Townsquare Capital LLC Purchases 1,330 Shares of STERIS plc (NYSE:STE)

Key Points

• Townsquare Capital LLC increased its stake in STERIS plc by 6.7%, owning 21,036 shares valued at $4.77 million after acquiring an additional 1,330 shares in Q1.
• Insiders sold significant blocks of stock, with SVP Cary L. Majors and CEO Daniel A. Carestio reducing their holdings by 53.01% and 25.54%, respectively.
• Market analysts have set new price targets for STERIS, with upgrades leading to an average target of $270.33 and a rating of "Moderate Buy".

Townsquare Capital LLC increased its position in STERIS plc (NYSE:STE - Free Report) by 6.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 21,036 shares of the medical equipment provider's stock after buying an additional 1,330 shares during the quarter. Townsquare Capital LLC's holdings in STERIS were worth $4,768,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in STE. Vanguard Group Inc. boosted its holdings in shares of STERIS by 0.4% during the 1st 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 holdings in shares of STERIS by 9.1% during 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 buying an additional 452,146 shares in the last quarter. Select Equity Group L.P. boosted its holdings in shares of STERIS by 165.3% during 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 buying an additional 1,619,796 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in shares of STERIS by 2.6% during 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 buying an additional 33,348 shares in the last quarter. Finally, Northern Trust Corp boosted its holdings in shares of STERIS by 7.4% during the 4th quarter. Northern Trust Corp now owns 1,213,037 shares of the medical equipment provider's stock valued at $249,352,000 after buying an additional 83,601 shares in the last quarter. Institutional investors own 94.69% of the company's stock.

Insider Buying and Selling at STERIS

In other STERIS news, SVP Cary L. Majors sold 12,828 shares of the company's stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $250.08, for a total transaction of $3,208,026.24. Following the transaction, the senior vice president owned 11,372 shares in the company, valued at approximately $2,843,909.76. This represents a 53.01% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Mohsen Sohi sold 4,110 shares of the company's stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $241.96, for a total transaction of $994,455.60. Following the transaction, the director owned 22,361 shares in the company, valued at $5,410,467.56. This represents a 15.53% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 45,959 shares of company stock worth $11,231,764. 1.07% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on STE shares. KeyCorp boosted their target price on shares of STERIS from $277.00 to $288.00 and gave the company an "overweight" rating in a report on Tuesday, July 22nd. Morgan Stanley boosted their target price on shares of STERIS from $276.00 to $295.00 and gave the company an "overweight" rating in a report on Friday, August 8th. Wall Street Zen upgraded shares of STERIS from a "buy" rating to a "strong-buy" rating in a report on Saturday. Jefferies Financial Group started coverage on shares of STERIS in a research note on Thursday, May 29th. They issued a "hold" rating and a $263.00 price target on the stock. Finally, Stephens reiterated an "overweight" rating and issued a $250.00 price target on shares of STERIS in a research note on Thursday, May 15th. Two research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $273.50.

STERIS Stock Up 1.5%

STERIS stock traded up $3.68 during mid-day trading on Wednesday, reaching $247.44. The stock had a trading volume of 455,177 shares, compared to its average volume of 604,219. The company has a market capitalization of $24.37 billion, a price-to-earnings ratio of 37.89 and a beta of 0.92. The company has a 50-day moving average price of $234.13 and a two-hundred day moving average price of $229.09. STERIS plc has a one year low of $200.98 and a one year high of $252.79. 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 (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 the consensus estimate of $2.32 by $0.02. The business had revenue of $1.40 billion for 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 business's revenue for the quarter was up 8.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.03 EPS. On average, analysts expect that STERIS plc will post 9.08 EPS for the current fiscal year.

STERIS Increases Dividend

The business also recently announced 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. The ex-dividend date is Thursday, September 4th. This represents a $2.52 annualized dividend and a yield of 1.0%. This is an increase from STERIS's previous quarterly dividend of $0.57. STERIS's dividend payout ratio (DPR) is currently 34.92%.

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.