iA Global Asset Management Inc. Makes New Investment in STERIS plc (NYSE:STE)

Key Points

• iA Global Asset Management Inc. has made a new investment in STERIS plc, purchasing 5,739 shares valued at approximately $1.3 million in the first quarter.
• Insider trades revealed that both SVP Cary L. Majors and CEO Daniel A. Carestio sold significant amounts of stock, reducing their holdings by 53.01% and 25.54% respectively.
• STERIS announced an increase in its quarterly dividend to $0.63 per share, reflecting a positive change from the previous dividend of $0.57.

iA Global Asset Management Inc. bought a new position in STERIS plc (NYSE:STE - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 5,739 shares of the medical equipment provider's stock, valued at approximately $1,301,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. QRG Capital Management Inc. grew its stake in STERIS by 122.5% in the 1st quarter. QRG Capital Management Inc. now owns 2,832 shares of the medical equipment provider's stock worth $642,000 after acquiring an additional 1,559 shares during the period. Allianz Asset Management GmbH grew its stake in STERIS by 31.9% in the 1st quarter. Allianz Asset Management GmbH now owns 102,488 shares of the medical equipment provider's stock worth $23,229,000 after acquiring an additional 24,809 shares during the period. Dynamic Advisor Solutions LLC grew its stake in STERIS by 23.6% in the 1st quarter. Dynamic Advisor Solutions LLC now owns 1,203 shares of the medical equipment provider's stock worth $273,000 after acquiring an additional 230 shares during the period. Golden State Wealth Management LLC grew its stake in STERIS by 503.0% in the 1st 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 period. Finally, Vontobel Holding Ltd. grew its stake in STERIS by 17.1% in the 1st quarter. Vontobel Holding Ltd. now owns 2,071 shares of the medical equipment provider's stock worth $469,000 after acquiring an additional 302 shares during the period. 94.69% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at STERIS

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

STERIS Stock Performance

NYSE:STE opened at $221.59 on Thursday. The company has a current ratio of 1.96, a quick ratio of 1.39 and a debt-to-equity ratio of 0.29. The firm has a market capitalization of $21.80 billion, a price-to-earnings ratio of 35.74 and a beta of 0.92. The firm's fifty day simple moving average is $234.35 and its 200 day simple moving average is $228.30. STERIS plc has a twelve month low of $200.98 and a twelve month high of $252.79.

STERIS (NYSE:STE - Get Free Report) last posted its earnings results on Wednesday, August 6th. The medical equipment provider reported $2.34 earnings per share for the quarter, beating the consensus estimate of $2.32 by $0.02. The business had revenue of $1.40 billion for the quarter, compared to analyst estimates of $1.36 billion. STERIS had a net margin of 11.26% and a return on equity of 14.21%. The business's quarterly revenue was up 8.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.03 EPS. As a group, equities research analysts expect that STERIS plc will post 9.08 earnings per share for the current fiscal year.

STERIS Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Investors of record on Thursday, September 4th will be issued a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a dividend yield of 1.1%. The ex-dividend date is Thursday, September 4th. This is a positive change from STERIS's previous quarterly dividend of $0.57. STERIS's dividend payout ratio (DPR) is presently 36.77%.

Analyst Ratings Changes

Several research firms have commented on STE. Citigroup reaffirmed an "outperform" rating on shares of STERIS in a research note on Friday, May 16th. Wall Street Zen cut shares of STERIS from a "strong-buy" rating to a "buy" rating in a research note on Friday, July 18th. JMP Securities boosted their price objective on shares of STERIS from $265.00 to $280.00 and gave the company a "market outperform" rating in a research note on Friday, May 16th. KeyCorp boosted their price objective on shares of STERIS from $277.00 to $288.00 and gave the company an "overweight" rating in a research note on Tuesday, July 22nd. Finally, Jefferies Financial Group assumed coverage on shares of STERIS in a research note on Thursday, May 29th. They set a "hold" rating and a $263.00 price objective for the company. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $270.33.

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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