Generation Investment Management LLP Has $760.31 Million Position in STERIS plc $STE

Key Points

• Generation Investment Management LLP increased its stake in STERIS plc by 5.4%, making it the firm's 6th largest position, amounting to approximately 4.6% of their total portfolio.
• STERIS recently declared a quarterly dividend of $0.63, reflecting an increase from the previous $0.57, with a current annualized yield of 1.0%.
• Wall Street analysts have given STERIS a consensus rating of "Moderate Buy", with a price target averaging $273.50 following multiple research upgrades.

Generation Investment Management LLP boosted its position in STERIS plc (NYSE:STE - Free Report) by 5.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,354,545 shares of the medical equipment provider's stock after acquiring an additional 170,392 shares during the quarter. STERIS accounts for 4.6% of Generation Investment Management LLP's holdings, making the stock its 6th largest holding. Generation Investment Management LLP owned 3.41% of STERIS worth $760,308,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Park Edge Advisors LLC raised its holdings in shares of STERIS by 1.0% during the 1st 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 in the last quarter. Blue Trust Inc. raised its stake in STERIS by 16.5% during the first quarter. Blue Trust Inc. now owns 395 shares of the medical equipment provider's stock worth $90,000 after acquiring an additional 56 shares in the last quarter. Taylor Frigon Capital Management LLC lifted its holdings 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 acquiring an additional 62 shares during the last quarter. West Coast Financial LLC lifted its holdings 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 acquiring an additional 63 shares during the last quarter. Finally, Cetera Investment Advisers boosted its stake in shares of STERIS by 0.9% in the 1st quarter. Cetera Investment Advisers now owns 6,999 shares of the medical equipment provider's stock valued at $1,586,000 after purchasing an additional 63 shares in the last quarter. 94.69% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Director Cynthia L. Feldmann sold 3,495 shares of the firm's stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $241.56, for a total transaction of $844,252.20. Following the transaction, the director directly owned 705 shares of the company's stock, valued at $170,299.80. This trade represents a 83.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Karen L. Burton sold 7,900 shares of the business's stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $241.73, for a total transaction of $1,909,667.00. Following the transaction, the chief accounting officer owned 5,994 shares in the company, valued at approximately $1,448,929.62. This trade represents a 56.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 18,709 shares of company stock valued at $4,546,940. Company insiders own 1.07% of the company's stock.

Analyst Upgrades and Downgrades

STE has been the topic of several recent research reports. Jefferies Financial Group initiated coverage on STERIS in a report on Thursday, May 29th. They set a "hold" rating and a $263.00 price objective on the stock. Morgan Stanley lifted their price target on STERIS from $276.00 to $295.00 and gave the company an "overweight" rating in a research note on Friday, August 8th. Wall Street Zen downgraded STERIS from a "strong-buy" rating to a "buy" rating in a research note on Saturday. Stephens reiterated an "overweight" rating and set a $250.00 target price on shares of STERIS in a research report on Thursday, May 15th. Finally, KeyCorp upped their price target 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. Six equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $273.50.

STERIS Trading Up 0.7%

STE stock traded up $1.65 during midday trading on Friday, hitting $245.04. The stock had a trading volume of 331,177 shares, compared to its average volume of 445,220. The company has a current ratio of 2.22, a quick ratio of 1.53 and a debt-to-equity ratio of 0.27. The business has a fifty day moving average price of $236.45 and a two-hundred day moving average price of $232.24. STERIS plc has a 1-year low of $200.98 and a 1-year high of $252.79. The firm has a market cap of $24.13 billion, a P/E ratio of 37.53 and a beta of 0.95.

STERIS (NYSE:STE - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The medical equipment provider reported $2.34 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.32 by $0.02. The firm had revenue of $1.40 billion for the quarter, compared to analysts' expectations of $1.36 billion. STERIS had a return on equity of 14.17% and a net margin of 11.61%.The company's revenue for the quarter was up 8.8% compared to the same quarter last year. During the same period in the prior year, the business earned $2.03 EPS. On average, 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 declared a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Thursday, September 4th will be paid a dividend of $0.63 per share. This is an increase from STERIS's previous quarterly dividend of $0.57. The ex-dividend date is Thursday, September 4th. This represents a $2.52 dividend on an annualized basis and a yield of 1.0%. STERIS's dividend payout ratio (DPR) is presently 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.