Neuberger Berman Group LLC Has $2.67 Million Holdings in STERIS plc $STE

Key Points

• Neuberger Berman Group LLC increased its stake in STERIS plc by 30.7% in the first quarter, owning 11,786 shares valued at approximately $2.67 million.
• STERIS announced a quarterly dividend of $0.63 per share, reflecting an increase from the previous $0.57, with an annual yield of 1.0%.
• Several analysts recently lifted their price targets for STERIS, with the consensus target price now at $273.50 and a rating of "Moderate Buy."

Neuberger Berman Group LLC grew its position in STERIS plc (NYSE:STE - Free Report) by 30.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 11,786 shares of the medical equipment provider's stock after acquiring an additional 2,768 shares during the quarter. Neuberger Berman Group LLC's holdings in STERIS were worth $2,671,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the company. Grove Bank & Trust lifted its position in shares of STERIS by 4,733.3% during the 1st quarter. Grove Bank & Trust now owns 145 shares of the medical equipment provider's stock worth $33,000 after buying an additional 142 shares during the period. Zions Bancorporation National Association UT bought a new position in shares of STERIS during the 1st quarter worth approximately $37,000. ORG Wealth Partners LLC bought a new position in shares of STERIS during the 1st quarter worth approximately $43,000. Golden State Wealth Management LLC lifted its position in shares of STERIS by 503.0% during the 1st quarter. Golden State Wealth Management LLC now owns 199 shares of the medical equipment provider's stock worth $45,000 after buying an additional 166 shares during the period. Finally, Costello Asset Management INC bought a new position in shares of STERIS during the 1st quarter worth approximately $45,000. Institutional investors own 94.69% of the company's stock.

Analyst Upgrades and Downgrades

STE has been the subject of several research analyst reports. Stephens reiterated an "overweight" rating and issued a $250.00 price objective on shares of STERIS in a research report on Thursday, May 15th. Wall Street Zen upgraded STERIS from a "buy" rating to a "strong-buy" rating in a research report on Saturday, August 9th. JMP Securities lifted their price objective on STERIS from $265.00 to $280.00 and gave the company a "market outperform" rating in a research report on Friday, May 16th. Citigroup reissued an "outperform" rating on shares of STERIS in a research note on Friday, May 16th. Finally, Jefferies Financial Group initiated coverage on STERIS in a research note on Thursday, May 29th. They issued a "hold" rating and a $263.00 target price for the company. Six analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $273.50.

STERIS Trading Up 1.1%

NYSE:STE traded up $2.5960 on Tuesday, reaching $247.1560. The company's stock had a trading volume of 196,265 shares, compared to its average volume of 597,860. STERIS plc has a 1-year low of $200.98 and a 1-year high of $252.79. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.53 and a current ratio of 2.22. The firm has a market cap of $24.34 billion, a PE ratio of 37.85 and a beta of 0.92. The business's 50-day moving average price is $234.38 and its two-hundred day moving average price is $229.84.

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

STERIS Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Investors of record on Thursday, September 4th will be issued a dividend of $0.63 per share. The ex-dividend date is Thursday, September 4th. This is a boost from STERIS's previous quarterly dividend of $0.57. This represents a $2.52 annualized dividend and a yield of 1.0%. STERIS's dividend payout ratio is currently 34.92%.

Insider Buying and Selling

In related news, CAO Karen L. Burton sold 7,900 shares of the company's 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 in the company, valued at approximately $1,448,929.62. This represents a 56.86% 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, CEO Daniel A. Carestio sold 17,626 shares of the company's stock in a transaction dated 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 sale, the chief executive officer 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. Over the last ninety days, insiders have sold 33,131 shares of company stock worth $8,023,737. 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.