Mutual of America Capital Management LLC Buys 8,548 Shares of STERIS plc $STE

Key Points

• Mutual of America Capital Management LLC increased its stake in STERIS plc by 74.6%, acquiring an additional 8,548 shares during the second quarter, bringing its total ownership to 19,999 shares valued at approximately $4.8 million.
• Insider transactions reveal that CEO Daniel A. Carestio sold 159 shares for about $38,449, while CAO Karen L. Burton sold 7,900 shares totaling nearly $1.91 million.
• Several analysts upgraded STERIS, with Wall Street Zen rating it a "strong-buy" and others raising the price target up to $295, reflecting positive sentiment in the stock's performance.

Mutual of America Capital Management LLC boosted its stake in STERIS plc (NYSE:STE - Free Report) by 74.6% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 19,999 shares of the medical equipment provider's stock after acquiring an additional 8,548 shares during the period. Mutual of America Capital Management LLC's holdings in STERIS were worth $4,804,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of the stock. GAMMA Investing LLC increased its position in STERIS by 58.2% in the first quarter. GAMMA Investing LLC now owns 1,810 shares of the medical equipment provider's stock worth $410,000 after buying an additional 666 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in STERIS by 11.0% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 8,078 shares of the medical equipment provider's stock valued at $1,831,000 after purchasing an additional 801 shares during the last quarter. Blue Trust Inc. lifted its holdings in STERIS by 16.5% during the first quarter. Blue Trust Inc. now owns 395 shares of the medical equipment provider's stock valued at $90,000 after purchasing an additional 56 shares during the last quarter. Kentucky Retirement Systems Insurance Trust Fund bought a new position in STERIS during the first quarter worth about $650,000. Finally, Cambridge Investment Research Advisors Inc. increased its stake in shares of STERIS by 5.1% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 8,951 shares of the medical equipment provider's stock worth $2,029,000 after purchasing an additional 431 shares in the last quarter. Hedge funds and other institutional investors own 94.69% of the company's stock.

Insider Activity at STERIS

In other news, CEO Daniel A. Carestio sold 159 shares of the company's stock in a transaction dated Monday, October 6th. The shares were sold at an average price of $241.82, for a total transaction of $38,449.38. Following the completion of the transaction, the chief executive officer directly owned 51,096 shares of the company's stock, valued at approximately $12,356,034.72. This represents a 0.31% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Karen L. Burton sold 7,900 shares of the stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $241.73, for a total transaction of $1,909,667.00. Following the sale, the chief accounting officer owned 5,994 shares of the company's stock, valued at approximately $1,448,929.62. This represents a 56.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 18,868 shares of company stock worth $4,585,389 over the last ninety days. Insiders own 1.07% of the company's stock.

Analyst Ratings Changes

Several research analysts recently commented on STE shares. Wall Street Zen raised shares of STERIS from a "buy" rating to a "strong-buy" rating in a report on Sunday, September 14th. KeyCorp increased their price objective on STERIS from $277.00 to $288.00 and gave the stock an "overweight" rating in a report on Tuesday, July 22nd. Morgan Stanley lifted their target price on STERIS from $276.00 to $295.00 and gave the company an "overweight" rating in a report on Friday, August 8th. Finally, Weiss Ratings reissued a "buy (b)" rating on shares of STERIS in a report on Tuesday, October 14th. Seven analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, STERIS currently has an average rating of "Moderate Buy" and an average price target of $273.50.

STERIS Stock Up 0.1%

Shares of NYSE:STE opened at $242.29 on Thursday. The stock has a market capitalization of $23.86 billion, a P/E ratio of 37.10 and a beta of 1.01. The stock's 50-day moving average price is $244.96 and its 200-day moving average price is $236.71. 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 $253.00.

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, beating the consensus estimate of $2.32 by $0.02. STERIS had a return on equity of 14.17% and a net margin of 11.61%.The company had revenue of $1.40 billion during the quarter, compared to analysts' expectations of $1.36 billion. During the same period in the prior year, the business posted $2.03 EPS. STERIS's quarterly revenue was up 8.8% compared to the same quarter last year. On average, equities analysts anticipate 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 was paid on Friday, September 26th. Investors of record on Thursday, September 4th were paid a $0.63 dividend. The ex-dividend date of this dividend was Thursday, September 4th. This is a positive change from STERIS's previous quarterly dividend of $0.57. This represents a $2.52 annualized dividend and a dividend yield of 1.0%. STERIS's payout ratio is presently 38.59%.

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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