Deutsche Bank AG Boosts Stock Position in STERIS plc (NYSE:STE)

Deutsche Bank AG boosted its position in STERIS plc (NYSE:STE - Free Report) by 8.5% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 414,956 shares of the medical equipment provider's stock after purchasing an additional 32,549 shares during the quarter. Deutsche Bank AG owned approximately 0.42% of STERIS worth $94,050,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Grove Bank & Trust increased its holdings in shares of STERIS by 4,733.3% during the first quarter. Grove Bank & Trust now owns 145 shares of the medical equipment provider's stock valued at $33,000 after acquiring an additional 142 shares in the last quarter. ORG Wealth Partners LLC purchased a new stake in shares of STERIS during the first quarter valued at $43,000. Golden State Wealth Management LLC boosted its position in shares of STERIS by 503.0% during the first quarter. Golden State Wealth Management LLC now owns 199 shares of the medical equipment provider's stock valued at $45,000 after buying an additional 166 shares during the last quarter. Costello Asset Management INC purchased a new stake in shares of STERIS during the first quarter valued at $45,000. Finally, Wayfinding Financial LLC purchased a new stake in shares of STERIS during the first quarter valued at $46,000. Institutional investors own 94.69% of the company's stock.

Insider Activity

In other news, CEO Daniel A. Carestio sold 17,626 shares of STERIS stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $242.56, for a total transaction of $4,275,362.56. Following the transaction, the chief executive officer directly owned 51,385 shares of the company's stock, valued at $12,463,945.60. The trade was a 25.54% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Cynthia L. Feldmann sold 3,495 shares of STERIS 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 directly owned 705 shares in the company, valued at approximately $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. Over the last quarter, insiders sold 45,959 shares of company stock worth $11,231,764. 1.07% of the stock is currently owned by corporate insiders.

STERIS Stock Performance

NYSE:STE traded down $0.92 on Thursday, hitting $246.16. The stock had a trading volume of 270,717 shares, compared to its average volume of 601,794. The stock has a market cap of $24.24 billion, a price-to-earnings ratio of 37.70 and a beta of 0.92. The company has a quick ratio of 1.53, a current ratio of 2.22 and a debt-to-equity ratio of 0.27. The business's 50-day simple moving average is $234.24 and its two-hundred day simple moving average is $229.22. STERIS plc has a 52-week low of $200.98 and a 52-week high of $252.79.

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

STERIS Increases Dividend

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

Wall Street Analyst Weigh In

STE has been the topic of several recent analyst reports. Citigroup reaffirmed an "outperform" rating on shares of STERIS in a research report on Friday, May 16th. Stephens reaffirmed an "overweight" rating and set a $250.00 price objective on shares of STERIS in a research report on Thursday, May 15th. KeyCorp increased their price objective on STERIS from $277.00 to $288.00 and gave the company an "overweight" rating in a research report on Tuesday, July 22nd. Morgan Stanley increased their price objective on STERIS from $276.00 to $295.00 and gave the company an "overweight" rating in a research report on Friday, August 8th. Finally, JMP Securities increased their price objective on STERIS from $265.00 to $280.00 and gave the company a "market outperform" rating in a research report on Friday, May 16th. Two investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price 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.