STERIS plc $STE Shares Bought by UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC

Key Points

• UBS Asset Management increased its stake in STERIS plc by 55.2%, owning 1,520,479 shares valued at approximately $344.6 million as of its latest SEC filing.
• Several hedge funds are also boosting their positions in STERIS, contributing to institutional ownership that now stands at 94.69% of the company's stock.
• STERIS announced an increase in its quarterly dividend from $0.57 to $0.63 per share, indicating a significant commitment to returning value to shareholders.

UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of STERIS plc (NYSE:STE - Free Report) by 55.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,520,479 shares of the medical equipment provider's stock after buying an additional 540,999 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC owned about 1.55% of STERIS worth $344,617,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Park Edge Advisors LLC raised its stake in shares of STERIS by 1.0% in the first quarter. Park Edge Advisors LLC now owns 4,709 shares of the medical equipment provider's stock valued at $1,067,000 after acquiring an additional 47 shares in the last quarter. Ashton Thomas Private Wealth LLC raised its position in STERIS by 3.5% in the 1st quarter. Ashton Thomas Private Wealth LLC now owns 1,611 shares of the medical equipment provider's stock valued at $365,000 after purchasing an additional 54 shares in the last quarter. Blue Trust Inc. boosted its stake in shares of STERIS by 16.5% in the 1st quarter. Blue Trust Inc. now owns 395 shares of the medical equipment provider's stock valued at $90,000 after buying an additional 56 shares during the period. Taylor Frigon Capital Management LLC grew its position in shares of STERIS by 1.0% during the first quarter. Taylor Frigon Capital Management LLC now owns 6,280 shares of the medical equipment provider's stock worth $1,423,000 after buying an additional 62 shares in the last quarter. Finally, West Coast Financial LLC increased its stake in shares of STERIS by 3.9% during the first quarter. West Coast Financial LLC now owns 1,658 shares of the medical equipment provider's stock worth $376,000 after buying an additional 63 shares during the period. Institutional investors and hedge funds own 94.69% of the company's stock.

Insider Buying and Selling

In other STERIS news, Director Mohsen Sohi sold 4,110 shares of the business's stock in a transaction on Monday, August 11th. The shares were sold at an average price of $241.96, for a total value of $994,455.60. Following the transaction, the director directly owned 22,361 shares of the company's stock, valued at approximately $5,410,467.56. The trade was a 15.53% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Renato Tamaro sold 3,204 shares of the company's stock in a transaction 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 transaction, the vice president owned 7,221 shares of the company's stock, valued at approximately $1,799,762.04. The trade was a 30.73% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 18,709 shares of company stock worth $4,546,940. Corporate insiders own 1.07% of the company's stock.

STERIS Stock Performance

NYSE:STE traded up $0.83 during mid-day trading on Tuesday, reaching $248.64. 94,853 shares of the stock were exchanged, compared to its average volume of 589,373. The company has a quick ratio of 1.53, a current ratio of 2.22 and a debt-to-equity ratio of 0.27. STERIS plc has a 1 year low of $200.98 and a 1 year high of $253.00. The company has a 50 day simple moving average of $237.70 and a 200-day simple moving average of $233.45. The stock has a market capitalization of $24.49 billion, a P/E ratio of 38.09 and a beta of 0.95.

STERIS (NYSE:STE - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The medical equipment provider reported $2.34 earnings per share for the quarter, beating the consensus estimate of $2.32 by $0.02. The business had revenue of $1.40 billion during the quarter, compared to the consensus estimate of $1.36 billion. STERIS had a return on equity of 14.17% and a net margin of 11.61%.The company's revenue was up 8.8% compared to the same quarter last year. During the same period in the prior year, the company earned $2.03 earnings per share. Analysts anticipate that STERIS plc will post 9.08 earnings per share for the current fiscal year.

STERIS Increases Dividend

The firm also recently announced 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 represents a $2.52 annualized dividend and a dividend yield of 1.0%. This is a positive change from STERIS's previous quarterly dividend of $0.57. The ex-dividend date is Thursday, September 4th. STERIS's payout ratio is currently 38.59%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on STE. KeyCorp lifted their price target on shares of STERIS from $277.00 to $288.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 22nd. Jefferies Financial Group started coverage on STERIS in a report on Thursday, May 29th. They issued a "hold" rating and a $263.00 target price on the stock. Wall Street Zen raised STERIS from a "buy" rating to a "strong-buy" rating in a report on Sunday. Finally, Morgan Stanley increased their price objective on STERIS from $276.00 to $295.00 and gave the company an "overweight" rating in a report on Friday, August 8th. Six analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat, STERIS presently 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.