Ipswich Investment Management Co. Inc. Has $900,000 Holdings in STERIS plc $STE

Key Points

• Ipswich Investment Management increased its holdings in STERIS plc by 106.2%, owning 3,746 shares worth approximately $900,000 as of the latest SEC filing.
• Wall Street analysts show optimism for STERIS, with KeyCorp raising the target price to $288.00 and Morgan Stanley to $295.00, indicating a general trend towards a "Moderate Buy" rating.
• STERIS recently increased its quarterly dividend to $0.63 per share, up from $0.57, reflecting a solid annualized yield of 1.0% and a payout ratio of 38.59%.

Ipswich Investment Management Co. Inc. lifted its position in STERIS plc (NYSE:STE - Free Report) by 106.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,746 shares of the medical equipment provider's stock after buying an additional 1,929 shares during the quarter. Ipswich Investment Management Co. Inc.'s holdings in STERIS were worth $900,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Park Edge Advisors LLC raised its holdings in shares of STERIS by 1.0% in the 1st quarter. Park Edge Advisors LLC now owns 4,709 shares of the medical equipment provider's stock valued at $1,067,000 after purchasing an additional 47 shares during the period. Ashton Thomas Private Wealth LLC raised its stake in STERIS by 3.5% during the first quarter. Ashton Thomas Private Wealth LLC now owns 1,611 shares of the medical equipment provider's stock worth $365,000 after acquiring an additional 54 shares in the last quarter. Blue Trust Inc. lifted its stake in shares of STERIS by 16.5% in the 1st quarter. Blue Trust Inc. now owns 395 shares of the medical equipment provider's stock valued at $90,000 after acquiring an additional 56 shares during the last quarter. Taylor Frigon Capital Management LLC boosted its position in STERIS by 1.0% during the 1st quarter. Taylor Frigon Capital Management LLC now owns 6,280 shares of the medical equipment provider's stock worth $1,423,000 after buying an additional 62 shares during the period. Finally, West Coast Financial LLC grew its position in shares of STERIS by 3.9% in the 1st quarter. West Coast Financial LLC now owns 1,658 shares of the medical equipment provider's stock valued at $376,000 after buying an additional 63 shares during the last quarter. 94.69% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

STE has been the subject of several recent analyst reports. KeyCorp raised their target price on STERIS from $277.00 to $288.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 22nd. Wall Street Zen upgraded STERIS from a "buy" rating to a "strong-buy" rating in a report on Sunday, September 14th. Finally, Morgan Stanley increased their target price on STERIS from $276.00 to $295.00 and gave the stock an "overweight" rating in a report on Friday, August 8th. Six analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, STERIS currently has an average rating of "Moderate Buy" and a consensus target price of $273.50.

Insider Transactions at STERIS

In other STERIS news, CAO Karen L. Burton sold 7,900 shares of the stock in a transaction on Monday, August 11th. The stock was 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 owned 5,994 shares in the company, valued at approximately $1,448,929.62. This represents a 56.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Cynthia L. Feldmann sold 3,495 shares of STERIS stock in a transaction on Monday, August 11th. The shares were sold at an average price of $241.56, for a total value of $844,252.20. Following the transaction, the director owned 705 shares of the company's stock, valued at $170,299.80. The trade was a 83.21% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 18,709 shares of company stock worth $4,546,940 over the last quarter. Insiders own 1.07% of the company's stock.

STERIS Stock Performance

NYSE STE opened at $248.82 on Friday. The company's 50 day moving average is $241.31 and its 200-day moving average is $234.61. The company has a quick ratio of 1.53, a current ratio of 2.22 and a debt-to-equity ratio of 0.27. The firm has a market cap of $24.51 billion, a P/E ratio of 38.10 and a beta of 0.95. STERIS plc has a 12-month low of $200.98 and a 12-month high of $253.00.

STERIS (NYSE:STE - Get Free Report) last announced its earnings results on Wednesday, August 6th. The medical equipment provider reported $2.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.32 by $0.02. The company had revenue of $1.40 billion during the quarter, compared to analyst estimates of $1.36 billion. STERIS had a net margin of 11.61% and a return on equity of 14.17%. The firm's quarterly revenue was up 8.8% compared to the same quarter last year. During the same period in the previous year, the business earned $2.03 earnings per share. Sell-side analysts predict that STERIS plc will post 9.08 earnings per share for the current year.

STERIS Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 26th. Shareholders of record on Thursday, September 4th were issued a dividend of $0.63 per share. This is a positive change from STERIS's previous quarterly dividend of $0.57. The ex-dividend date was Thursday, September 4th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.0%. STERIS's dividend payout ratio (DPR) is currently 38.59%.

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.

Want to see what other hedge funds are holding STE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for STERIS plc (NYSE:STE - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.