Vident Advisory LLC Raises Stake in STERIS plc $STE

Key Points

• Vident Advisory LLC increased its stake in STERIS plc by 45.5% by purchasing an additional 1,048 shares, bringing its total holdings to 3,350 shares valued at approximately $759,000.
• Research analysts have a consensus rating of "Moderate Buy" for STERIS shares, with an average target price of $273.50, reflecting a positive outlook for the stock.
• STERIS has announced an increase in its quarterly dividend from $0.57 to $0.63 per share, signifying a dividend yield of 1.0% and a healthy payout ratio of 34.92%.

Vident Advisory LLC boosted its holdings in STERIS plc (NYSE:STE - Free Report) by 45.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,350 shares of the medical equipment provider's stock after purchasing an additional 1,048 shares during the quarter. Vident Advisory LLC's holdings in STERIS were worth $759,000 at the end of the most recent quarter.

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

STERIS Trading Down 1.8%

STE stock traded down $4.38 during midday trading on Wednesday, hitting $244.01. 427,699 shares of the company's stock were exchanged, compared to its average volume of 446,958. 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 quick ratio of 1.53 and a current ratio of 2.22. The company has a market cap of $24.03 billion, a PE ratio of 37.37 and a beta of 0.95. The stock's fifty day moving average price is $236.86 and its 200-day moving average price is $232.71.

STERIS (NYSE:STE - Get Free Report) last released its 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. The firm 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 quarterly revenue was up 8.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.03 EPS. Research analysts predict that STERIS plc will post 9.08 earnings per share for the current fiscal year.

STERIS Increases Dividend

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

Analysts Set New Price Targets

A number of equities analysts have recently commented on STE shares. Wall Street Zen downgraded shares of STERIS from a "strong-buy" rating to a "buy" rating in a report on Saturday. JMP Securities increased their target price on STERIS from $265.00 to $280.00 and gave the stock a "market outperform" rating in a report on Friday, May 16th. Jefferies Financial Group assumed coverage on STERIS in a research note on Thursday, May 29th. They issued a "hold" rating and a $263.00 price target on the stock. Morgan Stanley upped their price target on STERIS from $276.00 to $295.00 and gave the company an "overweight" rating in a research report on Friday, August 8th. Finally, Stephens restated an "overweight" rating and issued a $250.00 target price on shares of STERIS in a research note on Thursday, May 15th. Six research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, STERIS has an average rating of "Moderate Buy" and a consensus price target of $273.50.

Insiders Place Their Bets

In related news, CAO Karen L. Burton sold 7,900 shares of the company's stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $241.73, for a total transaction of $1,909,667.00. Following the sale, the chief accounting officer owned 5,994 shares in the company, valued at $1,448,929.62. This represents a 56.86% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Mohsen Sohi sold 4,110 shares of STERIS stock in a transaction on Monday, August 11th. The shares were sold at an average price of $241.96, for a total transaction of $994,455.60. Following the completion of the sale, 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 disclosure for this sale can be found here. Insiders sold a total of 18,709 shares of company stock worth $4,546,940 over the last 90 days. Corporate insiders own 1.07% of the company's stock.

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.