Cwm LLC Has $1.47 Million Stake in STERIS plc $STE

Key Points

• Cwm LLC increased its stake in STERIS plc by 73.6%, bringing their total holdings to 6,106 shares valued at approximately $1.47 million.
• STERIS recently reported earnings of $2.34 per share, exceeding analysts' expectations, and achieved 8.8% year-over-year revenue growth to $1.40 billion.
• The company declared a quarterly dividend of $0.63, an increase from previous payments, resulting in an annualized yield of 1.0%.

Cwm LLC boosted its position in STERIS plc (NYSE:STE - Free Report) by 73.6% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,106 shares of the medical equipment provider's stock after purchasing an additional 2,588 shares during the period. Cwm LLC's holdings in STERIS were worth $1,467,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in STE. Orbis Allan Gray Ltd acquired a new stake in STERIS during the 1st quarter worth approximately $349,950,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings 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 purchasing an additional 540,999 shares during the period. Massachusetts Financial Services Co. MA grew its stake in shares of STERIS by 9.1% in 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 purchasing an additional 452,146 shares during the last quarter. Nuveen LLC acquired a new stake in STERIS in the first quarter valued at $65,435,000. Finally, Generation Investment Management LLP raised its position in STERIS by 5.4% during the 1st quarter. Generation Investment Management LLP now owns 3,354,545 shares of the medical equipment provider's stock worth $760,308,000 after purchasing an additional 170,392 shares during the last quarter. 94.69% of the stock is owned by institutional investors and hedge funds.

STERIS Price Performance

Shares of NYSE STE opened at $242.34 on Tuesday. The firm has a market capitalization of $23.87 billion, a P/E ratio of 37.11 and a beta of 1.01. The firm's 50-day moving average price is $245.10 and its 200-day moving average price is $236.64. The company has a current ratio of 2.22, a quick ratio of 1.53 and a debt-to-equity ratio of 0.27. STERIS plc has a 1-year low of $200.98 and a 1-year high of $253.00.

STERIS (NYSE:STE - Get Free Report) last issued its earnings results 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 business had revenue of $1.40 billion during the quarter, compared to analyst estimates of $1.36 billion. During the same period in the previous year, the company posted $2.03 EPS. The firm's revenue was up 8.8% compared to the same quarter last year. Equities research 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 $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend was Thursday, September 4th. This is an increase from STERIS's previous quarterly dividend of $0.57. STERIS's payout ratio is 38.59%.

Wall Street Analysts Forecast Growth

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

Insider Activity at STERIS

In related news, Director Mohsen Sohi sold 4,110 shares of the company's stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $241.96, for a total value of $994,455.60. Following the sale, the director owned 22,361 shares in the company, valued at $5,410,467.56. This represents a 15.53% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, 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 value 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 disclosure for this sale can be found here. Insiders sold a total of 18,868 shares of company stock valued at $4,585,389 over the last quarter. 1.07% of the stock is currently owned by company insiders.

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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