Findlay Park Partners LLP Acquires 10,600 Shares of STERIS plc $STE

Key Points

• Findlay Park Partners LLP increased its stake in STERIS plc by 1.4%, now holding approximately $178.64 million worth of stock, which is about 1.8% of its total portfolio.
• Several analysts have issued **positive ratings** for STERIS, with price targets ranging from $250.00 to $295.00, indicating a consensus recommendation of "Moderate Buy."
• STERIS announced a dividend increase to $0.63 per share, reflecting an annual payout of $2.52 and a dividend yield of 1.0%, set to be paid on September 26th.

Findlay Park Partners LLP raised its position in STERIS plc (NYSE:STE - Free Report) by 1.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 788,152 shares of the medical equipment provider's stock after acquiring an additional 10,600 shares during the quarter. STERIS makes up 1.8% of Findlay Park Partners LLP's investment portfolio, making the stock its 23rd largest position. Findlay Park Partners LLP owned 0.80% of STERIS worth $178,635,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of STE. Vanguard Group Inc. lifted its stake in shares of STERIS by 0.4% in the first quarter. Vanguard Group Inc. now owns 11,957,852 shares of the medical equipment provider's stock worth $2,710,247,000 after buying an additional 46,628 shares in the last quarter. Massachusetts Financial Services Co. MA grew its stake 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 acquiring an additional 452,146 shares in the last quarter. Select Equity Group L.P. lifted its position in STERIS by 165.3% during the fourth quarter. Select Equity Group L.P. now owns 2,599,730 shares of the medical equipment provider's stock valued at $534,400,000 after purchasing an additional 1,619,796 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in shares of STERIS by 2.6% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,295,275 shares of the medical equipment provider's stock worth $293,574,000 after acquiring an additional 33,348 shares during the last quarter. Finally, Northern Trust Corp lifted its holdings in shares of STERIS by 5.8% in the 1st quarter. Northern Trust Corp now owns 1,283,560 shares of the medical equipment provider's stock worth $290,919,000 after acquiring an additional 70,523 shares during the last quarter. Institutional investors own 94.69% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. JMP Securities raised their target price on shares of STERIS from $265.00 to $280.00 and gave the company a "market outperform" rating in a research report on Friday, May 16th. Morgan Stanley increased 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. Jefferies Financial Group initiated coverage on shares of STERIS in a research report on Thursday, May 29th. They set a "hold" rating and a $263.00 price objective for the company. Wall Street Zen upgraded shares of STERIS from a "buy" rating to a "strong-buy" rating in a research report on Saturday, August 9th. Finally, Citigroup reaffirmed an "outperform" rating on shares of STERIS in a research note on Friday, May 16th. Six investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $273.50.

Insiders Place Their Bets

In related news, Director Cynthia L. Feldmann sold 3,495 shares of the company'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 completion of the sale, the director owned 705 shares of the company's stock, valued at $170,299.80. This represents a 83.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Karen L. Burton sold 7,900 shares of the business's stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $241.73, for a total transaction of $1,909,667.00. Following the completion of the sale, the chief accounting officer owned 5,994 shares in the company, valued at approximately $1,448,929.62. This trade represents a 56.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 36,335 shares of company stock valued at $8,822,302. 1.07% of the stock is owned by insiders.

STERIS Price Performance

Shares of NYSE:STE traded up $0.49 on Friday, reaching $245.26. 561,727 shares of the company were exchanged, compared to its average volume of 592,876. 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 $252.79. The firm has a market cap of $24.16 billion, a price-to-earnings ratio of 37.56 and a beta of 0.92. The company has a 50-day moving average of $235.98 and a 200-day moving average of $231.34.

STERIS (NYSE:STE - Get Free Report) last issued its quarterly earnings data 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 net margin of 11.61% and a return on equity of 14.17%. The firm had revenue of $1.40 billion for the quarter, compared to analysts' expectations of $1.36 billion. During the same period in the prior year, the company earned $2.03 EPS. The firm's revenue was up 8.8% on a year-over-year basis. Equities analysts forecast that STERIS plc will post 9.08 earnings per share for the current fiscal year.

STERIS Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Thursday, September 4th will be given a $0.63 dividend. This represents a $2.52 annualized dividend and a 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 dividend payout ratio is 34.92%.

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.