Impax Asset Management Group plc Cuts Stake in STERIS plc (NYSE:STE)

Impax Asset Management Group plc lessened its holdings in shares of STERIS plc (NYSE:STE) by 3.1% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 1,114,584 shares of the medical equipment provider’s stock after selling 35,933 shares during the quarter. Impax Asset Management Group plc’s holdings in STERIS were worth $269,204,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. QRG Capital Management Inc. purchased a new stake in STERIS in the third quarter valued at about $232,000. Asset Management One Co. Ltd. increased its holdings in shares of STERIS by 1.8% during the third quarter. Asset Management One Co. Ltd. now owns 101,685 shares of the medical equipment provider’s stock valued at $24,620,000 after acquiring an additional 1,779 shares in the last quarter. National Pension Service raised its position in shares of STERIS by 5.0% in the 3rd quarter. National Pension Service now owns 159,386 shares of the medical equipment provider’s stock valued at $38,657,000 after purchasing an additional 7,574 shares during the last quarter. Harbor Capital Advisors Inc. boosted its stake in STERIS by 111.0% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 8,196 shares of the medical equipment provider’s stock worth $1,988,000 after purchasing an additional 4,311 shares in the last quarter. Finally, Janney Montgomery Scott LLC grew its position in STERIS by 3.5% during the 3rd quarter. Janney Montgomery Scott LLC now owns 7,609 shares of the medical equipment provider’s stock worth $1,846,000 after purchasing an additional 256 shares during the last quarter. Institutional investors and hedge funds own 94.69% of the company’s stock.

Insider Transactions at STERIS

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

STERIS Stock Performance

NYSE STE opened at $225.82 on Tuesday. STERIS plc has a fifty-two week low of $195.47 and a fifty-two week high of $248.24. 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 firm has a market capitalization of $22.27 billion, a P/E ratio of 56.03 and a beta of 0.85. The stock has a 50-day simple moving average of $233.54 and a two-hundred day simple moving average of $227.40.

STERIS (NYSE:STE) last issued its quarterly earnings data 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 net margin of 7.36% and a return on equity of 13.85%. The business had revenue of $1.28 billion for the quarter, compared to analysts’ expectations of $1.27 billion. During the same quarter last year, the company earned $2.00 EPS. The business’s revenue was down .4% on a year-over-year basis. On average, equities analysts forecast that STERIS plc will post 9.02 earnings per share for the current year.

STERIS Dividend Announcement

The company 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 $0.57 dividend. The ex-dividend date is Tuesday, November 19th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 1.01%. STERIS’s dividend payout ratio (DPR) is currently 56.58%.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. KeyCorp lifted their price objective 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 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 lowered STERIS from a “strong-buy” rating to a “buy” rating in a report on Tuesday, October 29th. JMP Securities reaffirmed a “market outperform” rating and set a $265.00 target price on shares of STERIS in a report on Wednesday, August 7th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of STERIS in a research report on Thursday, August 8th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $253.00.

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.