STERIS plc (NYSE:STE) Shares Bought by Middleton & Co. Inc. MA

Key Points

• Middleton & Co. Inc. MA has increased its holdings in STERIS plc by 3.4%, acquiring an additional 1,670 shares, bringing its total ownership to 50,805 shares valued at approximately $11.5 million.
• STERIS recently reported a quarterly earnings of $2.74 EPS, exceeding analyst estimates, and recorded revenue of $1.48 billion for the quarter, a 5.7% increase from the previous year.
• The company has announced a quarterly dividend increase to $0.63 per share, raising its annualized dividend yield to 1.1%, with a payout ratio of 40.65%.

Middleton & Co. Inc. MA increased its position in shares of STERIS plc (NYSE:STE - Free Report) by 3.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 50,805 shares of the medical equipment provider's stock after purchasing an additional 1,670 shares during the quarter. STERIS accounts for approximately 1.3% of Middleton & Co. Inc. MA's investment portfolio, making the stock its 26th largest position. Middleton & Co. Inc. MA owned 0.05% of STERIS worth $11,515,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Haven Private LLC acquired a new stake in STERIS during the 1st quarter valued at approximately $298,000. Argent Trust Co raised its stake in shares of STERIS by 14.1% during the 1st quarter. Argent Trust Co now owns 2,524 shares of the medical equipment provider's stock worth $572,000 after purchasing an additional 311 shares during the period. Bank of Nova Scotia boosted its holdings in shares of STERIS by 3.8% in the 1st quarter. Bank of Nova Scotia now owns 61,762 shares of the medical equipment provider's stock worth $13,998,000 after buying an additional 2,254 shares during the last quarter. PNC Financial Services Group Inc. raised its stake in STERIS by 35.8% in the 1st quarter. PNC Financial Services Group Inc. now owns 51,159 shares of the medical equipment provider's stock valued at $11,595,000 after acquiring an additional 13,474 shares during the period. Finally, Nicolet Advisory Services LLC bought a new stake in shares of STERIS during the first quarter valued at about $204,000. Institutional investors own 94.69% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Wall Street Zen lowered STERIS from a "strong-buy" rating to a "buy" rating in a research note on Friday, July 18th. Morgan Stanley upgraded STERIS from an "equal weight" rating to an "overweight" rating and raised their price target for the company from $260.00 to $276.00 in a report on Tuesday, July 15th. Jefferies Financial Group initiated coverage on STERIS in a research report on Thursday, May 29th. They issued a "hold" rating and a $263.00 target price on the stock. Stephens reissued an "overweight" rating and issued a $250.00 target price on shares of STERIS in a report on Thursday, May 15th. Finally, JMP Securities lifted their target price on STERIS from $265.00 to $280.00 and gave the company a "market outperform" rating in a research note on Friday, May 16th. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $270.33.

STERIS Trading Down 1.0%

STE traded down $2.28 during trading hours on Wednesday, reaching $221.59. 725,974 shares of the company's stock traded hands, compared to its average volume of 680,424. The firm has a 50-day moving average price of $234.35 and a 200 day moving average price of $228.30. STERIS plc has a 52-week low of $200.98 and a 52-week high of $252.79. The company has a quick ratio of 1.39, a current ratio of 1.96 and a debt-to-equity ratio of 0.29. The firm has a market capitalization of $21.80 billion, a PE ratio of 35.74 and a beta of 0.92.

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, topping the consensus estimate of $2.32 by $0.02. STERIS had a return on equity of 14.21% and a net margin of 11.26%. During the same period in the previous year, the business posted $2.03 earnings per share. The firm's revenue for the quarter was up 8.8% compared to the same quarter last year. As a group, sell-side analysts predict that STERIS plc will post 9.08 EPS for the current fiscal year.

STERIS Increases Dividend

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

Insider Buying and Selling at STERIS

In other news, 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 value of $4,275,362.56. Following the completion of the transaction, the chief executive officer directly owned 51,385 shares of the company's stock, valued at approximately $12,463,945.60. The trade was a 25.54% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Cary L. Majors sold 12,828 shares of the business's stock in a transaction on 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 directly owned 11,372 shares of the company's stock, valued at approximately $2,843,909.76. The trade was a 53.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.07% of the stock is currently owned by corporate insiders.

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.