Sciencast Management LP Grows Holdings in STERIS plc $STE

Key Points

• Sciencast Management LP increased its stake in STERIS plc by 109.2%, acquiring an additional 3,758 shares, bringing its total holdings to 7,200 shares worth approximately $1.63 million.
• STERIS recently announced a quarterly dividend increase to $0.63, up from $0.57, with an annualized dividend yield of 1.0%.
• Institutional investors own 94.69% of STERIS's stock, reflecting strong investor interest in the medical equipment provider.

Sciencast Management LP boosted its position in shares of STERIS plc (NYSE:STE - Free Report) by 109.2% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 7,200 shares of the medical equipment provider's stock after buying an additional 3,758 shares during the quarter. Sciencast Management LP's holdings in STERIS were worth $1,632,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in STE. Cary Street Partners Financial LLC acquired a new stake in STERIS during the fourth quarter valued at $80,000. EP Wealth Advisors LLC grew its position in STERIS by 20.1% during the fourth quarter. EP Wealth Advisors LLC now owns 1,011 shares of the medical equipment provider's stock valued at $208,000 after buying an additional 169 shares during the period. Deutsche Bank AG grew its position in STERIS by 19.7% during the fourth quarter. Deutsche Bank AG now owns 382,407 shares of the medical equipment provider's stock valued at $78,608,000 after buying an additional 62,968 shares during the period. Ethic Inc. grew its position in STERIS by 5.1% during the fourth quarter. Ethic Inc. now owns 6,087 shares of the medical equipment provider's stock valued at $1,251,000 after buying an additional 297 shares during the period. Finally, Focus Partners Wealth grew its position in shares of STERIS by 12.8% in the fourth quarter. Focus Partners Wealth now owns 8,422 shares of the medical equipment provider's stock valued at $1,731,000 after purchasing an additional 957 shares during the period. Institutional investors and hedge funds own 94.69% of the company's stock.

Insider Activity at STERIS

In other news, Director Cynthia L. Feldmann sold 3,495 shares of the company's stock in a transaction on Monday, August 11th. The shares were sold at an average price of $241.56, for a total value of $844,252.20. Following the completion of the transaction, the director owned 705 shares in the company, valued at approximately $170,299.80. This represents a 83.21% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Karen L. Burton sold 7,900 shares of the company's stock in a transaction on Monday, August 11th. The shares were sold at an average price of $241.73, for a total transaction of $1,909,667.00. Following the completion of the transaction, the chief accounting officer owned 5,994 shares of the company's stock, valued at approximately $1,448,929.62. The trade was a 56.86% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 18,709 shares of company stock worth $4,546,940. Corporate insiders own 1.07% of the company's stock.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. 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 target price on the stock. JMP Securities lifted their target price on shares of STERIS from $265.00 to $280.00 and gave the company a "market outperform" rating in a research report on Friday, May 16th. Stephens reiterated an "overweight" rating and issued a $250.00 target price on shares of STERIS in a research report on Thursday, May 15th. KeyCorp lifted their target price on shares of STERIS from $277.00 to $288.00 and gave the company an "overweight" rating in a research report on Tuesday, July 22nd. Finally, Citigroup reiterated an "outperform" rating on shares of STERIS in a research report on Friday, May 16th. Six investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, STERIS currently has an average rating of "Moderate Buy" and a consensus target price of $273.50.

STERIS Stock Up 3.5%

Shares of STERIS stock traded up $8.50 during trading hours on Thursday, hitting $252.33. The company had a trading volume of 758,380 shares, compared to its average volume of 445,756. The company's 50-day moving average is $237.16 and its two-hundred day moving average is $232.91. STERIS plc has a twelve month low of $200.98 and a twelve month high of $252.79. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.22 and a quick ratio of 1.53. The company has a market cap of $24.85 billion, a P/E ratio of 38.64 and a beta of 0.95.

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 (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 quarter in the prior year, the business posted $2.03 EPS. The company's revenue for the quarter was up 8.8% on a year-over-year basis. 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. Stockholders of record on Thursday, September 4th will be issued a $0.63 dividend. This represents a $2.52 annualized dividend and a dividend yield of 1.0%. The ex-dividend date is Thursday, September 4th. This is a positive change from STERIS's previous quarterly dividend of $0.57. STERIS's dividend payout ratio (DPR) is currently 38.59%.

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.