Impax Asset Management Group plc Reduces Stock Position in STERIS plc (NYSE:STE)

Impax Asset Management Group plc cut its stake in shares of STERIS plc (NYSE:STE) by 3.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,114,584 shares of the medical equipment provider’s stock after selling 35,933 shares during the period. Impax Asset Management Group plc owned about 1.13% of STERIS worth $269,204,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Massachusetts Financial Services Co. MA increased its position in STERIS by 13.7% during the second quarter. Massachusetts Financial Services Co. MA now owns 6,442,805 shares of the medical equipment provider’s stock valued at $1,414,453,000 after acquiring an additional 778,613 shares during the last quarter. Assenagon Asset Management S.A. increased its position in shares of STERIS by 7,418.7% during the 3rd quarter. Assenagon Asset Management S.A. now owns 309,771 shares of the medical equipment provider’s stock valued at $75,132,000 after purchasing an additional 305,651 shares during the last quarter. Sustainable Growth Advisers LP lifted its stake in shares of STERIS by 23.5% in the 1st quarter. Sustainable Growth Advisers LP now owns 1,485,578 shares of the medical equipment provider’s stock worth $333,988,000 after purchasing an additional 282,387 shares during the period. American Century Companies Inc. boosted its holdings in shares of STERIS by 1,946.3% in the second quarter. American Century Companies Inc. now owns 270,311 shares of the medical equipment provider’s stock worth $59,344,000 after buying an additional 257,101 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its holdings in shares of STERIS by 7.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,738,630 shares of the medical equipment provider’s stock worth $390,880,000 after buying an additional 120,616 shares during the last quarter. 94.69% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Needham & Company LLC reiterated a “hold” rating on shares of STERIS in a research report on Thursday, August 8th. KeyCorp raised their target price on STERIS from $255.00 to $265.00 and gave the stock an “overweight” rating in a report on Tuesday, September 3rd. JMP Securities reissued a “market outperform” rating and set a $265.00 price target on shares of STERIS in a report on Wednesday, August 7th. Stephens restated an “overweight” rating and issued a $260.00 price target on shares of STERIS in a research report on Wednesday, August 7th. Finally, StockNews.com cut STERIS from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, October 29th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $253.00.

Insider Buying and Selling at STERIS

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

STERIS Stock Performance

Shares of NYSE STE opened at $225.82 on Tuesday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.49 and a current ratio of 2.33. The company has a market cap of $22.27 billion, a P/E ratio of 56.03 and a beta of 0.85. STERIS plc has a 52-week low of $195.47 and a 52-week high of $248.24. The firm’s fifty day moving average is $233.54 and its two-hundred day moving average is $227.40.

STERIS (NYSE:STE) last issued its quarterly earnings data on Tuesday, August 6th. The medical equipment provider reported $2.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.98 by $0.16. STERIS had a return on equity of 13.85% and a net margin of 7.36%. The business had revenue of $1.28 billion for the quarter, compared to analysts’ expectations of $1.27 billion. During the same period in the prior year, the firm earned $2.00 EPS. The company’s revenue for the quarter was down .4% on a year-over-year basis. As a group, analysts anticipate that STERIS plc will post 9.02 EPS for the current fiscal year.

STERIS Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Tuesday, November 19th will be given a dividend of $0.57 per share. The ex-dividend date of this dividend is Tuesday, November 19th. This represents a $2.28 annualized dividend and a yield of 1.01%. STERIS’s dividend payout ratio (DPR) is currently 56.58%.

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.