STERIS plc $STE Holdings Decreased by Thematics Asset Management

Key Points

• Thematics Asset Management decreased its stake in STERIS plc by 20.8%, now holding 150,134 shares valued at approximately $34.03 million, representing 1.7% of its investment portfolio.
• STERIS reported a quarterly earnings per share (EPS) of $2.34, surpassing analysts’ estimates of $2.32, with revenues increasing by 8.8% year-over-year.
• The company announced a dividend increase to $0.63 per share, up from $0.57, reflecting a dividend yield of 1.0% and a payout ratio of 34.92%.

Thematics Asset Management lowered its stake in shares of STERIS plc (NYSE:STE - Free Report) by 20.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 150,134 shares of the medical equipment provider's stock after selling 39,428 shares during the quarter. STERIS makes up about 1.7% of Thematics Asset Management's investment portfolio, making the stock its 13th largest holding. Thematics Asset Management owned approximately 0.15% of STERIS worth $34,028,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in STE. XTX Topco Ltd acquired a new stake in shares of STERIS during the fourth quarter worth approximately $261,000. Hsbc Holdings PLC boosted its holdings in STERIS by 93.4% in the fourth quarter. Hsbc Holdings PLC now owns 82,604 shares of the medical equipment provider's stock worth $16,946,000 after purchasing an additional 39,894 shares during the period. T. Rowe Price Investment Management Inc. acquired a new position in STERIS in the fourth quarter worth $291,000. Adage Capital Partners GP L.L.C. boosted its holdings in STERIS by 39.2% in the fourth quarter. Adage Capital Partners GP L.L.C. now owns 42,186 shares of the medical equipment provider's stock worth $8,672,000 after purchasing an additional 11,871 shares during the period. Finally, Kovitz Investment Group Partners LLC acquired a new position in STERIS in the fourth quarter worth $273,000. Institutional investors and hedge funds own 94.69% of the company's stock.

Insiders Place Their Bets

In related news, CEO Daniel A. Carestio sold 17,626 shares of the stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $242.56, for a total value of $4,275,362.56. Following the completion of the transaction, the chief executive officer directly owned 51,385 shares of the company's stock, valued at $12,463,945.60. This represents a 25.54% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Cynthia L. Feldmann sold 3,495 shares of STERIS 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 sale, the director owned 705 shares in the company, valued at approximately $170,299.80. This represents a 83.21% 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 owned by company insiders.

STERIS Stock Performance

STE stock traded up $0.66 during mid-day trading on Wednesday, reaching $249.24. The company had a trading volume of 629,086 shares, compared to its average volume of 542,358. The company has a quick ratio of 1.53, a current ratio of 2.22 and a debt-to-equity ratio of 0.27. The stock has a market capitalization of $24.55 billion, a P/E ratio of 38.17 and a beta of 0.92. STERIS plc has a one year low of $200.98 and a one year high of $252.79. The stock's 50-day simple moving average is $235.61 and its two-hundred day simple moving average is $231.05.

STERIS (NYSE:STE - Get Free Report) last posted its earnings results on Wednesday, August 6th. The medical equipment provider reported $2.34 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.32 by $0.02. The company 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 firm's quarterly revenue was up 8.8% compared to the same quarter last year. During the same period last year, the business posted $2.03 earnings per share. Research analysts anticipate that STERIS plc will post 9.08 EPS for the current year.

STERIS Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 26th. Investors of record on Thursday, September 4th will be issued a $0.63 dividend. This is a positive change 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 yield of 1.0%. STERIS's dividend payout ratio is currently 34.92%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on STE shares. Citigroup reaffirmed an "outperform" rating on shares of STERIS in a report on Friday, May 16th. KeyCorp lifted their price objective on shares of STERIS from $277.00 to $288.00 and gave the stock an "overweight" rating in a report on Tuesday, July 22nd. Stephens reaffirmed an "overweight" rating and issued a $250.00 price objective on shares of STERIS in a report on Thursday, May 15th. Wall Street Zen raised shares of STERIS from a "buy" rating to a "strong-buy" rating in a report on Saturday, August 9th. Finally, JMP Securities lifted their price objective on shares of STERIS from $265.00 to $280.00 and gave the stock a "market outperform" rating in a report on Friday, May 16th. Six investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $273.50.

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.