Northern Trust Corp Has $290.92 Million Position in STERIS plc $STE

Key Points

• Northern Trust Corp increased its stake in STERIS plc to $290.92 million, reflecting a 5.8% growth by acquiring 70,523 additional shares during the first quarter.
• Insiders at STERIS sold over 33,000 shares of stock in the last 90 days, with significant transactions from Director Mohsen Sohi and CAO Karen L. Burton, representing decreases in their holdings of 15.53% and 56.86%, respectively.
• STERIS recently announced a dividend increase, raising its quarterly payout from $0.57 to $0.63 per share, reflecting a boost in returns for shareholders.

Northern Trust Corp grew its stake in STERIS plc (NYSE:STE - Free Report) by 5.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,283,560 shares of the medical equipment provider's stock after purchasing an additional 70,523 shares during the quarter. Northern Trust Corp owned approximately 1.31% of STERIS worth $290,919,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Park Edge Advisors LLC raised its holdings in STERIS by 1.0% in the 1st quarter. Park Edge Advisors LLC now owns 4,709 shares of the medical equipment provider's stock valued at $1,067,000 after acquiring an additional 47 shares during the period. Blue Trust Inc. increased its stake in shares of STERIS by 16.5% during the first quarter. Blue Trust Inc. now owns 395 shares of the medical equipment provider's stock worth $90,000 after purchasing an additional 56 shares during the period. Taylor Frigon Capital Management LLC lifted its holdings in STERIS by 1.0% during the 1st quarter. Taylor Frigon Capital Management LLC now owns 6,280 shares of the medical equipment provider's stock worth $1,423,000 after purchasing an additional 62 shares during the last quarter. Gallagher Fiduciary Advisors LLC lifted its holdings in STERIS by 3.3% during the 4th quarter. Gallagher Fiduciary Advisors LLC now owns 1,970 shares of the medical equipment provider's stock worth $405,000 after purchasing an additional 63 shares during the last quarter. Finally, West Coast Financial LLC boosted its stake in STERIS by 3.9% in the 1st quarter. West Coast Financial LLC now owns 1,658 shares of the medical equipment provider's stock valued at $376,000 after purchasing an additional 63 shares during the period. Institutional investors own 94.69% of the company's stock.

Insiders Place Their Bets

In other STERIS news, Director Mohsen Sohi sold 4,110 shares of the firm's stock in a transaction on Monday, August 11th. The stock was sold at an average price of $241.96, for a total value of $994,455.60. Following the sale, the director owned 22,361 shares of the company's stock, valued at approximately $5,410,467.56. This trade represents a 15.53% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Karen L. Burton sold 7,900 shares of the business's stock in a transaction on Monday, August 11th. The stock was sold at an average price of $241.73, for a total value of $1,909,667.00. Following the transaction, the chief accounting officer directly owned 5,994 shares of the company's stock, valued at $1,448,929.62. This trade represents a 56.86% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 33,131 shares of company stock worth $8,023,737. 1.07% of the stock is owned by company insiders.

STERIS Trading Up 0.7%

STE opened at $249.3870 on Thursday. The stock has a market capitalization of $24.56 billion, a price-to-earnings ratio of 38.19 and a beta of 0.92. The company has a quick ratio of 1.53, a current ratio of 2.22 and a debt-to-equity ratio of 0.27. STERIS plc has a twelve month low of $200.98 and a twelve month high of $252.79. The company has a 50-day simple moving average of $234.65 and a 200 day simple moving average of $230.09.

STERIS (NYSE:STE - Get Free Report) last issued its earnings results 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 company 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 company earned $2.03 EPS. The business's revenue for the quarter was up 8.8% compared to the same quarter last year. Analysts predict that STERIS plc will post 9.08 EPS for the current fiscal year.

STERIS Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Thursday, September 4th will be paid 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%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on STE. Stephens reiterated an "overweight" rating and set a $250.00 price objective on shares of STERIS in a research report on Thursday, May 15th. Morgan Stanley raised their price target 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. Jefferies Financial Group assumed coverage on shares of STERIS in a research note on Thursday, May 29th. They issued a "hold" rating and a $263.00 price objective for the company. JMP Securities boosted their price objective on shares of STERIS from $265.00 to $280.00 and gave the company a "market outperform" rating in a report on Friday, May 16th. Finally, Wall Street Zen raised shares of STERIS from a "buy" rating to a "strong-buy" rating in a report on Saturday, August 9th. Six analysts have rated the stock with a Buy rating and two have issued a Hold 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 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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