STERIS plc $STE Position Boosted by Generali Asset Management SPA SGR

Key Points

• Generali Asset Management SPA SGR increased its holdings in STERIS plc by 19.5%, bringing its total shares owned to 14,269, valued at approximately $3.43 million.
• STERIS recently declared a quarterly dividend of $0.63 per share, up from the previous $0.57, representing an annualized dividend of $2.52.
• Research analysts have a favorable outlook on STERIS, with several firms raising their target price, including Morgan Stanley, which lifted it to $295, while maintaining an "overweight" rating.

Generali Asset Management SPA SGR grew its holdings in shares of STERIS plc (NYSE:STE - Free Report) by 19.5% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 14,269 shares of the medical equipment provider's stock after purchasing an additional 2,331 shares during the period. Generali Asset Management SPA SGR's holdings in STERIS were worth $3,428,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in STE. Geneos Wealth Management Inc. boosted its position in shares of STERIS by 416.0% during the 1st quarter. Geneos Wealth Management Inc. now owns 129 shares of the medical equipment provider's stock valued at $29,000 after purchasing an additional 104 shares in the last quarter. Grove Bank & Trust boosted its position in shares of STERIS by 4,733.3% during the 1st quarter. Grove Bank & Trust now owns 145 shares of the medical equipment provider's stock valued at $33,000 after purchasing an additional 142 shares in the last quarter. Zions Bancorporation National Association UT bought a new position in shares of STERIS during the 1st quarter valued at about $37,000. ORG Wealth Partners LLC bought a new position in shares of STERIS during the 1st quarter valued at about $43,000. Finally, Golden State Wealth Management LLC boosted its holdings in shares of STERIS by 503.0% in the first quarter. Golden State Wealth Management LLC now owns 199 shares of the medical equipment provider's stock worth $45,000 after buying an additional 166 shares during the period. Institutional investors own 94.69% of the company's stock.

STERIS Stock Performance

STE stock opened at $240.42 on Friday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.53 and a current ratio of 2.22. The stock has a market cap of $23.68 billion, a P/E ratio of 36.82 and a beta of 1.01. The firm has a 50 day simple moving average of $245.14 and a 200 day simple moving average of $236.17. STERIS plc has a 52 week low of $200.98 and a 52 week high of $253.00.

STERIS (NYSE:STE - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The medical equipment provider reported $2.34 EPS for the quarter, topping the consensus estimate of $2.32 by $0.02. The business had revenue of $1.40 billion during the quarter, compared to analysts' expectations of $1.36 billion. STERIS had a net margin of 11.61% and a return on equity of 14.17%. The firm's quarterly revenue was up 8.8% compared to the same quarter last year. During the same period last year, the company posted $2.03 earnings per share. Research analysts anticipate 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 was paid on Friday, September 26th. Investors of record on Thursday, September 4th were issued a dividend of $0.63 per share. This is an increase 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 was Thursday, September 4th. STERIS's dividend payout ratio is 38.59%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on STE. KeyCorp lifted their target price on shares of STERIS from $277.00 to $288.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 22nd. Weiss Ratings reissued a "buy (b)" rating on shares of STERIS in a research report on Tuesday. Wall Street Zen raised shares of STERIS from a "buy" rating to a "strong-buy" rating in a research report on Sunday, September 14th. Finally, Morgan Stanley lifted their target price on shares of STERIS from $276.00 to $295.00 and gave the stock an "overweight" rating in a research report on Friday, August 8th. Seven research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $273.50.

Insider Buying and Selling at STERIS

In related news, Director Cynthia L. Feldmann sold 3,495 shares of the firm's stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $241.56, for a total transaction of $844,252.20. Following the completion of the sale, the director directly owned 705 shares in the company, valued at approximately $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 SEC, which can be accessed through the SEC website. Also, VP Renato Tamaro sold 3,204 shares of the firm's stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $249.24, for a total transaction of $798,564.96. Following the sale, the vice president owned 7,221 shares of the company's stock, valued at approximately $1,799,762.04. This represents a 30.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 18,868 shares of company stock valued at $4,585,389 in the last 90 days. Corporate insiders own 1.07% of the company's stock.

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.

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