Boston Trust Walden Corp Acquires 67,709 Shares of STERIS plc $STE

Key Points

• Boston Trust Walden Corp increased its stake in STERIS plc by 26.4%, acquiring an additional 67,709 shares, bringing its total holdings to approximately $77.8 million.
• Insider transactions revealed that VP Renato Tamaro and Director Cynthia L. Feldmann sold significant shares, decreasing their ownership by 30.73% and 83.21%, respectively.
• Wall Street analysts have shown bullish sentiment on STERIS, with several firms raising their price targets, and a consensus rating of "Moderate Buy" with an average target price of $273.50.

Boston Trust Walden Corp increased its position in shares of STERIS plc (NYSE:STE - Free Report) by 26.4% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 323,980 shares of the medical equipment provider's stock after buying an additional 67,709 shares during the quarter. Boston Trust Walden Corp owned about 0.33% of STERIS worth $77,826,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Geneos Wealth Management Inc. raised its stake in STERIS by 416.0% during the 1st quarter. Geneos Wealth Management Inc. now owns 129 shares of the medical equipment provider's stock worth $29,000 after buying an additional 104 shares during the period. Grove Bank & Trust raised its stake in STERIS by 4,733.3% during the 1st quarter. Grove Bank & Trust now owns 145 shares of the medical equipment provider's stock worth $33,000 after buying an additional 142 shares during the period. Zions Bancorporation National Association UT acquired a new position in STERIS during the 1st quarter worth approximately $37,000. ORG Wealth Partners LLC acquired a new position in STERIS during the 1st quarter worth approximately $43,000. Finally, Golden State Wealth Management LLC raised its stake in STERIS by 503.0% during the 1st quarter. Golden State Wealth Management LLC now owns 199 shares of the medical equipment provider's stock worth $45,000 after buying an additional 166 shares during the period. 94.69% of the stock is owned by institutional investors and hedge funds.

Insider Activity at STERIS

In related news, VP Renato Tamaro sold 3,204 shares of the stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $249.24, for a total transaction of $798,564.96. Following the completion of the sale, the vice president directly owned 7,221 shares of the company's stock, valued at approximately $1,799,762.04. This trade represents a 30.73% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Cynthia L. Feldmann sold 3,495 shares of the stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $241.56, for a total value of $844,252.20. Following the sale, the director directly owned 705 shares of the company's stock, valued at $170,299.80. The trade was a 83.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 18,868 shares of company stock valued at $4,585,389 in the last ninety days. Insiders own 1.07% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on STE. Wall Street Zen raised STERIS from a "buy" rating to a "strong-buy" rating in a research note on Sunday, September 14th. KeyCorp upped their price target on STERIS from $277.00 to $288.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 22nd. Morgan Stanley upped their price target on STERIS from $276.00 to $295.00 and gave the stock an "overweight" rating in a research note on Friday, August 8th. Finally, Weiss Ratings reissued a "buy (b-)" rating on shares of STERIS in a research note on Saturday, September 27th. Seven investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, STERIS currently has a consensus rating of "Moderate Buy" and an average target price of $273.50.

STERIS Stock Performance

Shares of STERIS stock opened at $235.65 on Tuesday. The company has a market cap of $23.21 billion, a PE ratio of 36.09 and a beta of 1.01. STERIS plc has a 52 week low of $200.98 and a 52 week high of $253.00. The business has a 50 day moving average price of $244.47 and a 200-day moving average price of $236.06. The company has a quick ratio of 1.53, a current ratio of 2.22 and a debt-to-equity ratio of 0.27.

STERIS (NYSE:STE - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The medical equipment provider reported $2.34 EPS for the quarter, topping the consensus estimate of $2.32 by $0.02. The firm had revenue of $1.40 billion during the quarter, compared to the consensus estimate of $1.36 billion. STERIS had a return on equity of 14.17% and a net margin of 11.61%.The company's quarterly revenue was up 8.8% compared to the same quarter last year. During the same period in the prior year, the business posted $2.03 earnings per share. Equities analysts anticipate that STERIS plc will post 9.08 earnings per share for the current fiscal year.

STERIS Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 26th. Investors of record on Thursday, September 4th were given a dividend of $0.63 per share. The ex-dividend date of this dividend was Thursday, September 4th. This is a positive change from STERIS's previous quarterly dividend of $0.57. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.1%. STERIS's dividend payout ratio (DPR) is 38.59%.

About STERIS

STERIS plc provides infection prevention products and services worldwide. It operates through four segments: Healthcare, Applied Sterilization Technologies, Life Sciences, and Dental. The Healthcare segment offers cleaning chemistries and sterility assurance products; automated endoscope reprocessing system and tracking products; endoscopy accessories, washers, sterilizers, and other pieces of capital equipment for the operation of a sterile processing department; and equipment used directly in the operating room, including surgical tables, lights, and connectivity solutions, as well as equipment management services.

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