Yousif Capital Management LLC Increases Stock Holdings in STERIS plc $STE

Key Points

• Yousif Capital Management LLC increased its holdings in STERIS plc by 24.3% during the second quarter, now owning 17,230 shares valued at approximately $4.14 million.
• STERIS reported strong earnings with $2.34 EPS, exceeding analysts' estimates and indicating an 8.8% year-over-year revenue increase to $1.40 billion.
• The company has announced a quarterly dividend increase to $0.63, up from the previous $0.57, representing a dividend yield of 1.1% and a payout ratio of 38.59%.

Yousif Capital Management LLC increased its holdings in shares of STERIS plc (NYSE:STE - Free Report) by 24.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,230 shares of the medical equipment provider's stock after buying an additional 3,369 shares during the period. Yousif Capital Management LLC's holdings in STERIS were worth $4,139,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently made changes to their positions in STE. Geneos Wealth Management Inc. lifted its position in shares of STERIS by 416.0% during the 1st quarter. Geneos Wealth Management Inc. now owns 129 shares of the medical equipment provider's stock valued at $29,000 after buying an additional 104 shares in the last quarter. 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 valued at $33,000 after buying an additional 142 shares in the last quarter. Zions Bancorporation National Association UT purchased a new position in shares of STERIS during the 1st quarter valued at approximately $37,000. ORG Wealth Partners LLC purchased a new position in shares of STERIS during the 1st quarter valued at approximately $43,000. Finally, 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 valued at $45,000 after buying an additional 166 shares in the last quarter. Hedge funds and other institutional investors own 94.69% of the company's stock.

STERIS Stock Down 0.5%

Shares of STE opened at $236.71 on Thursday. STERIS plc has a 52-week low of $200.98 and a 52-week high of $253.00. The company has a market capitalization of $23.31 billion, a PE ratio of 36.25 and a beta of 1.01. The stock has a fifty day simple moving average of $245.05 and a two-hundred day simple moving average of $236.07. 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 (NYSE:STE - Get Free Report) last issued its earnings results on Wednesday, August 6th. The medical equipment provider reported $2.34 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.32 by $0.02. STERIS had a return on equity of 14.17% and a net margin of 11.61%.The business 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 company earned $2.03 EPS. The company's revenue for the quarter was up 8.8% on a year-over-year basis. As a group, equities analysts forecast that STERIS plc will post 9.08 EPS for the current year.

STERIS Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 26th. Shareholders of record on Thursday, September 4th were paid a $0.63 dividend. This is a boost from STERIS's previous quarterly dividend of $0.57. The ex-dividend date of this dividend was Thursday, September 4th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.1%. STERIS's dividend payout ratio is 38.59%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on STE shares. KeyCorp increased their target price on STERIS from $277.00 to $288.00 and gave the company an "overweight" rating in a research report on Tuesday, July 22nd. Weiss Ratings restated a "buy (b)" rating on shares of STERIS in a report on Tuesday. Wall Street Zen upgraded STERIS from a "buy" rating to a "strong-buy" rating in a report on Sunday, September 14th. Finally, Morgan Stanley raised 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. Seven research 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, the stock has a consensus rating of "Moderate Buy" and an average target price of $273.50.

Insiders Place Their Bets

In other STERIS news, Director Mohsen Sohi sold 4,110 shares of the firm's stock in a transaction on Monday, August 11th. The stock was sold at an average price of $241.96, for a total value of $994,455.60. Following the completion of the sale, the director directly owned 22,361 shares of the company's stock, valued at $5,410,467.56. This trade represents a 15.53% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Daniel A. Carestio sold 159 shares of the firm's stock in a transaction on Monday, October 6th. The stock was sold at an average price of $241.82, for a total value of $38,449.38. Following the completion of the sale, the chief executive officer directly owned 51,096 shares of the company's stock, valued at $12,356,034.72. This trade represents a 0.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 18,868 shares of company stock worth $4,585,389. 1.07% of the stock is currently 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.

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