STERIS plc $STE Shares Acquired by Ieq Capital LLC

Key Points

• Ieq Capital LLC increased its stake in STERIS plc by 165.0% in Q1, holding 4,627 shares now valued at approximately $1.05 million.
• Director Mohsen Sohi and CAO Karen L. Burton both sold significant amounts of STERIS stock, with total sales surpassing $2.9 million, indicating insider trading activity.
• STERIS announced a quarterly dividend increase to $0.63 per share, reflecting solid performance with net revenue growth of 8.8% year-over-year.

Ieq Capital LLC lifted its stake in shares of STERIS plc (NYSE:STE - Free Report) by 165.0% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 4,627 shares of the medical equipment provider's stock after acquiring an additional 2,881 shares during the period. Ieq Capital LLC's holdings in STERIS were worth $1,049,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. Grove Bank & Trust raised its holdings in STERIS by 4,733.3% in the 1st quarter. Grove Bank & Trust now owns 145 shares of the medical equipment provider's stock valued at $33,000 after buying an additional 142 shares during the period. Zions Bancorporation National Association UT purchased a new stake in STERIS in the 1st quarter valued at about $37,000. ORG Wealth Partners LLC purchased a new stake in STERIS in the 1st quarter valued at about $43,000. Golden State Wealth Management LLC raised its holdings 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 valued at $45,000 after buying an additional 166 shares during the period. Finally, Costello Asset Management INC purchased a new stake in STERIS in the 1st quarter valued at about $45,000. 94.69% of the stock is currently owned by hedge funds and other institutional investors.

STERIS Stock Up 0.6%

Shares of STE stock traded up $1.58 during trading hours on Friday, reaching $244.97. 208,081 shares of the stock were exchanged, compared to its average volume of 588,451. The business's fifty day moving average is $236.32 and its two-hundred day moving average is $232.00. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.22 and a quick ratio of 1.53. STERIS plc has a 12-month low of $200.98 and a 12-month high of $252.79. The firm has a market capitalization of $24.13 billion, a P/E ratio of 37.54 and a beta of 0.95.

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 for the quarter, topping 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 analyst estimates of $1.36 billion. During the same period in the prior year, the firm earned $2.03 earnings per share. The business's quarterly revenue was up 8.8% compared to the same quarter last year. As a group, research analysts expect that STERIS plc will post 9.08 EPS for the current fiscal year.

STERIS Increases Dividend

The business also recently declared 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. This is an increase from STERIS's previous quarterly dividend of $0.57. This represents a $2.52 annualized dividend and a yield of 1.0%. The ex-dividend date is Thursday, September 4th. STERIS's payout ratio is currently 34.92%.

Analysts Set New Price Targets

Several analysts recently issued reports on STE shares. KeyCorp boosted their price objective on shares of STERIS from $277.00 to $288.00 and gave the company an "overweight" rating in a report on Tuesday, July 22nd. Morgan Stanley boosted their price objective on shares of STERIS from $276.00 to $295.00 and gave the company an "overweight" rating in a report on Friday, August 8th. Jefferies Financial Group initiated coverage on shares of STERIS in a report on Thursday, May 29th. They issued a "hold" rating and a $263.00 price objective on the stock. Wall Street Zen upgraded shares of STERIS from a "buy" rating to a "strong-buy" rating in a research note on Saturday, August 9th. Finally, Stephens reissued an "overweight" rating and issued a $250.00 price objective on shares of STERIS in a research note on Thursday, May 15th. Six analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $273.50.

Insider Activity at STERIS

In other STERIS news, CAO Karen L. Burton sold 7,900 shares of STERIS stock in a transaction that occurred on 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 transaction, the chief accounting officer owned 5,994 shares of the company's stock, valued at $1,448,929.62. The trade was a 56.86% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Renato Tamaro sold 3,204 shares of the firm's stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $249.24, for a total transaction of $798,564.96. Following the transaction, the vice president owned 7,221 shares in the company, valued at approximately $1,799,762.04. This trade represents a 30.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 18,709 shares of company stock valued at $4,546,940. Company insiders own 1.07% of the company's stock.

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.