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Massachusetts Financial Services Co. MA Increases Stake in STERIS plc (NYSE:STE)

STERIS logo with Medical background

Massachusetts Financial Services Co. MA boosted its stake in shares of STERIS plc (NYSE:STE - Free Report) by 9.1% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 5,439,349 shares of the medical equipment provider's stock after buying an additional 452,146 shares during the quarter. Massachusetts Financial Services Co. MA owned approximately 5.54% of STERIS worth $1,232,828,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in STE. Select Equity Group L.P. lifted its holdings in shares of STERIS by 165.3% in the fourth quarter. Select Equity Group L.P. now owns 2,599,730 shares of the medical equipment provider's stock worth $534,400,000 after buying an additional 1,619,796 shares in the last quarter. Geode Capital Management LLC increased its position in shares of STERIS by 2.4% in the fourth quarter. Geode Capital Management LLC now owns 2,359,748 shares of the medical equipment provider's stock worth $483,775,000 after purchasing an additional 56,123 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in shares of STERIS by 15.9% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,261,927 shares of the medical equipment provider's stock worth $257,585,000 after purchasing an additional 172,795 shares during the last quarter. Franklin Resources Inc. increased its position in shares of STERIS by 45.1% in the fourth quarter. Franklin Resources Inc. now owns 1,216,821 shares of the medical equipment provider's stock worth $250,130,000 after purchasing an additional 378,252 shares during the last quarter. Finally, Northern Trust Corp increased its position in shares of STERIS by 7.4% in the fourth quarter. Northern Trust Corp now owns 1,213,037 shares of the medical equipment provider's stock worth $249,352,000 after purchasing an additional 83,601 shares during the last quarter. 94.69% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

STE has been the topic of several research reports. Citigroup reissued an "outperform" rating on shares of STERIS in a research note on Friday, May 16th. Wall Street Zen raised shares of STERIS from a "buy" rating to a "strong-buy" rating in a research note on Saturday, June 14th. Jefferies Financial Group initiated 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. Stephens reissued an "overweight" rating and set a $250.00 price target on shares of STERIS in a research note on Thursday, May 15th. Finally, Morgan Stanley raised shares of STERIS from an "equal weight" rating to an "overweight" rating and lifted their price target for the stock from $260.00 to $276.00 in a research note on Tuesday. Two equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $266.50.

Read Our Latest Analysis on STERIS

Insider Buying and Selling at STERIS

In other news, SVP Cary L. Majors sold 12,828 shares of STERIS stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $250.08, for a total value of $3,208,026.24. Following the completion of the transaction, the senior vice president owned 11,372 shares of the company's stock, valued at $2,843,909.76. The trade was a 53.01% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Daniel A. Carestio sold 17,626 shares of the company's stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $242.56, for a total transaction of $4,275,362.56. Following 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. Company insiders own 1.07% of the company's stock.

STERIS Trading Down 0.9%

NYSE:STE traded down $2.01 during trading hours on Thursday, hitting $225.61. The company had a trading volume of 101,933 shares, compared to its average volume of 553,601. The company has a market capitalization of $22.19 billion, a PE ratio of 36.35 and a beta of 0.92. The stock has a 50-day moving average price of $238.75 and a 200 day moving average price of $226.28. STERIS plc has a 52 week low of $200.98 and a 52 week high of $252.79. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.96 and a quick ratio of 1.39.

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

STERIS Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 26th. Shareholders of record on Tuesday, June 10th were given a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a yield of 1.01%. The ex-dividend date was Tuesday, June 10th. STERIS's dividend payout ratio is currently 36.77%.

STERIS Company Profile

(Free Report)

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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Institutional Ownership by Quarter for STERIS (NYSE:STE)

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