Mitsubishi UFJ Asset Management UK Ltd. Reduces Holdings in STERIS plc (NYSE:STE)

Mitsubishi UFJ Asset Management UK Ltd. reduced its position in shares of STERIS plc (NYSE:STE) by 71.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,000 shares of the medical equipment provider’s stock after selling 5,000 shares during the period. Mitsubishi UFJ Asset Management UK Ltd.’s holdings in STERIS were worth $485,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Russell Investments Group Ltd. increased its position in shares of STERIS by 8.3% in the 1st quarter. Russell Investments Group Ltd. now owns 58,841 shares of the medical equipment provider’s stock valued at $13,235,000 after purchasing an additional 4,494 shares during the last quarter. State Board of Administration of Florida Retirement System lifted its position in shares of STERIS by 3.2% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 106,346 shares of the medical equipment provider’s stock worth $23,909,000 after buying an additional 3,342 shares during the last quarter. Diversify Advisory Services LLC acquired a new position in shares of STERIS in the 1st quarter valued at $903,000. Artemis Investment Management LLP grew its position in shares of STERIS by 21.0% in the 1st quarter. Artemis Investment Management LLP now owns 179,837 shares of the medical equipment provider’s stock valued at $40,410,000 after buying an additional 31,162 shares during the last quarter. Finally, BDF Gestion purchased a new stake in STERIS in the second quarter valued at approximately $2,644,000. 94.69% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have weighed in on STE shares. Stephens reaffirmed an “overweight” rating and set a $260.00 price objective on shares of STERIS in a research report on Wednesday, August 7th. StockNews.com upgraded shares of STERIS from a “hold” rating to a “buy” rating in a research note on Tuesday, August 13th. JMP Securities reiterated a “market outperform” rating and set a $265.00 price target on shares of STERIS in a research note on Wednesday, August 7th. KeyCorp raised their price objective on shares of STERIS from $255.00 to $265.00 and gave the company an “overweight” rating in a research report on Tuesday, September 3rd. Finally, Needham & Company LLC reiterated a “hold” rating on shares of STERIS in a research report on Thursday, August 8th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $246.00.

STERIS Price Performance

STERIS stock traded up $0.65 during mid-day trading on Friday, reaching $225.65. The company had a trading volume of 607,791 shares, compared to its average volume of 473,642. The stock’s 50-day simple moving average is $235.66 and its 200-day simple moving average is $225.94. The company has a market capitalization of $22.31 billion, a P/E ratio of 59.07 and a beta of 0.84. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.33 and a quick ratio of 1.49. STERIS plc has a 1 year low of $195.47 and a 1 year high of $248.24.

STERIS (NYSE:STE) last posted its earnings results on Tuesday, August 6th. The medical equipment provider reported $2.14 EPS for the quarter, topping analysts’ consensus estimates of $1.98 by $0.16. STERIS had a return on equity of 13.85% and a net margin of 7.36%. The company had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $1.27 billion. During the same period in the previous year, the business earned $2.00 earnings per share. STERIS’s quarterly revenue was down .4% compared to the same quarter last year. On average, equities analysts predict that STERIS plc will post 9.06 EPS for the current year.

STERIS Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 20th. Shareholders of record on Thursday, September 5th were given a dividend of $0.57 per share. The ex-dividend date of this dividend was Thursday, September 5th. This represents a $2.28 dividend on an annualized basis and a yield of 1.01%. This is a boost from STERIS’s previous quarterly dividend of $0.52. STERIS’s payout ratio is presently 59.69%.

Insider Activity

In other STERIS news, CFO Michael J. Tokich sold 23,332 shares of the stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $247.00, for a total transaction of $5,763,004.00. Following the sale, the chief financial officer now owns 42,930 shares in the company, valued at approximately $10,603,710. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other STERIS news, Director Christopher S. Holland sold 473 shares of the firm’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $239.68, for a total transaction of $113,368.64. Following the sale, the director now directly owns 582 shares of the company’s stock, valued at $139,493.76. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Michael J. Tokich sold 23,332 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $247.00, for a total transaction of $5,763,004.00. Following the completion of the transaction, the chief financial officer now directly owns 42,930 shares of the company’s stock, valued at approximately $10,603,710. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.14% of the company’s stock.

STERIS Company 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.