Czech National Bank Increases Stake in STERIS plc $STE

Key Points

• The Czech National Bank increased its stake in STERIS plc by 6.4%, acquiring an additional 1,450 shares in the second quarter, bringing its total holdings to 24,016 shares valued at approximately $5.77 million.
• Equities research analysts have recently upgraded STERIS, with Wall Street Zen upgrading the stock to a "strong-buy" rating, while KeyCorp and Morgan Stanley have increased their price targets for the stock to $288.00 and $295.00, respectively.
• STERIS has declared an increase in its quarterly dividend to $0.63 per share, which will be paid out on September 26th, representing a yield of 1.0%.

Czech National Bank increased its stake in STERIS plc (NYSE:STE - Free Report) by 6.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 24,016 shares of the medical equipment provider's stock after purchasing an additional 1,450 shares during the period. Czech National Bank's holdings in STERIS were worth $5,769,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. raised its position in shares of STERIS by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 11,957,852 shares of the medical equipment provider's stock valued at $2,710,247,000 after buying an additional 46,628 shares in the last quarter. Massachusetts Financial Services Co. MA raised its position in 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 valued at $1,232,828,000 after purchasing an additional 452,146 shares in the last quarter. Generation Investment Management LLP lifted its stake in 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 purchasing an additional 170,392 shares during the last quarter. Orbis Allan Gray Ltd bought a new stake in STERIS during the first quarter worth about $349,950,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of STERIS by 55.2% in the 1st 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 in the last quarter. 94.69% of the stock is owned by hedge funds and other institutional investors.

STERIS Trading Up 0.4%

Shares of NYSE:STE traded up $1.01 during trading on Monday, reaching $249.79. 363,757 shares of the company traded hands, compared to its average volume of 533,518. 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 52-week low of $200.98 and a 52-week high of $253.00. The firm has a market capitalization of $24.60 billion, a price-to-earnings ratio of 38.25 and a beta of 0.95. The business's fifty day moving average is $239.66 and its 200-day moving average is $234.19.

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, topping the consensus estimate of $2.32 by $0.02. STERIS had a net margin of 11.61% and a return on equity of 14.17%. The company had revenue of $1.40 billion for the quarter, compared to the consensus estimate of $1.36 billion. During the same period in the previous year, the firm earned $2.03 earnings per share. The firm's revenue for the quarter was up 8.8% on a year-over-year basis. As a group, analysts forecast that STERIS plc will post 9.08 EPS for the current year.

STERIS Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 26th. Stockholders of record on Thursday, September 4th will be paid a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a dividend yield of 1.0%. This is a positive change from STERIS's previous quarterly dividend of $0.57. The ex-dividend date of this dividend is Thursday, September 4th. STERIS's payout ratio is currently 38.59%.

Analyst Ratings Changes

A number of brokerages recently weighed in on STE. Morgan Stanley raised their price objective on STERIS from $276.00 to $295.00 and gave the company an "overweight" rating in a report on Friday, August 8th. Wall Street Zen upgraded shares of STERIS from a "buy" rating to a "strong-buy" rating in a research report on Sunday, September 14th. Jefferies Financial Group initiated coverage on shares of STERIS in a report on Thursday, May 29th. They issued a "hold" rating and a $263.00 price objective for the company. Finally, KeyCorp upped their price objective on shares of STERIS from $277.00 to $288.00 and gave the company an "overweight" rating in a research note on Tuesday, July 22nd. Six research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, STERIS currently has a consensus rating of "Moderate Buy" and an average price target of $273.50.

Insider Activity

In related news, CAO Karen L. Burton sold 7,900 shares of the firm's stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $241.73, for a total value of $1,909,667.00. Following the sale, the chief accounting officer directly owned 5,994 shares of the company's stock, valued at $1,448,929.62. This trade represents a 56.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Cynthia L. Feldmann sold 3,495 shares of the business's stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $241.56, for a total value of $844,252.20. Following the transaction, the director owned 705 shares in the company, valued at approximately $170,299.80. This represents a 83.21% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 18,709 shares of company stock valued at $4,546,940. Company insiders own 1.07% of the company's stock.

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.