Sciencast Management LP Has $1.63 Million Stock Position 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 lifted its position in STERIS plc (NYSE:STE - Free Report) by 109.2% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 7,200 shares of the medical equipment provider's stock after purchasing 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 large investors have also made changes to their positions in the company. Vanguard Group Inc. grew its holdings in shares of STERIS by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 11,957,852 shares of the medical equipment provider's stock worth $2,710,247,000 after purchasing an additional 46,628 shares during the last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of STERIS by 9.1% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 5,439,349 shares of the medical equipment provider's stock worth $1,232,828,000 after purchasing an additional 452,146 shares during the last quarter. Generation Investment Management LLP grew its holdings in shares of STERIS by 5.4% in the 1st quarter. Generation Investment Management LLP now owns 3,354,545 shares of the medical equipment provider's stock worth $760,308,000 after purchasing an additional 170,392 shares during the last quarter. Select Equity Group L.P. grew its holdings in shares of STERIS by 165.3% in the 4th quarter. Select Equity Group L.P. now owns 2,599,730 shares of the medical equipment provider's stock worth $534,400,000 after purchasing an additional 1,619,796 shares during the last quarter. Finally, Orbis Allan Gray Ltd bought a new stake in shares of STERIS in the 1st quarter worth about $349,950,000. Institutional investors own 94.69% of the company's stock.

STERIS Trading Down 0.9%

Shares of NYSE STE traded down $2.35 during mid-day trading on Friday, hitting $250.08. The company's stock had a trading volume of 774,374 shares, compared to its average volume of 476,696. The stock has a market cap of $24.63 billion, a price-to-earnings ratio of 38.30 and a beta of 0.95. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.22 and a quick ratio of 1.53. STERIS plc has a one year low of $200.98 and a one year high of $253.00. The company's fifty day simple moving average is $237.41 and its 200-day simple moving average is $233.25.

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

STERIS Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 26th. Investors of record on Thursday, September 4th will be given a $0.63 dividend. The ex-dividend date is Thursday, September 4th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.0%. This is a positive change from STERIS's previous quarterly dividend of $0.57. STERIS's dividend payout ratio is 38.59%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. Morgan Stanley upped their target price on shares of STERIS from $276.00 to $295.00 and gave the stock an "overweight" rating in a report on Friday, August 8th. KeyCorp increased their price objective on shares of STERIS from $277.00 to $288.00 and gave the stock an "overweight" rating in a report on Tuesday, July 22nd. Jefferies Financial Group initiated coverage on shares of STERIS in a report on Thursday, May 29th. They set a "hold" rating and a $263.00 price objective on the stock. Finally, Wall Street Zen raised shares of STERIS from a "buy" rating to a "strong-buy" rating in a report on Sunday. 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 stock has a consensus rating of "Moderate Buy" and a consensus target price of $273.50.

Insider Activity

In related news, Director Cynthia L. Feldmann sold 3,495 shares of the stock in a transaction that occurred 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 sale, the director directly owned 705 shares in the company, valued at $170,299.80. This trade represents a 83.21% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Mohsen Sohi sold 4,110 shares of the stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $241.96, for a total transaction of $994,455.60. Following the completion of the sale, the director owned 22,361 shares in the company, valued at $5,410,467.56. This represents a 15.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 18,709 shares of company stock valued at $4,546,940. 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.