Swedbank AB Purchases 27,700 Shares of STERIS plc $STE

Swedbank AB raised its stake in STERIS plc (NYSE:STE) by 12.4% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 250,278 shares of the medical equipment provider’s stock after purchasing an additional 27,700 shares during the period. Swedbank AB owned 0.25% of STERIS worth $56,726,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of STE. Park Edge Advisors LLC raised its stake in shares of STERIS by 1.0% during the 1st quarter. Park Edge Advisors LLC now owns 4,709 shares of the medical equipment provider’s stock worth $1,067,000 after buying an additional 47 shares during the period. Ashton Thomas Private Wealth LLC lifted its stake in STERIS by 3.5% during the first quarter. Ashton Thomas Private Wealth LLC now owns 1,611 shares of the medical equipment provider’s stock worth $365,000 after purchasing an additional 54 shares during the last quarter. Blue Trust Inc. lifted its stake in STERIS by 16.5% during the first quarter. Blue Trust Inc. now owns 395 shares of the medical equipment provider’s stock worth $90,000 after purchasing an additional 56 shares during the last quarter. Taylor Frigon Capital Management LLC lifted its stake in STERIS by 1.0% in the first quarter. Taylor Frigon Capital Management LLC now owns 6,280 shares of the medical equipment provider’s stock valued at $1,423,000 after buying an additional 62 shares during the last quarter. Finally, West Coast Financial LLC grew its holdings in STERIS by 3.9% during the first quarter. West Coast Financial LLC now owns 1,658 shares of the medical equipment provider’s stock worth $376,000 after acquiring an additional 63 shares during the period. 94.69% of the stock is owned by hedge funds and other institutional investors.

STERIS Stock Down 0.9%

Shares of STE stock opened at $250.08 on Friday. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.22 and a quick ratio of 1.53. The company has a market capitalization of $24.63 billion, a price-to-earnings ratio of 38.30 and a beta of 0.95. The company’s fifty day moving average price is $237.41 and its 200-day moving average price is $233.09. STERIS plc has a one year low of $200.98 and a one year high of $253.00.

STERIS (NYSE:STE) last posted 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 business had revenue of $1.40 billion during the quarter, compared to analyst estimates of $1.36 billion. During the same quarter in the previous year, the business posted $2.03 EPS. The company’s quarterly revenue was up 8.8% compared to the same quarter last year. Sell-side analysts expect that STERIS plc will post 9.08 EPS for the current fiscal year.

STERIS Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 26th. Stockholders of record on Thursday, September 4th will be paid 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 dividend on an annualized basis and a dividend yield of 1.0%. STERIS’s dividend payout ratio is currently 38.59%.

Insider Buying and Selling at STERIS

In other news, CAO Karen L. Burton sold 7,900 shares of the stock in a transaction that occurred on 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 completion of the transaction, the chief accounting officer directly owned 5,994 shares in the company, valued at approximately $1,448,929.62. This represents a 56.86% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Renato Tamaro sold 3,204 shares of the firm’s stock in a transaction on Wednesday, August 20th. The shares were 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 in the company, valued at $1,799,762.04. The trade was a 30.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 18,709 shares of company stock valued at $4,546,940 over the last 90 days. 1.07% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research firms have recently issued reports on STE. KeyCorp increased their target price on STERIS from $277.00 to $288.00 and gave the company an “overweight” rating in a research note on Tuesday, July 22nd. Wall Street Zen lowered STERIS from a “strong-buy” rating to a “buy” rating in a research note on Saturday, September 6th. Jefferies Financial Group began 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 lifted their price target on STERIS from $276.00 to $295.00 and gave the stock an “overweight” rating in a report on Friday, August 8th. Finally, Citigroup reaffirmed an “outperform” rating on shares of STERIS in a research note on Friday, May 16th. Six analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $273.50.

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.