Mirae Asset Global Investments Co. Ltd. Acquires 1,288 Shares of STERIS plc (NYSE:STE)

Mirae Asset Global Investments Co. Ltd. grew its stake in STERIS plc (NYSE:STE - Free Report) by 11.7% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 12,258 shares of the medical equipment provider's stock after purchasing an additional 1,288 shares during the quarter. Mirae Asset Global Investments Co. Ltd.'s holdings in STERIS were worth $2,734,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the stock. QRG Capital Management Inc. lifted its stake in STERIS by 122.5% in the first quarter. QRG Capital Management Inc. now owns 2,832 shares of the medical equipment provider's stock valued at $642,000 after buying an additional 1,559 shares during the period. Dynamic Advisor Solutions LLC increased its stake in shares of STERIS by 23.6% in the 1st quarter. Dynamic Advisor Solutions LLC now owns 1,203 shares of the medical equipment provider's stock valued at $273,000 after acquiring an additional 230 shares during the last quarter. Golden State Wealth Management LLC raised its position in shares of 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 acquiring an additional 166 shares during the period. Cambridge Investment Research Advisors Inc. boosted its stake in STERIS by 5.1% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 8,951 shares of the medical equipment provider's stock worth $2,029,000 after acquiring an additional 431 shares during the last quarter. Finally, GAMMA Investing LLC grew its holdings in STERIS by 58.2% during the first quarter. GAMMA Investing LLC now owns 1,810 shares of the medical equipment provider's stock valued at $410,000 after purchasing an additional 666 shares during the period. Institutional investors and hedge funds own 94.69% of the company's stock.

STERIS Stock Performance

STERIS stock traded down $0.70 during mid-day trading on Friday, hitting $237.55. 242,380 shares of the company's stock traded hands, compared to its average volume of 549,170. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.96 and a quick ratio of 1.39. The firm has a 50 day simple moving average of $237.86 and a two-hundred day simple moving average of $225.06. STERIS plc has a fifty-two week low of $200.98 and a fifty-two week high of $252.79. The stock has a market cap of $23.37 billion, a price-to-earnings ratio of 38.31 and a beta of 0.92.

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

STERIS Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, June 26th. Shareholders of record on Tuesday, June 10th were issued a $0.57 dividend. The ex-dividend date was Tuesday, June 10th. This represents a $2.28 annualized dividend and a yield of 0.96%. STERIS's dividend payout ratio is currently 36.77%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on STE shares. Citigroup restated an "outperform" rating on shares of STERIS in a research report on Friday, May 16th. Needham & Company LLC restated a "hold" rating on shares of STERIS in a report on Monday, April 7th. Stephens reiterated an "overweight" rating and set a $250.00 price objective on shares of STERIS in a report on Thursday, May 15th. Morgan Stanley increased their target price on STERIS from $240.00 to $260.00 and gave the stock an "equal weight" rating in a research note on Monday, May 19th. Finally, JMP Securities raised their target price on shares of STERIS from $265.00 to $280.00 and gave the stock a "market outperform" rating in a report on Friday, May 16th. Three research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $263.83.

Insider Activity at STERIS

In other news, SVP Cary L. Majors sold 12,828 shares of the business's stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $250.08, for a total transaction of $3,208,026.24. Following the completion of the sale, the senior vice president owned 11,372 shares in the company, valued at $2,843,909.76. The trade was a 53.01% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Daniel A. Carestio sold 17,626 shares of the company's stock in a transaction that occurred on Thursday, June 5th. The shares were 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 in the company, valued at $12,463,945.60. The trade was 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 Company 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.