STERIS plc $STE Shares Sold by Rafferty Asset Management LLC

Key Points

• Rafferty Asset Management LLC has reduced its holdings in STERIS plc by 18.7%, selling 2,091 shares during the first quarter, leaving its total to 9,098 shares valued at approximately $2.06 million.
• Several institutional investors have significantly increased their stakes in STERIS, with Select Equity Group L.P. boosting its share by 165.3%, owning 2.6 million shares valued at $534.4 million.
• STERIS recently announced a quarterly dividend increase to $0.63, up from $0.57, reflecting an annualized dividend of $2.52 and a yield of 1.0%.

Rafferty Asset Management LLC lowered its holdings in shares of STERIS plc (NYSE:STE - Free Report) by 18.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,098 shares of the medical equipment provider's stock after selling 2,091 shares during the period. Rafferty Asset Management LLC's holdings in STERIS were worth $2,062,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of STE. Findlay Park Partners LLP grew its stake in shares of STERIS by 1.4% in the first quarter. Findlay Park Partners LLP now owns 788,152 shares of the medical equipment provider's stock worth $178,635,000 after acquiring an additional 10,600 shares during the period. Kayne Anderson Rudnick Investment Management LLC lifted its stake in shares of STERIS by 2.6% during the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 98,148 shares of the medical equipment provider's stock valued at $22,245,000 after buying an additional 2,533 shares in the last quarter. ICONIQ Capital LLC bought a new stake in STERIS during the 1st quarter valued at approximately $203,000. SVB Wealth LLC purchased a new position in shares of STERIS in the first quarter worth $69,000. Finally, Northwestern Mutual Wealth Management Co. increased its stake in STERIS by 14.0% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 2,233 shares of the medical equipment provider's stock worth $506,000 after acquiring an additional 274 shares during the last quarter. 94.69% of the stock is currently owned by institutional investors.

Insider Transactions at STERIS

In other STERIS news, Director Cynthia L. Feldmann sold 3,495 shares of the stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $241.56, for a total transaction of $844,252.20. Following the completion of the transaction, the director owned 705 shares of the company's stock, valued at $170,299.80. This trade represents a 83.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Renato Tamaro sold 3,204 shares of the company's stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $249.24, for a total transaction of $798,564.96. Following the completion of the transaction, the vice president owned 7,221 shares in the company, valued at approximately $1,799,762.04. This represents a 30.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 18,709 shares of company stock worth $4,546,940. Company insiders own 1.07% of the company's stock.

STERIS Price Performance

STE traded up $1.08 during trading on Thursday, hitting $242.91. The company's stock had a trading volume of 174,801 shares, compared to its average volume of 588,806. The company has a current ratio of 2.22, a quick ratio of 1.53 and a debt-to-equity ratio of 0.27. The firm has a market capitalization of $23.92 billion, a price-to-earnings ratio of 37.20 and a beta of 0.95. The business's fifty day simple moving average is $236.22 and its 200 day simple moving average is $231.83. STERIS plc has a twelve month low of $200.98 and a twelve month high of $252.79.

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

STERIS Increases Dividend

The company also recently disclosed 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 of this dividend is Thursday, September 4th. This represents a $2.52 annualized dividend and a yield of 1.0%. This is an increase from STERIS's previous quarterly dividend of $0.57. STERIS's dividend payout ratio is currently 34.92%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. JMP Securities upped 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. Wall Street Zen raised STERIS from a "buy" rating to a "strong-buy" rating in a research report on Saturday, August 9th. KeyCorp increased their target price on STERIS from $277.00 to $288.00 and gave the company an "overweight" rating in a research report on Tuesday, July 22nd. Citigroup reiterated an "outperform" rating on shares of STERIS in a research note on Friday, May 16th. Finally, Jefferies Financial Group initiated coverage on shares of STERIS in a research report on Thursday, May 29th. They set a "hold" rating and a $263.00 target price for the company. Six investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $273.50.

About STERIS

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.