STERIS plc $STE Shares Acquired by KLP Kapitalforvaltning AS

Key Points

• KLP Kapitalforvaltning AS increased its stake in STERIS plc by 5.3% during the second quarter, owning 33,800 shares valued at approximately $8.12 million.
• In recent transactions, CEO Daniel A. Carestio and Director Mohsen Sohi sold shares of the company, leading to a 0.31% and 15.53% decrease in their ownership, respectively.
• STERIS declared a quarterly dividend of $0.63 per share, up from a previous dividend of $0.57, indicating increased confidence in its financial position.

KLP Kapitalforvaltning AS lifted its stake in shares of STERIS plc (NYSE:STE - Free Report) by 5.3% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 33,800 shares of the medical equipment provider's stock after buying an additional 1,700 shares during the quarter. KLP Kapitalforvaltning AS's holdings in STERIS were worth $8,119,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. grew its position in shares of STERIS by 0.4% during the first quarter. Vanguard Group Inc. now owns 11,957,852 shares of the medical equipment provider's stock worth $2,710,247,000 after buying an additional 46,628 shares in the last quarter. Massachusetts Financial Services Co. MA grew its position in shares of STERIS by 9.1% during the first quarter. Massachusetts Financial Services Co. MA now owns 5,439,349 shares of the medical equipment provider's stock worth $1,232,828,000 after buying an additional 452,146 shares in the last quarter. Generation Investment Management LLP grew its position in shares of STERIS by 5.4% during the first quarter. Generation Investment Management LLP now owns 3,354,545 shares of the medical equipment provider's stock worth $760,308,000 after buying an additional 170,392 shares in the last quarter. Orbis Allan Gray Ltd acquired a new position in shares of STERIS during the first quarter worth about $349,950,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of STERIS by 55.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,520,479 shares of the medical equipment provider's stock worth $344,617,000 after buying an additional 540,999 shares in the last quarter. 94.69% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at STERIS

In other news, CEO Daniel A. Carestio sold 159 shares of the company's stock in a transaction that occurred on Monday, October 6th. The stock was sold at an average price of $241.82, for a total transaction of $38,449.38. Following the completion of the sale, the chief executive officer owned 51,096 shares in the company, valued at $12,356,034.72. This represents a 0.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Mohsen Sohi sold 4,110 shares of the company's stock in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $241.96, for a total value of $994,455.60. Following the sale, the director owned 22,361 shares of the company's stock, valued at $5,410,467.56. This trade represents a 15.53% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 18,868 shares of company stock valued at $4,585,389. Corporate insiders own 1.07% of the company's stock.

STERIS Price Performance

Shares of NYSE STE opened at $239.47 on Friday. The company has a current ratio of 2.22, a quick ratio of 1.53 and a debt-to-equity ratio of 0.27. STERIS plc has a twelve month low of $200.98 and a twelve month high of $253.00. The stock has a 50 day moving average of $244.15 and a two-hundred day moving average of $235.70. The stock has a market cap of $23.59 billion, a P/E ratio of 36.67 and a beta of 1.01.

STERIS (NYSE:STE - Get Free Report) last released 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. 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 analysts' expectations of $1.36 billion. During the same quarter in the prior year, the business earned $2.03 earnings per share. The company's quarterly revenue was up 8.8% compared to the same quarter last year. On average, research analysts forecast that STERIS plc will post 9.08 earnings per share for the current year.

STERIS Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 26th. Stockholders of record on Thursday, September 4th were paid a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a dividend yield of 1.1%. This is a boost from STERIS's previous quarterly dividend of $0.57. The ex-dividend date was Thursday, September 4th. STERIS's dividend payout ratio (DPR) is currently 38.59%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Weiss Ratings restated a "buy (b-)" rating on shares of STERIS in a research note on Saturday, September 27th. KeyCorp boosted their target price on STERIS from $277.00 to $288.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 22nd. Morgan Stanley boosted their target price on STERIS from $276.00 to $295.00 and gave the stock an "overweight" rating in a research note on Friday, August 8th. Finally, Wall Street Zen upgraded STERIS from a "buy" rating to a "strong-buy" rating in a research note on Sunday, September 14th. Seven research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $273.50.

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.

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