Mitsubishi UFJ Asset Management Co. Ltd. Reduces Stock Position in STERIS plc $STE

Key Points

• Mitsubishi UFJ Asset Management cut its stake in STERIS by 1.5% in Q4, selling 23,564 shares and now owns 1,543,674 shares (~1.57% of the company) valued at about $386 million.
• Institutional ownership is high at 94.69%, with several firms (notably Goldman Sachs, which increased its stake by 32.3%) adding shares in Q1.
• STERIS has a market cap of $20.89 billion and a PE of 29.7; it reported Q4 EPS of $2.53 (meeting estimates) with revenue up 9.2% year‑over‑year and declared a $0.63 quarterly dividend (1.2% yield).

Mitsubishi UFJ Asset Management Co. Ltd. decreased its holdings in STERIS plc (NYSE:STE - Free Report) by 1.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,543,674 shares of the medical equipment provider's stock after selling 23,564 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned about 1.57% of STERIS worth $385,980,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Jones Financial Companies Lllp lifted its holdings in STERIS by 46.1% during the 1st quarter. Jones Financial Companies Lllp now owns 1,106 shares of the medical equipment provider's stock valued at $251,000 after buying an additional 349 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in STERIS by 32.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 242,732 shares of the medical equipment provider's stock worth $55,015,000 after acquiring an additional 59,264 shares in the last quarter. Empowered Funds LLC increased its position in shares of STERIS by 16.1% during the first quarter. Empowered Funds LLC now owns 2,303 shares of the medical equipment provider's stock worth $522,000 after acquiring an additional 319 shares during the period. Woodline Partners LP raised its stake in shares of STERIS by 40.0% during the first quarter. Woodline Partners LP now owns 8,300 shares of the medical equipment provider's stock valued at $1,881,000 after acquiring an additional 2,372 shares in the last quarter. Finally, Jane Street Group LLC raised its stake in shares of STERIS by 38.9% during the first quarter. Jane Street Group LLC now owns 20,716 shares of the medical equipment provider's stock valued at $4,695,000 after acquiring an additional 5,803 shares in the last quarter. 94.69% of the stock is currently owned by institutional investors.

STERIS Trading Up 0.3%

STERIS stock opened at $212.98 on Wednesday. The company has a current ratio of 2.48, a quick ratio of 1.75 and a debt-to-equity ratio of 0.26. The firm has a market cap of $20.89 billion, a PE ratio of 29.70 and a beta of 0.95. The stock's 50 day simple moving average is $225.61 and its two-hundred day simple moving average is $244.63. STERIS plc has a 12 month low of $209.61 and a 12 month high of $269.44.

STERIS (NYSE:STE - Get Free Report) last released its quarterly earnings data on Wednesday, February 4th. The medical equipment provider reported $2.53 earnings per share for the quarter, meeting analysts' consensus estimates of $2.53. STERIS had a net margin of 12.15% and a return on equity of 14.34%. During the same period in the previous year, the business earned $2.32 earnings per share. The firm's quarterly revenue was up 9.2% compared to the same quarter last year. Analysts anticipate that STERIS plc will post 10.22 earnings per share for the current year.

STERIS Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 26th. Investors of record on Monday, June 8th will be paid a $0.63 dividend. This represents a $2.52 annualized dividend and a dividend yield of 1.2%. The ex-dividend date is Monday, June 8th. STERIS's payout ratio is currently 35.15%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on STE shares. Wall Street Zen cut STERIS from a "strong-buy" rating to a "buy" rating in a report on Sunday, April 26th. Weiss Ratings lowered STERIS from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Thursday, April 16th. Five equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, STERIS currently has an average rating of "Moderate Buy" and an average price target of $275.20.

Insiders Place Their Bets

In related news, Director Cynthia L. Feldmann sold 3,098 shares of the company's stock in a transaction dated Thursday, March 5th. The stock was sold at an average price of $237.21, for a total value of $734,876.58. Following the completion of the transaction, the director owned 705 shares of the company's stock, valued at approximately $167,233.05. This represents a 81.46% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 1.07% of the company's stock.

STERIS Company Profile

STERIS Corporation NYSE: STE is a global provider of infection prevention, contamination control and procedural products and services for the healthcare, life sciences, pharmaceutical and medical device industries. The company develops, manufactures and supports a broad portfolio of equipment and consumables designed to reduce risk of infection, maintain sterile environments and support critical clinical and manufacturing procedures.

Its offerings include sterilization and decontamination systems, instrument washers and washers-disinfectors, endoscope reprocessing solutions, surgical equipment and procedural disposables, and contamination-control products for cleanrooms and laboratories.

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