Dividend Assets Capital LLC Takes Position in Steris Plc (NYSE:STE)
Dividend Assets Capital LLC acquired a new position in Steris Plc (NYSE:STE) during the second quarter, Holdings Channel reports. The fund acquired 199,075 shares of the medical equipment provider’s stock, valued at approximately $16,225,000.
Other large investors also recently made changes to their positions in the company. Legato Capital Management LLC boosted its stake in shares of Steris Plc by 6,926.1% in the first quarter. Legato Capital Management LLC now owns 5,944,248 shares of the medical equipment provider’s stock worth $85,578,000 after buying an additional 5,859,646 shares during the period. BlackRock Inc. boosted its position in Steris Plc by 16,597.1% in the first quarter. BlackRock Inc. now owns 5,272,105 shares of the medical equipment provider’s stock worth $366,200,000 after buying an additional 5,240,530 shares during the last quarter. Wellington Management Group LLP boosted its position in Steris Plc by 77.8% in the first quarter. Wellington Management Group LLP now owns 6,529,610 shares of the medical equipment provider’s stock worth $453,547,000 after buying an additional 2,856,744 shares during the last quarter. Bessemer Group Inc. boosted its position in Steris Plc by 944,971.1% in the second quarter. Bessemer Group Inc. now owns 1,342,001 shares of the medical equipment provider’s stock worth $109,373,000 after buying an additional 1,341,859 shares during the last quarter. Finally, American Century Companies Inc. boosted its position in Steris Plc by 18.9% in the first quarter. American Century Companies Inc. now owns 2,071,740 shares of the medical equipment provider’s stock worth $143,903,000 after buying an additional 328,635 shares during the last quarter. 91.80% of the stock is owned by institutional investors and hedge funds.
Steris Plc (NYSE:STE) opened at 84.94 on Friday. The firm has a market capitalization of $7.24 billion, a PE ratio of 60.76 and a beta of 1.33. Steris Plc has a 1-year low of $63.80 and a 1-year high of $87.49. The firm has a 50-day moving average price of $82.58 and a 200-day moving average price of $75.07.
Steris Plc (NYSE:STE) last posted its earnings results on Tuesday, August 8th. The medical equipment provider reported $0.85 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.80 by $0.05. Steris Plc had a net margin of 4.63% and a return on equity of 11.39%. The firm had revenue of $608 million for the quarter, compared to analysts’ expectations of $597.66 million. During the same quarter last year, the firm earned $0.79 EPS. The company’s quarterly revenue was down 4.8% compared to the same quarter last year. Equities analysts expect that Steris Plc will post $4.06 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, September 28th. Shareholders of record on Tuesday, August 29th will be given a dividend of $0.31 per share. The ex-dividend date is Friday, August 25th. This represents a $1.24 annualized dividend and a dividend yield of 1.46%. This is a boost from Steris Plc’s previous quarterly dividend of $0.28. Steris Plc’s dividend payout ratio (DPR) is currently 80.00%.
A number of research analysts have issued reports on STE shares. KeyCorp raised Steris Plc from a “sector weight” rating to an “overweight” rating and set a $89.00 target price for the company in a research note on Wednesday, May 3rd. Wellington Shields cut Steris Plc from a “gradually accumulate” rating to a “hold” rating in a research note on Monday, June 5th. Zacks Investment Research raised Steris Plc from a “sell” rating to a “hold” rating in a research note on Friday, June 23rd. BidaskClub cut Steris Plc from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 31st. Finally, Raymond James Financial, Inc. boosted their target price on Steris Plc from $90.00 to $95.00 and gave the company an “outperform” rating in a research note on Wednesday. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $86.75.
In other Steris Plc news, Director Mohsen Sohi sold 2,744 shares of Steris Plc stock in a transaction that occurred on Wednesday, August 9th. The shares were sold at an average price of $85.98, for a total transaction of $235,929.12. Following the transaction, the director now owns 21,816 shares of the company’s stock, valued at approximately $1,875,739.68. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Sudhir K. Pahwa sold 800 shares of Steris Plc stock in a transaction that occurred on Thursday, May 25th. The stock was sold at an average price of $77.28, for a total transaction of $61,824.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 33,084 shares of company stock worth $2,668,633. Insiders own 2.55% of the company’s stock.
About Steris Plc
STERIS plc provides infection prevention and other procedural products and services. The Company operates through four segments: Healthcare Products, which offers infection prevention and procedural solutions for healthcare providers, including capital equipment and related maintenance, and installation services, as well as consumables; Healthcare Specialty Services, which provides a range of specialty services for healthcare providers, including hospital sterilization services, instrument and scope repairs, and linen management; Life Sciences, which offers capital equipment and consumable products, and equipment maintenance and specialty services for pharmaceutical manufacturers and research facilities, and Applied Sterilization Technologies, which offers contract sterilization and laboratory services for medical device and pharmaceutical customers and others.
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