STERIS plc (NYSE:STE) Stock Position Raised by Vanguard Group Inc.

Key Points

• Vanguard Group Inc. increased its stake in STERIS plc by 0.4%, holding approximately 11.96 million shares, valued at over $2.7 billion.
• Key analysts have upgraded STERIS with target price increases, with KeyCorp raising it from $277 to $288 and JMP Securities from $265 to $280.
• STERIS announced a quarterly dividend increase to $0.63 per share, reflecting an annual yield of 1.0%, with the ex-dividend date set for September 4th.

Vanguard Group Inc. lifted its stake in shares of STERIS plc (NYSE:STE - Free Report) by 0.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,957,852 shares of the medical equipment provider's stock after acquiring an additional 46,628 shares during the quarter. Vanguard Group Inc. owned 12.17% of STERIS worth $2,710,247,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of STE. Park Edge Advisors LLC boosted its position in shares of STERIS by 1.0% in the first quarter. Park Edge Advisors LLC now owns 4,709 shares of the medical equipment provider's stock worth $1,067,000 after buying an additional 47 shares during the period. Blue Trust Inc. boosted its position in shares of STERIS by 16.5% in the first quarter. Blue Trust Inc. now owns 395 shares of the medical equipment provider's stock worth $90,000 after buying an additional 56 shares during the period. Taylor Frigon Capital Management LLC boosted its position in shares of STERIS by 1.0% in the first quarter. Taylor Frigon Capital Management LLC now owns 6,280 shares of the medical equipment provider's stock worth $1,423,000 after buying an additional 62 shares during the period. Gallagher Fiduciary Advisors LLC boosted its position in shares of STERIS by 3.3% in the fourth quarter. Gallagher Fiduciary Advisors LLC now owns 1,970 shares of the medical equipment provider's stock worth $405,000 after buying an additional 63 shares during the period. Finally, West Coast Financial LLC boosted its position in shares of STERIS by 3.9% in the first quarter. West Coast Financial LLC now owns 1,658 shares of the medical equipment provider's stock worth $376,000 after buying an additional 63 shares during the period. 94.69% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. KeyCorp raised their target price on STERIS from $277.00 to $288.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 22nd. Citigroup reaffirmed an "outperform" rating on shares of STERIS in a research report on Friday, May 16th. JMP Securities raised their target price on STERIS from $265.00 to $280.00 and gave the stock a "market outperform" rating in a research report on Friday, May 16th. Morgan Stanley raised STERIS from an "equal weight" rating to an "overweight" rating and raised their target price for the stock from $260.00 to $276.00 in a research report on Tuesday, July 15th. Finally, Stephens reiterated an "overweight" rating and set a $250.00 price objective on shares of STERIS in a report on Thursday, May 15th. Two analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $270.33.

Insider Activity

In other STERIS news, SVP Cary L. Majors sold 12,828 shares of the firm's stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $250.08, for a total transaction of $3,208,026.24. Following the transaction, the senior vice president directly owned 11,372 shares in the company, valued at $2,843,909.76. This trade represents a 53.01% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at 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 value of $4,275,362.56. Following the transaction, the chief executive officer owned 51,385 shares in the company, valued at approximately $12,463,945.60. This trade represents a 25.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.07% of the stock is owned by company insiders.

STERIS Price Performance

Shares of NYSE:STE opened at $243.07 on Friday. The company has a current ratio of 2.22, a quick ratio of 1.39 and a debt-to-equity ratio of 0.27. STERIS plc has a 1 year low of $200.98 and a 1 year high of $252.79. The business has a fifty day simple moving average of $234.13 and a 200 day simple moving average of $228.66. The firm has a market cap of $23.91 billion, a price-to-earnings ratio of 37.22 and a beta of 0.92.

STERIS (NYSE:STE - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The medical equipment provider reported $2.34 earnings per share (EPS) 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 business had revenue of $1.40 billion during the quarter, compared to analyst estimates of $1.36 billion. During the same period last year, the company earned $2.03 earnings per share. STERIS's quarterly revenue was up 8.8% compared to the same quarter last year. As a group, sell-side analysts predict 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. Shareholders of record on Thursday, September 4th will be issued a dividend of $0.63 per share. 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. The ex-dividend date is Thursday, September 4th. STERIS's dividend payout ratio is 34.92%.

STERIS 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.

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