Cranbrook Wealth Management LLC Invests $454,000 in STERIS plc (NYSE:STE)

Cranbrook Wealth Management LLC acquired a new stake in shares of STERIS plc (NYSE:STE) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 2,069 shares of the medical equipment provider’s stock, valued at approximately $454,000.

A number of other large investors also recently bought and sold shares of the business. Norges Bank purchased a new position in STERIS in the fourth quarter valued at about $220,954,000. Massachusetts Financial Services Co. MA grew its position in shares of STERIS by 13.7% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 6,442,805 shares of the medical equipment provider’s stock worth $1,414,453,000 after buying an additional 778,613 shares during the last quarter. APG Asset Management US Inc. bought a new position in shares of STERIS during the 4th quarter worth approximately $74,963,000. Sustainable Growth Advisers LP lifted its position in STERIS by 23.5% during the first quarter. Sustainable Growth Advisers LP now owns 1,485,578 shares of the medical equipment provider’s stock valued at $333,988,000 after acquiring an additional 282,387 shares during the last quarter. Finally, Impax Asset Management Group plc boosted its stake in STERIS by 29.7% in the second quarter. Impax Asset Management Group plc now owns 1,150,517 shares of the medical equipment provider’s stock valued at $251,663,000 after acquiring an additional 263,383 shares in the last quarter. Institutional investors own 94.69% of the company’s stock.

STERIS Stock Down 0.5 %

NYSE:STE opened at $243.68 on Tuesday. The firm has a market capitalization of $24.09 billion, a P/E ratio of 63.79 and a beta of 0.83. The company’s fifty day moving average price is $234.49 and its 200-day moving average price is $225.27. STERIS plc has a 1-year low of $195.47 and a 1-year high of $248.24. 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 (NYSE:STE) last issued 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. The firm had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $1.27 billion. STERIS had a return on equity of 13.85% and a net margin of 7.36%. The company’s revenue was down .4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.00 earnings per share. As a group, equities research analysts anticipate that STERIS plc will post 9.05 EPS for the current year.

STERIS Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 20th. Investors of record on Thursday, September 5th will be paid a $0.57 dividend. This is a boost from STERIS’s previous quarterly dividend of $0.52. This represents a $2.28 annualized dividend and a dividend yield of 0.94%. The ex-dividend date is Thursday, September 5th. STERIS’s payout ratio is currently 59.69%.

Insider Buying and Selling

In related news, Director Christopher S. Holland sold 473 shares of STERIS stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $239.68, for a total value of $113,368.64. Following the completion of the transaction, the director now owns 582 shares in the company, valued at approximately $139,493.76. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other STERIS news, CFO Michael J. Tokich sold 23,332 shares of the stock in a transaction 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 transaction, the chief financial officer now directly owns 42,930 shares of the company’s stock, valued at $10,603,710. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Christopher S. Holland sold 473 shares of the business’s stock in a transaction dated 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 directly owns 582 shares of the company’s stock, valued at approximately $139,493.76. The disclosure for this sale can be found here. 1.14% of the stock is currently owned by insiders.

Analyst Ratings Changes

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

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.