Congress Asset Management Co. Boosts Stock Position in STERIS plc (NYSE:STE)

Congress Asset Management Co. grew its holdings in shares of STERIS plc (NYSE:STE - Free Report) by 12.3% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 121,143 shares of the medical equipment provider's stock after purchasing an additional 13,316 shares during the quarter. Congress Asset Management Co. owned approximately 0.12% of STERIS worth $27,457,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in STE. Avalon Trust Co purchased a new stake in STERIS in the fourth quarter worth about $30,000. Human Investing LLC purchased a new position in shares of STERIS during the 4th quarter valued at about $31,000. Anfield Capital Management LLC grew its stake in shares of STERIS by 100.0% during the 4th quarter. Anfield Capital Management LLC now owns 182 shares of the medical equipment provider's stock valued at $37,000 after acquiring an additional 91 shares during the period. Manchester Capital Management LLC grew its stake in shares of STERIS by 182.7% during the 4th quarter. Manchester Capital Management LLC now owns 212 shares of the medical equipment provider's stock valued at $44,000 after acquiring an additional 137 shares during the period. Finally, Brown Brothers Harriman & Co. increased its holdings in STERIS by 66.7% in the 4th quarter. Brown Brothers Harriman & Co. now owns 220 shares of the medical equipment provider's stock worth $45,000 after acquiring an additional 88 shares in the last quarter. Institutional investors own 94.69% of the company's stock.

Insider Activity

In related news, CEO Daniel A. Carestio sold 17,626 shares of STERIS stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $242.56, for a total transaction of $4,275,362.56. Following the completion of the transaction, the chief executive officer now directly owns 51,385 shares of the company's stock, valued at approximately $12,463,945.60. The trade was a 25.54% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Cary L. Majors sold 12,828 shares of the company's stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $250.08, for a total transaction of $3,208,026.24. Following the transaction, the senior vice president now owns 11,372 shares in the company, valued at $2,843,909.76. The trade was a 53.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.14% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Wall Street Zen lowered shares of STERIS from a "strong-buy" rating to a "buy" rating in a research report on Friday, May 30th. Jefferies Financial Group started coverage on STERIS in a report on Thursday, May 29th. They set a "hold" rating and a $263.00 price target on the stock. JMP Securities upped their price objective on STERIS from $265.00 to $280.00 and gave the stock a "market outperform" rating in a research note on Friday, May 16th. Morgan Stanley lifted their target price on STERIS from $240.00 to $260.00 and gave the company an "equal weight" rating in a research note on Monday, May 19th. Finally, Citigroup restated an "outperform" rating on shares of STERIS in a research note on Friday, May 16th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $263.83.

STERIS Price Performance

Shares of NYSE:STE traded down $1.05 during mid-day trading on Monday, reaching $242.67. The stock had a trading volume of 564,706 shares, compared to its average volume of 549,778. The business's 50 day moving average price is $230.54 and its 200 day moving average price is $222.07. STERIS plc has a 1 year low of $200.98 and a 1 year high of $252.79. The company has a market cap of $23.87 billion, a P/E ratio of 51.52 and a beta of 0.94. The company has a current ratio of 2.13, a quick ratio of 1.40 and a debt-to-equity ratio of 0.32.

STERIS (NYSE:STE - Get Free Report) last issued its quarterly earnings data on Wednesday, May 14th. The medical equipment provider reported $2.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.59 by $0.15. STERIS had a return on equity of 13.91% and a net margin of 8.66%. The business had revenue of $1.48 billion for the quarter, compared to analysts' expectations of $1.47 billion. During the same period in the prior year, the firm earned $2.58 EPS. The company's revenue for the quarter was up 5.7% on a year-over-year basis. Research analysts expect that STERIS plc will post 9.08 EPS for the current fiscal year.

STERIS Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 26th. Stockholders of record on Tuesday, June 10th will be given a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a dividend yield of 0.94%. The ex-dividend date of this dividend is Tuesday, June 10th. STERIS's dividend payout ratio is 36.77%.

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.