APG Asset Management N.V. Sells 46,498 Shares of STERIS plc $STE

Key Points

• APG Asset Management N.V. reduced its stake in STERIS plc by 2.9%, now owning approximately 1.0% of the company, while other investors, like Grove Bank & Trust, significantly increased their positions.
• Analysts have boosted their target prices for STERIS, with Morgan Stanley raising it to $295.00 and a consensus rating of "Moderate Buy" reflecting positive sentiment on the stock.
• STERIS recently declared a quarterly dividend of $0.63 per share, marking an increase from the previous dividend of $0.57, with a yield of 1.0%.

APG Asset Management N.V. lowered its position in shares of STERIS plc (NYSE:STE - Free Report) by 2.9% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,571,006 shares of the medical equipment provider's stock after selling 46,498 shares during the quarter. STERIS accounts for approximately 1.0% of APG Asset Management N.V.'s investment portfolio, making the stock its 20th largest position. APG Asset Management N.V. owned approximately 1.60% of STERIS worth $329,632,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the company. Vanguard Group Inc. boosted its stake in STERIS by 0.4% during the first quarter. Vanguard Group Inc. now owns 11,957,852 shares of the medical equipment provider's stock valued at $2,710,247,000 after buying an additional 46,628 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its position in shares of STERIS by 9.1% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 5,439,349 shares of the medical equipment provider's stock valued at $1,232,828,000 after purchasing an additional 452,146 shares during the period. Select Equity Group L.P. boosted its position in shares of STERIS by 165.3% in the 4th quarter. Select Equity Group L.P. now owns 2,599,730 shares of the medical equipment provider's stock valued at $534,400,000 after purchasing an additional 1,619,796 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of STERIS by 2.6% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,295,275 shares of the medical equipment provider's stock valued at $293,574,000 after purchasing an additional 33,348 shares during the period. Finally, Northern Trust Corp boosted its position in shares of STERIS by 5.8% in the 1st quarter. Northern Trust Corp now owns 1,283,560 shares of the medical equipment provider's stock valued at $290,919,000 after purchasing an additional 70,523 shares during the period. Institutional investors own 94.69% of the company's stock.

Insider Activity at STERIS

In other news, CEO Daniel A. Carestio sold 17,626 shares of the firm's stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $242.56, for a total transaction of $4,275,362.56. Following the completion of the sale, the chief executive officer directly owned 51,385 shares of the company's stock, valued at $12,463,945.60. This trade represents a 25.54% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Mohsen Sohi sold 4,110 shares of the firm's stock in a transaction dated 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 directly owned 22,361 shares of the company's stock, valued at $5,410,467.56. This trade represents a 15.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 36,335 shares of company stock worth $8,822,302. 1.07% of the stock is currently owned by corporate insiders.

STERIS Stock Down 1.3%

STERIS stock traded down $3.31 during mid-day trading on Monday, hitting $248.56. The company's stock had a trading volume of 320,860 shares, compared to its average volume of 542,306. The firm's 50 day moving average is $235.12 and its 200 day moving average is $230.79. The company has a market cap of $24.48 billion, a PE ratio of 38.06 and a beta of 0.92. 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 plc has a 52-week low of $200.98 and a 52-week high of $252.79.

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 for the quarter, topping analysts' consensus estimates of $2.32 by $0.02. STERIS had a return on equity of 14.17% and a net margin of 11.61%.The company 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 business earned $2.03 EPS. The business's quarterly revenue was up 8.8% on a year-over-year basis. On average, analysts anticipate that STERIS plc will post 9.08 earnings per share for the current year.

STERIS Increases Dividend

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

Analyst Ratings Changes

A number of equities analysts recently weighed in on STE shares. Morgan Stanley increased their price target on STERIS from $276.00 to $295.00 and gave the company an "overweight" rating in a research report on Friday, August 8th. Wall Street Zen upgraded STERIS from a "buy" rating to a "strong-buy" rating in a research report on Saturday, August 9th. Jefferies Financial Group started coverage on STERIS in a research report on Thursday, May 29th. They issued a "hold" rating and a $263.00 price target for the company. Stephens reiterated an "overweight" rating and issued a $250.00 price target on shares of STERIS in a research report on Thursday, May 15th. Finally, Citigroup reiterated an "outperform" rating on shares of STERIS in a research report on Friday, May 16th. Six equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, STERIS has a consensus 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.