Mitsubishi UFJ Asset Management UK Ltd. Buys 3,000 Shares of STERIS plc (NYSE:STE)

Key Points

• Mitsubishi UFJ Asset Management UK Ltd. increased its stake in STERIS plc by 300% in Q1, acquiring an additional 3,000 shares, bringing its total holdings to 4,000 shares valued at approximately $907,000.
• STERIS recently reported Q1 earnings of $2.34 EPS, surpassing estimates, with revenues of $1.40 billion representing an 8.8% year-over-year increase.
• The company announced a quarterly dividend of $0.63 per share, marking an increase from the previous dividend and reflecting a 1.0% yield.

Mitsubishi UFJ Asset Management UK Ltd. boosted its stake in shares of STERIS plc (NYSE:STE - Free Report) by 300.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,000 shares of the medical equipment provider's stock after buying an additional 3,000 shares during the quarter. Mitsubishi UFJ Asset Management UK Ltd.'s holdings in STERIS were worth $907,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Grove Bank & Trust raised its holdings in shares of STERIS by 4,733.3% in the 1st quarter. Grove Bank & Trust now owns 145 shares of the medical equipment provider's stock valued at $33,000 after purchasing an additional 142 shares in the last quarter. Zions Bancorporation National Association UT bought a new stake in shares of STERIS in the 1st quarter valued at about $37,000. ORG Wealth Partners LLC bought a new stake in shares of STERIS in the 1st quarter valued at about $43,000. Golden State Wealth Management LLC raised its holdings 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 purchasing an additional 166 shares in the last quarter. Finally, Costello Asset Management INC purchased a new position in shares of STERIS in the 1st quarter worth approximately $45,000. Institutional investors own 94.69% of the company's stock.

STERIS Stock Performance

Shares of NYSE STE opened at $247.44 on Thursday. The company has a current ratio of 2.22, a quick ratio of 1.53 and a debt-to-equity ratio of 0.27. STERIS plc has a 12 month low of $200.98 and a 12 month high of $252.79. The company has a 50 day simple moving average of $234.24 and a two-hundred day simple moving average of $229.22. The stock has a market cap of $24.37 billion, a price-to-earnings ratio of 37.89 and a beta of 0.92.

STERIS (NYSE:STE - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The medical equipment provider reported $2.34 EPS for the quarter, beating the consensus estimate of $2.32 by $0.02. STERIS had a net margin of 11.61% and a return on equity of 14.17%. The business had revenue of $1.40 billion during the quarter, compared to analysts' expectations of $1.36 billion. During the same period in the previous year, the business posted $2.03 EPS. The business's quarterly revenue was up 8.8% compared to the same quarter last year. As a group, analysts predict that STERIS plc will post 9.08 earnings per share for the current year.

STERIS Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Investors of record on Thursday, September 4th will be paid a $0.63 dividend. The ex-dividend date is Thursday, September 4th. This represents a $2.52 annualized dividend and a dividend yield of 1.0%. This is an increase from STERIS's previous quarterly dividend of $0.57. STERIS's dividend payout ratio (DPR) is presently 34.92%.

Insider Transactions at STERIS

In other STERIS news, Director Mohsen Sohi sold 4,110 shares of the company'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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Cary L. Majors sold 12,828 shares of the stock in a transaction dated Tuesday, May 20th. The shares were 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 of the company's stock, valued at $2,843,909.76. This trade represents a 53.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 45,959 shares of company stock worth $11,231,764. Insiders own 1.07% of the company's stock.

Analyst Upgrades and Downgrades

STE has been the topic of a number of analyst reports. JMP Securities lifted their price objective on shares of STERIS from $265.00 to $280.00 and gave the stock a "market outperform" rating in a research report on Friday, May 16th. Jefferies Financial Group assumed coverage on shares of STERIS in a research report on Thursday, May 29th. They issued a "hold" rating and a $263.00 price objective on the stock. Citigroup reissued an "outperform" rating on shares of STERIS in a research report on Friday, May 16th. Morgan Stanley boosted their target price on shares of STERIS from $276.00 to $295.00 and gave the stock an "overweight" rating in a research report on Friday, August 8th. Finally, Wall Street Zen raised shares of STERIS from a "buy" rating to a "strong-buy" rating in a research report on Saturday, August 9th. Two investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $273.50.

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.

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