UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC Increases Stock Position in STERIS plc $STE

UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of STERIS plc (NYSE:STE) by 55.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,520,479 shares of the medical equipment provider’s stock after buying an additional 540,999 shares during the quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC owned 1.55% of STERIS worth $344,617,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in shares of STERIS by 0.4% in the first quarter. Vanguard Group Inc. now owns 11,957,852 shares of the medical equipment provider’s stock valued at $2,710,247,000 after purchasing an additional 46,628 shares during the period. Massachusetts Financial Services Co. MA boosted its stake in shares of STERIS by 9.1% in the first quarter. Massachusetts Financial Services Co. MA now owns 5,439,349 shares of the medical equipment provider’s stock valued at $1,232,828,000 after purchasing an additional 452,146 shares during the period. Generation Investment Management LLP boosted its stake in shares of STERIS by 5.4% in the first quarter. Generation Investment Management LLP now owns 3,354,545 shares of the medical equipment provider’s stock valued at $760,308,000 after purchasing an additional 170,392 shares during the period. Select Equity Group L.P. boosted its stake in shares of STERIS by 165.3% in the fourth quarter. Select Equity Group L.P. now owns 2,599,730 shares of the medical equipment provider’s stock valued at $534,400,000 after purchasing an additional 1,619,796 shares during the period. Finally, Orbis Allan Gray Ltd purchased a new position in shares of STERIS in the first quarter valued at approximately $349,950,000. Hedge funds and other institutional investors own 94.69% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently commented on the stock. Morgan Stanley raised their price objective on shares of STERIS from $276.00 to $295.00 and gave the company an “overweight” rating in a research note on Friday, August 8th. JMP Securities raised their price objective on shares of STERIS from $265.00 to $280.00 and gave the company a “market outperform” rating in a research note on Friday, May 16th. Stephens reissued an “overweight” rating and issued a $250.00 price objective on shares of STERIS in a research note on Thursday, May 15th. Citigroup reaffirmed an “outperform” rating on shares of STERIS in a report on Friday, May 16th. Finally, Jefferies Financial Group initiated 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. Six research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $273.50.

Insider Activity at STERIS

In other STERIS news, VP Renato Tamaro sold 3,204 shares of the firm’s stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $249.24, for a total transaction of $798,564.96. Following the sale, the vice president owned 7,221 shares of the company’s stock, valued at approximately $1,799,762.04. This trade represents a 30.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Karen L. Burton sold 7,900 shares of the firm’s 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 sale, the chief accounting officer directly owned 5,994 shares in the company, valued at approximately $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 a total of 18,709 shares of company stock worth $4,546,940 in the last ninety days. Company insiders own 1.07% of the company’s stock.

STERIS Stock Down 1.8%

Shares of NYSE:STE opened at $244.01 on Thursday. 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 plc has a fifty-two week low of $200.98 and a fifty-two week high of $252.79. The firm’s 50 day moving average price is $236.86 and its 200 day moving average price is $232.71. The stock has a market cap of $24.03 billion, a price-to-earnings ratio of 37.37 and a beta of 0.95.

STERIS (NYSE:STE) last released its quarterly earnings data on Wednesday, August 6th. The medical equipment provider reported $2.34 earnings per share for the quarter, topping analysts’ consensus estimates of $2.32 by $0.02. STERIS had a net margin of 11.61% and a return on equity of 14.17%. The company had revenue of $1.40 billion for the quarter, compared to analysts’ expectations of $1.36 billion. During the same quarter last year, the company earned $2.03 earnings per share. The firm’s revenue for the quarter was up 8.8% on a year-over-year basis. As a group, equities research analysts predict that STERIS plc will post 9.08 earnings per share for the current fiscal year.

STERIS Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Thursday, September 4th will be issued a dividend of $0.63 per share. The ex-dividend date of this dividend is Thursday, September 4th. This is an increase from STERIS’s previous quarterly dividend of $0.57. This represents a $2.52 dividend on an annualized basis and a yield of 1.0%. STERIS’s dividend payout ratio is 38.59%.

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.