United Services Automobile Association Makes New Investment in STERIS plc $STE

Key Points

• United Services Automobile Association has made a new investment of approximately $532,000 in STERIS plc, buying 2,386 shares during the first quarter.
• STERIS recently announced an increase in its quarterly dividend from $0.57 to $0.63 per share, representing an annualized dividend of $2.52.
• The company's stock is currently down 1.8%, with a market capitalization of $24.03 billion and a PE ratio of 37.37.

United Services Automobile Association purchased a new position in shares of STERIS plc (NYSE:STE - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 2,386 shares of the medical equipment provider's stock, valued at approximately $532,000.

A number of other institutional investors have also added to or reduced their stakes in the company. Grove Bank & Trust lifted its position in shares of STERIS by 4,733.3% during the 1st quarter. Grove Bank & Trust now owns 145 shares of the medical equipment provider's stock worth $33,000 after buying an additional 142 shares in the last quarter. Zions Bancorporation National Association UT bought a new position in shares of STERIS during the 1st quarter worth approximately $37,000. ORG Wealth Partners LLC bought a new position in shares of STERIS during the 1st quarter worth approximately $43,000. Golden State Wealth Management LLC lifted its position in shares of STERIS by 503.0% during the 1st quarter. Golden State Wealth Management LLC now owns 199 shares of the medical equipment provider's stock worth $45,000 after buying an additional 166 shares in the last quarter. Finally, Costello Asset Management INC bought a new position in shares of STERIS during the 1st quarter worth approximately $45,000. 94.69% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

STE has been the topic of several recent analyst reports. Jefferies Financial Group initiated coverage on shares of STERIS in a research report on Thursday, May 29th. They set a "hold" rating and a $263.00 target price on the stock. Wall Street Zen raised shares of STERIS from a "buy" rating to a "strong-buy" rating in a research report on Sunday. KeyCorp lifted their price objective on shares of STERIS from $277.00 to $288.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 22nd. Finally, Morgan Stanley lifted their price objective on shares of STERIS from $276.00 to $295.00 and gave the stock an "overweight" rating in a research report on Friday, August 8th. Six investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat, STERIS has an average rating of "Moderate Buy" and a consensus price target of $273.50.

STERIS Price Performance

NYSE:STE traded up $0.84 during trading hours on Tuesday, hitting $248.65. The stock had a trading volume of 94,853 shares, compared to its average volume of 589,373. The company has a 50 day simple moving average of $237.70 and a two-hundred day simple moving average of $233.45. 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 one year low of $200.98 and a one year high of $253.00. The firm has a market capitalization of $24.49 billion, a price-to-earnings ratio of 38.09 and a beta of 0.95.

STERIS (NYSE:STE - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The medical equipment provider reported $2.34 EPS for the quarter, beating the consensus estimate of $2.32 by $0.02. STERIS had a net margin of 11.61% and a return on equity of 14.17%. The firm 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 firm earned $2.03 EPS. The business's quarterly revenue was up 8.8% compared to the same quarter last year. Research analysts forecast that STERIS plc will post 9.08 earnings per share for the current fiscal year.

STERIS Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 26th. Stockholders of record on Thursday, September 4th will be given a dividend of $0.63 per share. This is an increase from STERIS's previous quarterly dividend of $0.57. The ex-dividend date is Thursday, September 4th. This represents a $2.52 annualized dividend and a dividend yield of 1.0%. STERIS's dividend payout ratio is 38.59%.

Insider Buying and Selling at STERIS

In other STERIS news, CAO Karen L. Burton sold 7,900 shares of the firm's stock in a transaction on Monday, August 11th. The shares were sold at an average price of $241.73, for a total value of $1,909,667.00. Following the sale, the chief accounting officer owned 5,994 shares of the company's stock, valued at $1,448,929.62. This trade represents a 56.86% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Cynthia L. Feldmann sold 3,495 shares of the firm's stock in a transaction on Monday, August 11th. The stock was sold at an average price of $241.56, for a total transaction of $844,252.20. Following the completion of the sale, the director directly owned 705 shares in the company, valued at approximately $170,299.80. This trade represents a 83.21% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 18,709 shares of company stock worth $4,546,940 in the last 90 days. 1.07% of the stock is owned by company insiders.

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.