Callahan Advisors LLC Buys 6,430 Shares of STERIS plc $STE

Key Points

• Callahan Advisors LLC increased its stake in STERIS plc by 15.5%, acquiring an additional 6,430 shares in the second quarter, bringing its total holdings to 47,806 shares valued at approximately $11.48 million.
• STERIS reported a quarterly earnings per share (EPS) of $2.34, exceeding analyst expectations, and had revenues of $1.40 billion, reflecting an 8.8% increase from the previous year.
• The company recently raised its quarterly dividend to $0.63 per share, up from $0.57, resulting in an annualized yield of 1.1% and a payout ratio of 38.59%.

Callahan Advisors LLC lifted its stake in shares of STERIS plc (NYSE:STE - Free Report) by 15.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 47,806 shares of the medical equipment provider's stock after acquiring an additional 6,430 shares during the quarter. Callahan Advisors LLC's holdings in STERIS were worth $11,484,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in the stock. Vanguard Group Inc. raised its position in shares of STERIS by 0.4% during the first quarter. Vanguard Group Inc. now owns 11,957,852 shares of the medical equipment provider's stock worth $2,710,247,000 after acquiring an additional 46,628 shares during the last quarter. Massachusetts Financial Services Co. MA raised its position in shares of STERIS by 9.1% during the first quarter. Massachusetts Financial Services Co. MA now owns 5,439,349 shares of the medical equipment provider's stock worth $1,232,828,000 after acquiring an additional 452,146 shares during the last quarter. Generation Investment Management LLP raised its position in shares of STERIS by 5.4% during the first quarter. Generation Investment Management LLP now owns 3,354,545 shares of the medical equipment provider's stock worth $760,308,000 after acquiring an additional 170,392 shares during the last quarter. Orbis Allan Gray Ltd bought a new position in shares of STERIS during the first quarter worth about $349,950,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of STERIS by 55.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,520,479 shares of the medical equipment provider's stock worth $344,617,000 after acquiring an additional 540,999 shares during the last quarter. 94.69% of the stock is currently owned by institutional investors.

STERIS Trading Down 0.5%

Shares of STE stock opened at $236.71 on Thursday. The company has a market cap of $23.31 billion, a P/E ratio of 36.25 and a beta of 1.01. The stock has a 50 day simple moving average of $245.05 and a two-hundred day simple moving average of $236.07. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.53 and a current ratio of 2.22. STERIS plc has a fifty-two week low of $200.98 and a fifty-two week high of $253.00.

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

STERIS Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 26th. Shareholders of record on Thursday, September 4th were paid a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a yield of 1.1%. This is a boost from STERIS's previous quarterly dividend of $0.57. The ex-dividend date of this dividend was Thursday, September 4th. STERIS's payout ratio is 38.59%.

Insider Transactions at STERIS

In other STERIS news, VP Renato Tamaro sold 3,204 shares of the firm's stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $249.24, for a total value of $798,564.96. Following the completion of the sale, the vice president 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 is accessible through this hyperlink. Also, CEO Daniel A. Carestio sold 159 shares of the firm's stock in a transaction that occurred on Monday, October 6th. The shares were sold at an average price of $241.82, for a total value of $38,449.38. Following the completion of the sale, the chief executive officer directly owned 51,096 shares of the company's stock, valued at $12,356,034.72. This trade represents a 0.31% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 18,868 shares of company stock valued at $4,585,389. Company insiders own 1.07% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on STE shares. Wall Street Zen upgraded STERIS from a "buy" rating to a "strong-buy" rating in a research report on Sunday, September 14th. KeyCorp raised their price objective on STERIS from $277.00 to $288.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 22nd. Weiss Ratings reiterated a "buy (b)" rating on shares of STERIS in a report on Tuesday. Finally, Morgan Stanley lifted their target price on STERIS from $276.00 to $295.00 and gave the stock an "overweight" rating in a report on Friday, August 8th. Seven research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $273.50.

STERIS Profile

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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