Vaughan Nelson Investment Management L.P. Raises Stake in STERIS plc (NYSE:STE)

Vaughan Nelson Investment Management L.P. boosted its holdings in shares of STERIS plc (NYSE:STE - Free Report) by 118.3% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 7,325 shares of the medical equipment provider's stock after purchasing an additional 3,970 shares during the period. Vaughan Nelson Investment Management L.P.'s holdings in STERIS were worth $1,660,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Wealth Enhancement Advisory Services LLC grew its position in STERIS by 11.0% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 8,078 shares of the medical equipment provider's stock worth $1,831,000 after purchasing an additional 801 shares during the last quarter. Tritonpoint Wealth LLC boosted its holdings in shares of STERIS by 6.3% in the first quarter. Tritonpoint Wealth LLC now owns 1,966 shares of the medical equipment provider's stock valued at $446,000 after acquiring an additional 117 shares in the last quarter. Ipswich Investment Management Co. Inc. purchased a new stake in shares of STERIS in the first quarter valued at about $412,000. Net Worth Advisory Group boosted its holdings in shares of STERIS by 16.8% in the first quarter. Net Worth Advisory Group now owns 1,588 shares of the medical equipment provider's stock valued at $360,000 after acquiring an additional 228 shares in the last quarter. Finally, apricus wealth LLC boosted its holdings in shares of STERIS by 64.1% in the first quarter. apricus wealth LLC now owns 1,638 shares of the medical equipment provider's stock valued at $371,000 after acquiring an additional 640 shares in the last quarter. 94.69% of the stock is owned by hedge funds and other institutional investors.

STERIS Stock Performance

Shares of STE opened at $241.16 on Monday. The company has a 50-day moving average of $232.76 and a two-hundred day moving average of $222.76. The company has a current ratio of 2.13, a quick ratio of 1.40 and a debt-to-equity ratio of 0.32. The stock has a market cap of $23.72 billion, a P/E ratio of 51.20 and a beta of 0.94. 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 posted its quarterly earnings data on Wednesday, May 14th. The medical equipment provider reported $2.74 earnings per share for the quarter, beating analysts' consensus estimates of $2.59 by $0.15. The business had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.47 billion. STERIS had a net margin of 8.66% and a return on equity of 13.91%. The company's revenue was up 5.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.58 earnings per share. As a group, research analysts predict that STERIS plc will post 9.08 EPS for the current fiscal year.

STERIS Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 26th. Stockholders of record on Tuesday, June 10th will be given a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a dividend yield of 0.95%. The ex-dividend date of this dividend is Tuesday, June 10th. STERIS's dividend payout ratio is presently 36.77%.

Insider Activity

In related news, SVP Cary L. Majors sold 12,828 shares of the company's stock in a transaction that occurred on 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 completion of the transaction, the senior vice president now owns 11,372 shares of the company's stock, valued at approximately $2,843,909.76. This represents a 53.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Daniel A. Carestio sold 17,626 shares of the company's stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $242.56, for a total transaction of $4,275,362.56. Following the transaction, the chief executive officer now directly owns 51,385 shares of the company's stock, valued at $12,463,945.60. This trade represents a 25.54% decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.14% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Stephens reaffirmed an "overweight" rating and issued a $250.00 target price on shares of STERIS in a report on Thursday, May 15th. Jefferies Financial Group assumed coverage on shares of STERIS in a report on Thursday, May 29th. They issued a "hold" rating and a $263.00 target price on the stock. Needham & Company LLC reaffirmed a "hold" rating on shares of STERIS in a report on Monday, April 7th. JMP Securities lifted their target price on shares of STERIS from $265.00 to $280.00 and gave the company a "market outperform" rating in a report on Friday, May 16th. Finally, Morgan Stanley boosted their price objective on shares of STERIS from $240.00 to $260.00 and gave the stock an "equal weight" rating in a report on Monday, May 19th. Three equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, STERIS presently has an average rating of "Moderate Buy" and a consensus target price of $263.83.

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.

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