Focus Partners Advisor Solutions LLC Invests $289,000 in STERIS plc $STE

Key Points

• Focus Partners Advisor Solutions LLC acquired a new stake in STERIS plc valued at approximately $289,000, purchasing 1,277 shares according to a recent SEC disclosure.
• Insiders have sold a total of 18,709 shares in STERIS over the past three months, amounting to nearly $4.55 million in value.
• STERIS recently declared a quarterly dividend of $0.63 per share, which represents an increase from $0.57, with a yield of 1.0%.

Focus Partners Advisor Solutions LLC purchased a new position in STERIS plc (NYSE:STE - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 1,277 shares of the medical equipment provider's stock, valued at approximately $289,000.

A number of other institutional investors also recently added to or reduced their stakes in the company. Flputnam Investment Management Co. purchased a new position in STERIS in the first quarter worth approximately $201,000. Baird Financial Group Inc. lifted its stake in STERIS by 16.1% in the first quarter. Baird Financial Group Inc. now owns 79,992 shares of the medical equipment provider's stock worth $18,130,000 after acquiring an additional 11,116 shares during the last quarter. Pinnacle Wealth Planning Services Inc. lifted its stake in STERIS by 5.3% in the first quarter. Pinnacle Wealth Planning Services Inc. now owns 1,388 shares of the medical equipment provider's stock worth $315,000 after acquiring an additional 70 shares during the last quarter. Orbis Allan Gray Ltd purchased a new position in STERIS in the first quarter worth approximately $349,950,000. Finally, Vident Advisory LLC lifted its stake in STERIS by 45.5% in the first quarter. Vident Advisory LLC now owns 3,350 shares of the medical equipment provider's stock worth $759,000 after acquiring an additional 1,048 shares during the last quarter. Hedge funds and other institutional investors own 94.69% of the company's stock.

STERIS Stock Performance

Shares of STERIS stock traded down $0.99 during trading on Friday, reaching $251.44. The company's stock had a trading volume of 77,183 shares, compared to its average volume of 587,197. The company has a 50-day moving average price of $237.16 and a two-hundred day moving average price of $232.91. The firm has a market cap of $24.76 billion, a PE ratio of 38.52 and a beta of 0.95. STERIS plc has a fifty-two week low of $200.98 and a fifty-two week high of $253.00. 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 (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, beating the consensus estimate of $2.32 by $0.02. The company had revenue of $1.40 billion for 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%. STERIS's revenue was up 8.8% compared to the same quarter last year. During the same period in the previous year, the company posted $2.03 EPS. On average, 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. Shareholders of record on Thursday, September 4th will be paid a $0.63 dividend. The ex-dividend date of this dividend is Thursday, September 4th. This represents a $2.52 annualized dividend and a yield of 1.0%. This is an increase from STERIS's previous quarterly dividend of $0.57. STERIS's dividend payout ratio is presently 38.59%.

Insider Activity at STERIS

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

Analyst Ratings Changes

A number of research analysts recently issued reports on STE shares. JMP Securities lifted their price target on shares of STERIS from $265.00 to $280.00 and gave the stock a "market outperform" rating in a research note on Friday, May 16th. Citigroup restated an "outperform" rating on shares of STERIS in a research report on Friday, May 16th. 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. Stephens restated an "overweight" rating and set a $250.00 price objective on shares of STERIS in a research report on Thursday, May 15th. Finally, Morgan Stanley boosted their price objective on shares of STERIS from $276.00 to $295.00 and gave the stock an "overweight" rating in a research report on Friday, August 8th. Six equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target 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.