Fenimore Asset Management Inc Purchases 47,995 Shares of STERIS plc (NYSE:STE)

Fenimore Asset Management Inc raised its stake in shares of STERIS plc (NYSE:STE - Free Report) by 18.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 302,505 shares of the medical equipment provider's stock after acquiring an additional 47,995 shares during the period. STERIS makes up 1.5% of Fenimore Asset Management Inc's holdings, making the stock its 26th biggest holding. Fenimore Asset Management Inc owned approximately 0.31% of STERIS worth $68,563,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also made changes to their positions in STE. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of STERIS by 30.8% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 10,970 shares of the medical equipment provider's stock valued at $2,275,000 after purchasing an additional 2,583 shares in the last quarter. Entropy Technologies LP acquired a new stake in STERIS during the 4th quarter worth $924,000. Empowered Funds LLC raised its position in STERIS by 3.3% during the 4th quarter. Empowered Funds LLC now owns 1,984 shares of the medical equipment provider's stock worth $408,000 after buying an additional 63 shares during the last quarter. Principal Financial Group Inc. increased its holdings in shares of STERIS by 0.5% in the 4th quarter. Principal Financial Group Inc. now owns 1,119,643 shares of the medical equipment provider's stock valued at $230,160,000 after purchasing an additional 5,419 shares in the last quarter. Finally, Van ECK Associates Corp increased its holdings in shares of STERIS by 130.2% in the 4th quarter. Van ECK Associates Corp now owns 28,816 shares of the medical equipment provider's stock valued at $5,923,000 after purchasing an additional 16,300 shares in the last quarter. 94.69% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. JMP Securities raised their price target on shares of STERIS from $265.00 to $280.00 and gave the stock a "market outperform" rating in a research note on Friday, May 16th. Jefferies Financial Group started coverage on shares of STERIS in a research note on Thursday, May 29th. They set a "hold" rating and a $263.00 price objective on the stock. Wall Street Zen lowered shares of STERIS from a "strong-buy" rating to a "buy" rating in a research note on Friday, May 30th. Morgan Stanley lifted their price objective on shares of STERIS from $240.00 to $260.00 and gave the company an "equal weight" rating in a research note on Monday, May 19th. Finally, Needham & Company LLC reiterated a "hold" rating on shares of STERIS in a research note on Monday, April 7th. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $263.83.

STERIS Stock Performance

STERIS stock traded down $1.67 during mid-day trading on Wednesday, reaching $240.70. The company's stock had a trading volume of 471,829 shares, compared to its average volume of 549,878. The firm has a market cap of $23.68 billion, a price-to-earnings ratio of 51.10 and a beta of 0.94. The business has a 50 day moving average price of $231.51 and a 200-day moving average price of $222.33. The company has a current ratio of 2.13, a quick ratio of 1.40 and a debt-to-equity ratio of 0.32. 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 announced its quarterly earnings results on Wednesday, May 14th. The medical equipment provider reported $2.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.59 by $0.15. The company had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.47 billion. STERIS had a net margin of 8.66% and a return on equity of 13.91%. The company's revenue for the quarter was up 5.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.58 earnings per share. Sell-side analysts predict that STERIS plc will post 9.08 EPS for the current fiscal year.

STERIS Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 26th. Investors of record on Tuesday, June 10th will be paid a $0.57 dividend. The ex-dividend date is Tuesday, June 10th. This represents a $2.28 annualized dividend and a dividend yield of 0.95%. STERIS's payout ratio is 36.77%.

Insiders Place Their Bets

In other news, SVP Cary L. Majors sold 12,828 shares of the firm's stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $250.08, for a total transaction of $3,208,026.24. Following the completion of the transaction, the senior vice president now directly owns 11,372 shares of the company's stock, valued at approximately $2,843,909.76. This trade represents a 53.01% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Daniel A. Carestio sold 17,626 shares of the firm's stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $242.56, for a total transaction of $4,275,362.56. Following the completion of the sale, the chief executive officer now owns 51,385 shares of the company's stock, 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. Company insiders own 1.14% 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.