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JPMorgan Chase & Co. Increases Stock Holdings in STERIS plc (NYSE:STE)

STERIS logo with Medical background

Key Points

  • JPMorgan Chase & Co. increased its holdings in STERIS plc by 6.0%, now owning over 1 million shares valued at approximately $236 million.
  • Insider transactions included significant sales by CAO Karen L. Burton and Director Cynthia L. Feldmann, leading to a combined decrease of their holdings by over 80%.
  • STERIS recently announced a quarterly dividend increase, now set at $0.63 per share, representing a 1.0% dividend yield.
  • Want stock alerts on STERIS? Get 5 Weeks of MarketBeat All Access for $5. Get My Stock Alerts.

JPMorgan Chase & Co. grew its holdings in shares of STERIS plc (NYSE:STE - Free Report) by 6.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,042,427 shares of the medical equipment provider's stock after purchasing an additional 58,729 shares during the period. JPMorgan Chase & Co. owned about 1.06% of STERIS worth $236,266,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Grove Bank & Trust increased its stake in shares of STERIS by 4,733.3% during the first quarter. Grove Bank & Trust now owns 145 shares of the medical equipment provider's stock worth $33,000 after buying an additional 142 shares during the period. Zions Bancorporation National Association UT purchased a new position in STERIS in the first quarter valued at approximately $37,000. ORG Wealth Partners LLC purchased a new position in STERIS in the first quarter valued at approximately $43,000. Golden State Wealth Management LLC increased its stake in STERIS by 503.0% in the first quarter. Golden State Wealth Management LLC now owns 199 shares of the medical equipment provider's stock valued at $45,000 after purchasing an additional 166 shares during the last quarter. Finally, Costello Asset Management INC purchased a new position in STERIS in the first quarter valued at approximately $45,000. 94.69% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have commented on STE shares. KeyCorp increased their price target on shares of STERIS from $277.00 to $288.00 and gave the company an "overweight" rating in a research note on Tuesday, July 22nd. JMP Securities increased their price target on shares of STERIS from $265.00 to $280.00 and gave the company a "market outperform" rating in a research note on Friday, May 16th. Citigroup reiterated an "outperform" rating on shares of STERIS in a research note on Friday, May 16th. Morgan Stanley increased their price target on shares of STERIS from $276.00 to $295.00 and gave the company an "overweight" rating in a research note on Friday, August 8th. Finally, Jefferies Financial Group initiated coverage on shares of STERIS in a research note on Thursday, May 29th. They issued a "hold" rating and a $263.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $273.50.

View Our Latest Analysis on STE

STERIS Stock Performance

Shares of STE stock traded down $0.63 during trading hours on Friday, hitting $245.51. The stock had a trading volume of 466,774 shares, compared to its average volume of 661,603. The firm has a market capitalization of $24.18 billion, a PE ratio of 37.60 and a beta of 0.92. STERIS plc has a twelve month low of $200.98 and a twelve month high of $252.79. The stock's 50 day moving average is $234.34 and its 200 day moving average is $229.55. 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 (NYSE:STE - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The medical equipment provider reported $2.34 earnings per share for the quarter, topping the consensus estimate of $2.32 by $0.02. STERIS had a return on equity of 14.17% and a net margin of 11.61%. The firm had revenue of $1.40 billion during the quarter, compared to the consensus estimate of $1.36 billion. During the same period last year, the company earned $2.03 earnings per share. The company's revenue for the quarter was up 8.8% on a year-over-year basis. As a group, research analysts forecast that STERIS plc will post 9.08 earnings per share for the current fiscal year.

STERIS Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 26th. Investors of record on Thursday, September 4th will be issued a dividend of $0.63 per share. This is a boost from STERIS's previous quarterly dividend of $0.57. This represents a $2.52 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend is Thursday, September 4th. STERIS's dividend payout ratio is 34.92%.

Insider Activity

In other STERIS news, Director Cynthia L. Feldmann sold 3,495 shares of the stock in a transaction on Monday, August 11th. The stock was 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Cary L. Majors sold 12,828 shares of the stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $250.08, for a total value of $3,208,026.24. Following the completion of the transaction, the senior vice president owned 11,372 shares of the company's stock, valued at $2,843,909.76. The trade was a 53.01% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 45,959 shares of company stock valued at $11,231,764. 1.07% of the stock is currently owned by company insiders.

About STERIS

(Free Report)

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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Institutional Ownership by Quarter for STERIS (NYSE:STE)

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