Kentucky Retirement Systems Insurance Trust Fund Purchases New Position in STERIS plc (NYSE:STE)

Kentucky Retirement Systems Insurance Trust Fund purchased a new stake in STERIS plc (NYSE:STE) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 2,866 shares of the medical equipment provider’s stock, valued at approximately $650,000.

Other large investors have also made changes to their positions in the company. QRG Capital Management Inc. grew its stake in shares of STERIS by 122.5% in the 1st quarter. QRG Capital Management Inc. now owns 2,832 shares of the medical equipment provider’s stock valued at $642,000 after buying an additional 1,559 shares in the last quarter. Dynamic Advisor Solutions LLC boosted its position in STERIS by 23.6% during the first quarter. Dynamic Advisor Solutions LLC now owns 1,203 shares of the medical equipment provider’s stock worth $273,000 after purchasing an additional 230 shares during the period. Fifth Third Bancorp boosted its position in STERIS by 16.8% during the first quarter. Fifth Third Bancorp now owns 2,893 shares of the medical equipment provider’s stock worth $656,000 after purchasing an additional 416 shares during the period. Ipswich Investment Management Co. Inc. bought a new stake in STERIS during the first quarter worth approximately $412,000. Finally, RWA Wealth Partners LLC bought a new stake in STERIS during the fourth quarter worth approximately $561,000. Institutional investors own 94.69% of the company’s stock.

Insider Activity at STERIS

In other STERIS news, SVP Cary L. Majors sold 12,828 shares of STERIS stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $250.08, for a total transaction of $3,208,026.24. Following the completion of the transaction, the senior vice president now directly owns 11,372 shares of the company’s stock, valued at approximately $2,843,909.76. This trade represents a 53.01% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Daniel A. Carestio sold 17,626 shares of STERIS stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $242.56, for a total value of $4,275,362.56. Following the transaction, the chief executive officer now directly owns 51,385 shares of the company’s stock, valued at approximately $12,463,945.60. The trade was a 25.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.07% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

STE has been the subject of a number of recent analyst reports. Stephens reaffirmed an “overweight” rating and set a $250.00 target price on shares of STERIS in a research report on Thursday, May 15th. Citigroup reaffirmed an “outperform” rating on shares of STERIS in a research report on Friday, May 16th. Wall Street Zen raised STERIS from a “buy” rating to a “strong-buy” rating in a research report on Saturday, June 14th. Morgan Stanley upped their target price on STERIS from $240.00 to $260.00 and gave the stock an “equal weight” rating in a research report on Monday, May 19th. Finally, Needham & Company LLC reissued a “hold” rating on shares of STERIS in a research report on Monday, April 7th. Three analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $263.83.

STERIS Stock Up 1.2%

STE opened at $239.72 on Wednesday. STERIS plc has a 1-year low of $200.98 and a 1-year high of $252.79. The company has a current ratio of 1.96, a quick ratio of 1.39 and a debt-to-equity ratio of 0.29. The stock has a market capitalization of $23.58 billion, a price-to-earnings ratio of 38.67 and a beta of 0.94. The business has a 50 day moving average of $235.26 and a 200-day moving average of $223.69.

STERIS (NYSE:STE) last issued its earnings results on Wednesday, May 14th. The medical equipment provider reported $2.74 EPS for the quarter, topping the consensus estimate of $2.59 by $0.15. The firm had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.47 billion. STERIS had a return on equity of 14.21% and a net margin of 11.26%. STERIS’s quarterly revenue was up 5.7% compared to the same quarter last year. During the same period last year, the business earned $2.58 earnings per share. As a group, sell-side analysts anticipate that STERIS plc will post 9.08 earnings per share for the current year.

STERIS Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 26th. Investors of record on Tuesday, June 10th will be given a $0.57 dividend. The ex-dividend date of this dividend is Tuesday, June 10th. This represents a $2.28 annualized dividend and a yield of 0.95%. STERIS’s dividend payout ratio (DPR) is currently 36.77%.

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.