Haven Private LLC Takes $298,000 Position in STERIS plc (NYSE:STE)

Key Points

• Haven Private LLC has acquired a new stake in STERIS plc, purchasing 1,316 shares worth approximately $298,000 during the first quarter.
• Steris's stock has received several upgraded ratings, with Morgan Stanley raising its price target from $260 to $276 and maintaining an "overweight" rating.
• The company recently declared a quarterly dividend increase to $0.63 per share, representing a 1.1% dividend yield, and indicating a boost from the previous dividend of $0.57.

Haven Private LLC purchased a new position in shares of STERIS plc (NYSE:STE - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 1,316 shares of the medical equipment provider's stock, valued at approximately $298,000.

Other hedge funds also recently made changes to their positions in the company. Schroder Investment Management Group grew its holdings in shares of STERIS by 2.7% during the fourth quarter. Schroder Investment Management Group now owns 8,384 shares of the medical equipment provider's stock worth $1,719,000 after purchasing an additional 223 shares during the last quarter. CIBC Private Wealth Group LLC lifted its position in STERIS by 18.7% during the 4th quarter. CIBC Private Wealth Group LLC now owns 3,851 shares of the medical equipment provider's stock worth $807,000 after buying an additional 606 shares in the last quarter. Wellington Management Group LLP grew its holdings in STERIS by 4,534.6% during the 4th quarter. Wellington Management Group LLP now owns 219,032 shares of the medical equipment provider's stock worth $45,024,000 after acquiring an additional 214,306 shares during the last quarter. HighPoint Advisor Group LLC acquired a new stake in STERIS in the 4th quarter valued at about $201,000. Finally, National Bank of Canada FI increased its position in STERIS by 16.3% in the 4th quarter. National Bank of Canada FI now owns 46,221 shares of the medical equipment provider's stock valued at $9,501,000 after acquiring an additional 6,486 shares in the last quarter. Institutional investors and hedge funds own 94.69% of the company's stock.

STERIS Stock Performance

NYSE:STE traded down $2.10 on Wednesday, hitting $221.77. The company's stock had a trading volume of 242,441 shares, compared to its average volume of 599,135. The company has a current ratio of 1.96, a quick ratio of 1.39 and a debt-to-equity ratio of 0.29. STERIS plc has a one year low of $200.98 and a one year high of $252.79. The stock has a fifty day moving average of $234.81 and a two-hundred day moving average of $228.35. The firm has a market capitalization of $21.82 billion, a P/E ratio of 35.73 and a beta of 0.92.

STERIS (NYSE:STE - Get Free Report) last issued its quarterly earnings data on Wednesday, May 14th. The medical equipment provider reported $2.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.59 by $0.15. The firm had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.47 billion. STERIS had a net margin of 11.26% and a return on equity of 14.21%. The business's revenue for the quarter was up 5.7% compared to the same quarter last year. During the same period last year, the business posted $2.58 earnings per share. Research analysts predict that STERIS plc will post 9.08 earnings per share for the current year.

STERIS Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 26th. Investors of record on Thursday, September 4th will be paid a $0.63 dividend. This represents a $2.52 annualized dividend and a dividend yield of 1.1%. This is an increase from STERIS's previous quarterly dividend of $0.57. The ex-dividend date is Thursday, September 4th. STERIS's dividend payout ratio is presently 36.77%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. Stephens reiterated an "overweight" rating and set a $250.00 target price on shares of STERIS in a research report on Thursday, May 15th. Jefferies Financial Group started coverage on STERIS in a report on Thursday, May 29th. They set a "hold" rating and a $263.00 price objective on the stock. JMP Securities lifted their target price on STERIS from $265.00 to $280.00 and gave the company a "market outperform" rating in a research note on Friday, May 16th. Wall Street Zen downgraded STERIS from a "strong-buy" rating to a "buy" rating in a research report on Friday, July 18th. Finally, Citigroup reiterated an "outperform" rating on shares of STERIS in a report on Friday, May 16th. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat, STERIS presently has an average rating of "Moderate Buy" and an average price target of $270.33.

Insider Activity at STERIS

In related news, CEO Daniel A. Carestio sold 17,626 shares of the business's stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $242.56, for a total value of $4,275,362.56. Following the completion of the transaction, the chief executive officer owned 51,385 shares of the company's stock, valued at $12,463,945.60. The trade was a 25.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Cary L. Majors sold 12,828 shares of the company's stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $250.08, for a total transaction of $3,208,026.24. Following the sale, the senior vice president directly owned 11,372 shares of the company's stock, valued at $2,843,909.76. This represents a 53.01% decrease in their position. The disclosure for this sale can be found here. Insiders own 1.07% of the company's stock.

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.