Fenimore Asset Management Inc Buys 9,556 Shares of STERIS plc $STE

Key Points

• Fenimore Asset Management Inc increased its stake in STERIS plc by 3.2%, owning a total of 312,061 shares valued at approximately $74.96 million.
• Several institutional investors have significantly modified their positions in STERIS, with Geneos Wealth Management increasing its stake by 416.0% in the first quarter.
• STERIS declared a quarterly dividend of $0.63, an increase from the previous $0.57, representing an annual yield of 1.0%.

Fenimore Asset Management Inc grew its stake in shares of STERIS plc (NYSE:STE - Free Report) by 3.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 312,061 shares of the medical equipment provider's stock after buying an additional 9,556 shares during the period. STERIS accounts for approximately 1.5% of Fenimore Asset Management Inc's portfolio, making the stock its 27th largest holding. Fenimore Asset Management Inc owned approximately 0.32% of STERIS worth $74,963,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of STE. Geneos Wealth Management Inc. boosted its stake in STERIS by 416.0% during the first quarter. Geneos Wealth Management Inc. now owns 129 shares of the medical equipment provider's stock valued at $29,000 after buying an additional 104 shares during the period. Grove Bank & Trust grew its holdings in shares of STERIS by 4,733.3% during the 1st quarter. Grove Bank & Trust now owns 145 shares of the medical equipment provider's stock valued at $33,000 after purchasing an additional 142 shares during the last quarter. Zions Bancorporation National Association UT purchased a new position in shares of STERIS in the first quarter worth about $37,000. ORG Wealth Partners LLC purchased a new position in STERIS in the 1st quarter worth approximately $43,000. Finally, Golden State Wealth Management LLC raised its holdings in STERIS by 503.0% during the 1st 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. 94.69% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

STE has been the topic of several research analyst reports. Morgan Stanley boosted their target price on STERIS from $276.00 to $295.00 and gave the company an "overweight" rating in a research note on Friday, August 8th. Weiss Ratings reissued a "buy (b-)" rating on shares of STERIS in a report on Saturday, September 27th. Wall Street Zen upgraded shares of STERIS from a "buy" rating to a "strong-buy" rating in a report on Sunday, September 14th. Finally, KeyCorp lifted their price target on shares of STERIS from $277.00 to $288.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 22nd. Seven equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $273.50.

Insider Activity at STERIS

In related news, Director Mohsen Sohi sold 4,110 shares of the firm's stock in a transaction on Monday, August 11th. The shares were sold at an average price of $241.96, for a total transaction of $994,455.60. Following the completion of the transaction, the director directly owned 22,361 shares of the company's stock, valued at approximately $5,410,467.56. This trade represents a 15.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Renato Tamaro sold 3,204 shares of the firm's stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $249.24, for a total value of $798,564.96. Following the transaction, the vice president owned 7,221 shares of the company's stock, valued at approximately $1,799,762.04. The trade was a 30.73% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 18,709 shares of company stock worth $4,546,940 in the last three months. Insiders own 1.07% of the company's stock.

STERIS Price Performance

NYSE STE opened at $242.54 on Monday. 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 12 month low of $200.98 and a 12 month high of $253.00. The stock has a market cap of $23.89 billion, a price-to-earnings ratio of 37.14 and a beta of 1.01. The company's 50 day moving average is $243.08 and its two-hundred day moving average is $235.36.

STERIS (NYSE:STE - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The medical equipment provider reported $2.34 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.32 by $0.02. The firm had revenue of $1.40 billion during the quarter, compared to analysts' expectations of $1.36 billion. STERIS had a net margin of 11.61% and a return on equity of 14.17%. The company's revenue for the quarter was up 8.8% compared to the same quarter last year. During the same period in the prior year, the company posted $2.03 earnings per share. As a group, research analysts anticipate that STERIS plc will post 9.08 earnings per share for the current 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 issued a $0.63 dividend. The ex-dividend date of this dividend was Thursday, September 4th. This represents a $2.52 dividend on an annualized basis and a yield of 1.0%. This is a boost from STERIS's previous quarterly dividend of $0.57. STERIS's payout ratio is presently 38.59%.

STERIS Company 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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