Copeland Capital Management LLC Increases Position in STERIS plc (NYSE:STE)

Copeland Capital Management LLC raised its holdings in shares of STERIS plc (NYSE:STE) by 0.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 208,665 shares of the medical equipment provider’s stock after buying an additional 225 shares during the period. Copeland Capital Management LLC owned about 0.21% of STERIS worth $47,294,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. QRG Capital Management Inc. boosted its stake in shares of STERIS by 122.5% during the first quarter. QRG Capital Management Inc. now owns 2,832 shares of the medical equipment provider’s stock valued at $642,000 after purchasing an additional 1,559 shares during the period. Dynamic Advisor Solutions LLC boosted its stake in shares of STERIS by 23.6% during the first quarter. Dynamic Advisor Solutions LLC now owns 1,203 shares of the medical equipment provider’s stock valued at $273,000 after purchasing an additional 230 shares during the period. Fifth Third Bancorp boosted its stake in shares of STERIS by 16.8% during the first quarter. Fifth Third Bancorp now owns 2,893 shares of the medical equipment provider’s stock valued at $656,000 after purchasing an additional 416 shares during the period. Ipswich Investment Management Co. Inc. purchased a new stake in shares of STERIS during the first quarter valued at $412,000. Finally, State of Alaska Department of Revenue boosted its stake in shares of STERIS by 2.3% during the first quarter. State of Alaska Department of Revenue now owns 11,510 shares of the medical equipment provider’s stock valued at $2,608,000 after purchasing an additional 255 shares during the period. Hedge funds and other institutional investors own 94.69% of the company’s stock.

STERIS Stock Performance

Shares of STERIS stock opened at $238.63 on Friday. The company has a market capitalization of $23.47 billion, a PE ratio of 38.49 and a beta of 0.94. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.39 and a current ratio of 1.96. The company has a 50-day simple moving average of $235.99 and a two-hundred day simple moving average of $223.97. STERIS plc has a one year low of $200.98 and a one year high of $252.79.

STERIS (NYSE:STE) last released its quarterly earnings results on Wednesday, May 14th. The medical equipment provider reported $2.74 earnings per share for the quarter, beating analysts’ consensus estimates of $2.59 by $0.15. STERIS had a net margin of 11.26% and a return on equity of 14.21%. The business had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.47 billion. During the same period last year, the business earned $2.58 EPS. The company’s revenue was up 5.7% compared to the same quarter last year. Research analysts expect that STERIS plc will post 9.08 EPS for the current fiscal year.

STERIS Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 26th. Stockholders of record on Tuesday, June 10th were given a $0.57 dividend. The ex-dividend date was Tuesday, June 10th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 0.96%. STERIS’s payout ratio is 36.77%.

Insider Transactions at STERIS

In related news, SVP Cary L. Majors sold 12,828 shares of STERIS stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $250.08, for a total value of $3,208,026.24. Following the completion of the sale, the senior vice president now directly owns 11,372 shares in the company, valued at $2,843,909.76. This trade represents a 53.01% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Daniel A. Carestio sold 17,626 shares of the company’s stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $242.56, for a total transaction of $4,275,362.56. Following the transaction, the chief executive officer now owns 51,385 shares in the company, valued at $12,463,945.60. The trade was a 25.54% decrease in their position. The disclosure for this sale can be found here. Insiders own 1.07% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on STE. JMP Securities boosted their price target on STERIS from $265.00 to $280.00 and gave the company a “market outperform” rating in a report on Friday, May 16th. Jefferies Financial Group started coverage on STERIS in a research report on Thursday, May 29th. They set a “hold” rating and a $263.00 target price for the company. Citigroup reaffirmed an “outperform” rating on shares of STERIS in a research report on Friday, May 16th. Wall Street Zen upgraded shares of STERIS from a “buy” rating to a “strong-buy” rating in a report on Saturday, June 14th. Finally, Stephens reiterated an “overweight” rating and set a $250.00 target price on shares of STERIS in a report on Thursday, May 15th. Three equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $263.83.

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.