Prudential PLC Increases Stock Holdings in STERIS plc (NYSE:STE)

Prudential PLC grew its holdings in shares of STERIS plc (NYSE:STE) by 11.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 46,039 shares of the medical equipment provider’s stock after purchasing an additional 4,840 shares during the period. Prudential PLC’s holdings in STERIS were worth $10,107,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Taylor Frigon Capital Management LLC lifted its position in STERIS by 0.8% in the second quarter. Taylor Frigon Capital Management LLC now owns 6,175 shares of the medical equipment provider’s stock valued at $1,356,000 after acquiring an additional 46 shares during the last quarter. Global Retirement Partners LLC lifted its holdings in shares of STERIS by 9.4% in the 1st quarter. Global Retirement Partners LLC now owns 570 shares of the medical equipment provider’s stock valued at $128,000 after purchasing an additional 49 shares during the last quarter. First Hawaiian Bank boosted its position in shares of STERIS by 0.4% in the 1st quarter. First Hawaiian Bank now owns 13,857 shares of the medical equipment provider’s stock valued at $3,115,000 after purchasing an additional 50 shares during the period. Kentucky Retirement Systems Insurance Trust Fund grew its stake in STERIS by 1.5% during the 4th quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 3,520 shares of the medical equipment provider’s stock worth $774,000 after buying an additional 53 shares during the last quarter. Finally, J.Safra Asset Management Corp increased its position in STERIS by 77.9% during the first quarter. J.Safra Asset Management Corp now owns 121 shares of the medical equipment provider’s stock worth $27,000 after buying an additional 53 shares during the period. Institutional investors and hedge funds own 94.69% of the company’s stock.

STERIS Price Performance

Shares of NYSE:STE opened at $245.50 on Tuesday. STERIS plc has a 52 week low of $195.47 and a 52 week high of $246.91. The company has a 50-day moving average price of $231.33 and a 200 day moving average price of $224.80. The company has a market cap of $24.21 billion, a P/E ratio of 64.27 and a beta of 0.83. The company has a quick ratio of 1.49, a current ratio of 2.33 and a debt-to-equity ratio of 0.35.

STERIS (NYSE:STE) last posted its quarterly earnings results on Tuesday, August 6th. The medical equipment provider reported $2.14 EPS for the quarter, beating the consensus estimate of $1.98 by $0.16. The business had revenue of $1.28 billion during the quarter, compared to analysts’ expectations of $1.27 billion. STERIS had a return on equity of 13.85% and a net margin of 7.36%. The company’s quarterly revenue was down .4% compared to the same quarter last year. During the same period last year, the firm earned $2.00 EPS. Research analysts predict that STERIS plc will post 9.05 earnings per share for the current year.

STERIS Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 20th. Stockholders of record on Thursday, September 5th will be issued a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a dividend yield of 0.93%. The ex-dividend date of this dividend is Thursday, September 5th. This is an increase from STERIS’s previous quarterly dividend of $0.52. STERIS’s dividend payout ratio (DPR) is currently 59.69%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on STE. Needham & Company LLC reissued a “hold” rating on shares of STERIS in a report on Thursday, August 8th. KeyCorp increased their price target on shares of STERIS from $255.00 to $265.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 3rd. Stephens restated an “overweight” rating and issued a $260.00 price objective on shares of STERIS in a research note 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. Finally, JMP Securities restated a “market outperform” rating and issued a $265.00 price target on shares of STERIS in a research report on Wednesday, August 7th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, STERIS currently has an average rating of “Moderate Buy” and an average price target of $246.00.

Insider Activity at STERIS

In other STERIS news, Director Christopher S. Holland sold 473 shares of the company’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 transaction, the director now directly owns 582 shares in the company, valued at $139,493.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.14% of the company’s stock.

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.