Lecap Asset Management Ltd. Buys Shares of 2,546 STERIS plc $STE

Lecap Asset Management Ltd. purchased a new position in shares of STERIS plc (NYSE:STE) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 2,546 shares of the medical equipment provider’s stock, valued at approximately $612,000.

A number of other hedge funds have also recently modified their holdings of STE. Vanguard Group Inc. raised its stake in STERIS by 0.4% during the first quarter. Vanguard Group Inc. now owns 11,957,852 shares of the medical equipment provider’s stock worth $2,710,247,000 after purchasing an additional 46,628 shares during the period. Massachusetts Financial Services Co. MA raised its position in shares of STERIS by 9.1% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 5,439,349 shares of the medical equipment provider’s stock valued at $1,232,828,000 after buying an additional 452,146 shares during the period. Generation Investment Management LLP lifted its holdings in STERIS by 5.4% in the first quarter. Generation Investment Management LLP now owns 3,354,545 shares of the medical equipment provider’s stock valued at $760,308,000 after acquiring an additional 170,392 shares during the last quarter. Orbis Allan Gray Ltd acquired a new stake in STERIS during the first quarter worth $349,950,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in STERIS by 55.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,520,479 shares of the medical equipment provider’s stock valued at $344,617,000 after purchasing an additional 540,999 shares during the period. Hedge funds and other institutional investors own 94.69% of the company’s stock.

Insider Buying and Selling

In related news, CAO Karen L. Burton sold 7,900 shares of STERIS stock in a transaction on Monday, August 11th. The stock was sold at an average price of $241.73, for a total value of $1,909,667.00. Following the completion of the transaction, the chief accounting officer directly owned 5,994 shares in the company, valued at approximately $1,448,929.62. This trade represents a 56.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Renato Tamaro sold 3,204 shares of the company’s stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $249.24, for a total value of $798,564.96. Following the sale, the vice president owned 7,221 shares in the company, valued at approximately $1,799,762.04. This trade represents a 30.73% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 18,709 shares of company stock valued at $4,546,940 in the last three months. 1.07% of the stock is currently owned by insiders.

STERIS Stock Up 0.4%

Shares of NYSE:STE opened at $242.35 on Friday. The firm has a market capitalization of $23.87 billion, a PE ratio of 37.11 and a beta of 1.01. STERIS plc has a 1 year low of $200.98 and a 1 year high of $253.00. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.22 and a quick ratio of 1.53. The firm’s 50-day moving average is $242.84 and its two-hundred day moving average is $235.12.

STERIS (NYSE:STE) last posted its quarterly earnings data on Wednesday, August 6th. The medical equipment provider reported $2.34 EPS for the quarter, beating the consensus estimate of $2.32 by $0.02. STERIS had a net margin of 11.61% and a return on equity of 14.17%. The business had revenue of $1.40 billion during the quarter, compared to analyst estimates of $1.36 billion. During the same quarter last year, the firm posted $2.03 earnings per share. The business’s revenue for the quarter was up 8.8% compared to the same quarter last year. Analysts predict that STERIS plc will post 9.08 EPS for the current year.

STERIS Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 26th. Shareholders of record on Thursday, September 4th were paid a $0.63 dividend. This represents a $2.52 annualized dividend and a dividend yield of 1.0%. This is a positive change from STERIS’s previous quarterly dividend of $0.57. The ex-dividend date was Thursday, September 4th. STERIS’s payout ratio is presently 38.59%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on STE. KeyCorp increased their price target on STERIS from $277.00 to $288.00 and gave the stock an “overweight” rating in a report on Tuesday, July 22nd. Wall Street Zen raised shares of STERIS from a “buy” rating to a “strong-buy” rating in a research note on Sunday, September 14th. Finally, Morgan Stanley boosted their price target on shares of STERIS from $276.00 to $295.00 and gave the company an “overweight” rating in a research note on Friday, August 8th. Six investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, STERIS has an average rating of “Moderate Buy” and a consensus target price of $273.50.

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.