STERIS plc $STE Shares Sold by Lansforsakringar Fondforvaltning AB publ

Key Points

• Lansforsakringar Fondforvaltning AB reduced its stake in STERIS plc by 18.5%, owning 9,524 shares worth $2.16 million, amid significant trading activity from other institutional investors.
• Analysts have raised their target prices for STERIS shares, with Morgan Stanley increasing it from $276 to $295, indicating a consensus rating of "Moderate Buy" with an average price target of $273.50.
• STERIS has announced a quarterly dividend increase to $0.63, reflecting a 1.0% yield, as well as positive earnings growth, reported at $2.34 EPS for the last quarter, exceeding expectations.

Lansforsakringar Fondforvaltning AB publ reduced its position in STERIS plc (NYSE:STE - Free Report) by 18.5% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,524 shares of the medical equipment provider's stock after selling 2,158 shares during the period. Lansforsakringar Fondforvaltning AB publ's holdings in STERIS were worth $2,159,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Park Edge Advisors LLC boosted its position 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 worth $1,067,000 after buying an additional 47 shares in the last quarter. Blue Trust Inc. lifted its holdings in shares of STERIS by 16.5% in the first quarter. Blue Trust Inc. now owns 395 shares of the medical equipment provider's stock valued at $90,000 after purchasing an additional 56 shares in the last quarter. Taylor Frigon Capital Management LLC grew its position in shares of STERIS by 1.0% in the first quarter. Taylor Frigon Capital Management LLC now owns 6,280 shares of the medical equipment provider's stock valued at $1,423,000 after purchasing an additional 62 shares during the last quarter. West Coast Financial LLC increased its stake in shares of STERIS by 3.9% during the 1st quarter. West Coast Financial LLC now owns 1,658 shares of the medical equipment provider's stock worth $376,000 after purchasing an additional 63 shares in the last quarter. Finally, Cetera Investment Advisers raised its position in shares of STERIS by 0.9% during the 1st quarter. Cetera Investment Advisers now owns 6,999 shares of the medical equipment provider's stock worth $1,586,000 after purchasing an additional 63 shares during the last quarter. 94.69% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at STERIS

In other STERIS news, VP Renato Tamaro sold 3,204 shares of the business's stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $249.24, for a total transaction of $798,564.96. Following the completion of the sale, the vice president directly owned 7,221 shares in the company, valued at $1,799,762.04. The trade was a 30.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Mohsen Sohi sold 4,110 shares of the firm's stock in a transaction on Monday, August 11th. The shares were sold at an average price of $241.96, for a total transaction of $994,455.60. Following the completion of the transaction, the director directly owned 22,361 shares in the company, valued at approximately $5,410,467.56. This represents a 15.53% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 18,709 shares of company stock valued at $4,546,940. 1.07% of the stock is currently owned by corporate insiders.

STERIS Trading Up 0.7%

Shares of NYSE STE traded up $1.65 during trading on Friday, hitting $245.04. 331,177 shares of the company traded hands, compared to its average volume of 445,220. The firm has a market capitalization of $24.13 billion, a P/E ratio of 37.53 and a beta of 0.95. 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 company has a 50-day moving average price of $236.45 and a 200-day moving average price of $232.17. STERIS plc has a 1 year low of $200.98 and a 1 year high of $252.79.

STERIS (NYSE:STE - Get Free Report) last issued its earnings results on Wednesday, August 6th. The medical equipment provider reported $2.34 earnings per share for the quarter, beating analysts' consensus estimates of $2.32 by $0.02. STERIS had a return on equity of 14.17% and a net margin of 11.61%.The firm had revenue of $1.40 billion for the quarter, compared to analysts' expectations of $1.36 billion. During the same quarter last year, the firm earned $2.03 earnings per share. The firm's revenue for the quarter was up 8.8% compared to the same quarter last year. On average, equities analysts predict that STERIS plc will post 9.08 EPS for the current year.

STERIS Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 26th. Investors of record on Thursday, September 4th will be issued a $0.63 dividend. The ex-dividend date is Thursday, September 4th. This is a positive change from STERIS's previous quarterly dividend of $0.57. This represents a $2.52 annualized dividend and a yield of 1.0%. STERIS's payout ratio is 38.59%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. KeyCorp increased their target price on STERIS from $277.00 to $288.00 and gave the company an "overweight" rating in a report on Tuesday, July 22nd. Citigroup reiterated an "outperform" rating on shares of STERIS in a research report on Friday, May 16th. Wall Street Zen downgraded shares of STERIS from a "strong-buy" rating to a "buy" rating in a research note on Saturday. Jefferies Financial Group began coverage on shares of STERIS in a research note on Thursday, May 29th. They set a "hold" rating and a $263.00 price target on the stock. Finally, 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 research report on Friday, August 8th. Six research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target 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.