Fox Run Management L.L.C. Buys New Stake in STERIS plc $STE

Key Points

• Fox Run Management L.L.C. acquired 1,465 shares of STERIS plc, valued at approximately $332,000, during the 1st quarter, contributing to a significant increase in institutional ownership around 94.69% of the stock.
• STERIS recently declared an increased quarterly dividend of $0.63 per share, representing a 10.5% rise from the previous dividend of $0.57, along with a 1.0% annual yield.
• The company reported a last quarter EPS of $2.34, exceeding estimates, and saw an 8.8% year-over-year revenue increase, leading analysts to forecast a EPS of $9.08 for the current fiscal year.

Fox Run Management L.L.C. bought a new position in shares of STERIS plc (NYSE:STE - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,465 shares of the medical equipment provider's stock, valued at approximately $332,000.

Several other large investors have also modified their holdings of STE. Grove Bank & Trust raised its position 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 worth $33,000 after purchasing an additional 142 shares during the last quarter. Zions Bancorporation National Association UT purchased a new position in STERIS during the first quarter worth $37,000. ORG Wealth Partners LLC purchased a new position in STERIS during the first quarter worth $43,000. Golden State Wealth Management LLC raised its holdings in shares of STERIS by 503.0% in the first quarter. Golden State Wealth Management LLC now owns 199 shares of the medical equipment provider's stock worth $45,000 after acquiring an additional 166 shares during the last quarter. Finally, Costello Asset Management INC purchased a new stake in shares of STERIS in the first quarter valued at $45,000. 94.69% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at STERIS

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

STERIS Trading Up 1.7%

Shares of NYSE STE traded up $4.2320 on Friday, reaching $251.7320. 375,557 shares of the company traded hands, compared to its average volume of 556,042. The stock has a market capitalization of $24.79 billion, a PE ratio of 38.55 and a beta of 0.92. STERIS plc has a fifty-two week low of $200.98 and a fifty-two week high of $252.79. The company has a current ratio of 2.22, a quick ratio of 1.53 and a debt-to-equity ratio of 0.27. The company has a 50 day moving average of $234.96 and a 200 day moving average of $230.51.

STERIS (NYSE:STE - Get Free Report) last released its earnings results on Wednesday, August 6th. The medical equipment provider reported $2.34 earnings per share (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 during 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. STERIS's revenue was up 8.8% compared to the same quarter last year. On average, equities research 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. Stockholders of record on Thursday, September 4th will be issued 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 is Thursday, September 4th. This is a positive change from STERIS's previous quarterly dividend of $0.57. STERIS's payout ratio is currently 34.92%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on STE shares. KeyCorp increased their price objective on STERIS from $277.00 to $288.00 and gave the company an "overweight" rating in a research note on Tuesday, July 22nd. Morgan Stanley raised their price target on shares of STERIS from $276.00 to $295.00 and gave the stock an "overweight" rating in a research note on Friday, August 8th. Stephens reiterated an "overweight" rating and set a $250.00 price target on shares of STERIS in a report on Thursday, May 15th. Wall Street Zen raised shares of STERIS from a "buy" rating to a "strong-buy" rating in a research report on Saturday, August 9th. Finally, JMP Securities raised their target price on shares of STERIS from $265.00 to $280.00 and gave the stock a "market outperform" rating in a research report on Friday, May 16th. Six research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat, STERIS has a consensus rating of "Moderate Buy" and an average target price of $273.50.

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.