Generation Investment Management LLP Sells 11,744 Shares of STERIS plc (NYSE:STE)

Generation Investment Management LLP lowered its stake in STERIS plc (NYSE:STE) by 1.0% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 1,180,931 shares of the medical equipment provider’s stock after selling 11,744 shares during the period. STERIS makes up 1.2% of Generation Investment Management LLP’s portfolio, making the stock its 27th largest holding. Generation Investment Management LLP owned 1.19% of STERIS worth $225,888,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of STE. 1832 Asset Management L.P. bought a new position in shares of STERIS during the first quarter worth approximately $25,000. Delta Asset Management LLC TN bought a new position in STERIS during the 4th quarter worth $27,000. EverSource Wealth Advisors LLC lifted its holdings in shares of STERIS by 144.3% during the first quarter. EverSource Wealth Advisors LLC now owns 171 shares of the medical equipment provider’s stock worth $33,000 after buying an additional 101 shares in the last quarter. Ronald Blue Trust Inc. boosted its position in shares of STERIS by 309.1% in the first quarter. Ronald Blue Trust Inc. now owns 180 shares of the medical equipment provider’s stock valued at $33,000 after acquiring an additional 136 shares during the period. Finally, Massmutual Trust Co. FSB ADV grew its stake in shares of STERIS by 1,104.0% in the first quarter. Massmutual Trust Co. FSB ADV now owns 301 shares of the medical equipment provider’s stock valued at $58,000 after acquiring an additional 276 shares in the last quarter. 92.91% of the stock is owned by institutional investors.

STERIS Trading Down 0.8 %

Shares of STE stock opened at $222.75 on Friday. STERIS plc has a fifty-two week low of $159.21 and a fifty-two week high of $254.00. The stock’s fifty day moving average price is $226.46 and its two-hundred day moving average price is $206.07. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.42 and a current ratio of 2.29. The company has a market cap of $22.00 billion, a PE ratio of 182.58 and a beta of 0.85.

STERIS (NYSE:STE) last released its quarterly earnings data on Tuesday, August 1st. The medical equipment provider reported $2.00 earnings per share for the quarter, beating the consensus estimate of $1.86 by $0.14. The business had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.21 billion. STERIS had a return on equity of 13.75% and a net margin of 2.35%. STERIS’s revenue was up 11.1% compared to the same quarter last year. During the same period last year, the firm posted $1.90 earnings per share. Equities analysts predict that STERIS plc will post 8.72 EPS for the current fiscal year.

STERIS Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 22nd. Investors of record on Wednesday, September 6th will be given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 0.93%. This is a boost from STERIS’s previous quarterly dividend of $0.47. The ex-dividend date is Tuesday, September 5th. STERIS’s dividend payout ratio is currently 170.49%.

Analyst Upgrades and Downgrades

STE has been the subject of several analyst reports. KeyCorp lifted their price objective on shares of STERIS from $254.00 to $258.00 and gave the stock an “overweight” rating in a research note on Thursday, August 3rd. Stephens boosted their price target on STERIS from $240.00 to $250.00 in a research note on Monday, July 17th. JMP Securities raised their price objective on STERIS from $240.00 to $265.00 and gave the stock a “market outperform” rating in a research note on Friday, September 1st. Morgan Stanley upped their target price on STERIS from $206.00 to $225.00 and gave the company an “equal weight” rating in a research report on Thursday, August 3rd. Finally, StockNews.com assumed coverage on STERIS in a report on Thursday, August 17th. They set a “buy” rating on the stock. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, STERIS has a consensus rating of “Moderate Buy” and an average target price of $239.60.

STERIS 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.