United Services Automobile Association Makes New $532,000 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 bought a new position in STERIS plc (NYSE:STE - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 2,386 shares of the medical equipment provider's stock, valued at approximately $532,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of STE. EP Wealth Advisors LLC increased its stake in STERIS by 20.1% in the fourth quarter. EP Wealth Advisors LLC now owns 1,011 shares of the medical equipment provider's stock worth $208,000 after purchasing an additional 169 shares during the period. Ethic Inc. increased its stake in STERIS by 5.1% in the fourth quarter. Ethic Inc. now owns 6,087 shares of the medical equipment provider's stock worth $1,251,000 after purchasing an additional 297 shares during the period. Focus Partners Wealth increased its stake in STERIS by 12.8% in the fourth quarter. Focus Partners Wealth now owns 8,422 shares of the medical equipment provider's stock worth $1,731,000 after purchasing an additional 957 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in STERIS by 1.9% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,659 shares of the medical equipment provider's stock worth $2,808,000 after purchasing an additional 257 shares during the period. Finally, OMERS ADMINISTRATION Corp increased its holdings in STERIS by 20.5% during the 4th quarter. OMERS ADMINISTRATION Corp now owns 4,131 shares of the medical equipment provider's stock worth $849,000 after purchasing an additional 702 shares during the period. Hedge funds and other institutional investors own 94.69% of the company's stock.

STERIS Stock Down 1.8%

Shares of NYSE STE opened at $244.01 on Thursday. The company has a current ratio of 2.22, a quick ratio of 1.53 and a debt-to-equity ratio of 0.27. The stock has a market capitalization of $24.03 billion, a PE ratio of 37.37 and a beta of 0.95. The stock's fifty day simple moving average is $236.86 and its two-hundred day simple moving average is $232.71. STERIS plc has a 12-month low of $200.98 and a 12-month high of $252.79.

STERIS (NYSE:STE - Get Free Report) last announced 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 return on equity of 14.17% and a net margin of 11.61%.The business's revenue for the quarter was up 8.8% on a year-over-year basis. During the same quarter last year, the firm earned $2.03 EPS. As a group, 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 given 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 annualized dividend and a yield of 1.0%. STERIS's payout ratio is 38.59%.

Analyst Ratings Changes

Several research firms have commented on STE. Jefferies Financial Group began coverage on STERIS in a report on Thursday, May 29th. They set a "hold" rating and a $263.00 price objective on the stock. Morgan Stanley raised their price objective on STERIS from $276.00 to $295.00 and gave the stock an "overweight" rating in a report on Friday, August 8th. Wall Street Zen downgraded STERIS from a "strong-buy" rating to a "buy" rating in a report on Saturday, September 6th. Citigroup restated an "outperform" rating on shares of STERIS in a report on Friday, May 16th. Finally, Stephens restated an "overweight" rating and set a $250.00 price objective on shares of STERIS in a report on Thursday, May 15th. Six analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $273.50.

Insiders Place Their Bets

In other news, VP Renato Tamaro sold 3,204 shares of the firm's stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $249.24, for a total value of $798,564.96. Following the completion of the sale, the vice president owned 7,221 shares of the company's stock, valued at $1,799,762.04. This trade represents a 30.73% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Karen L. Burton sold 7,900 shares of the firm's stock in a transaction on Monday, August 11th. The stock was sold at an average price of $241.73, for a total value of $1,909,667.00. Following the completion of the sale, the chief accounting officer directly owned 5,994 shares of the company's stock, valued at $1,448,929.62. The trade was a 56.86% decrease in their position. The disclosure for this sale can be found here. Insiders sold 18,709 shares of company stock worth $4,546,940 over the last quarter. Company insiders own 1.07% of the company's stock.

About STERIS

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.

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