Mitsubishi UFJ Asset Management UK Ltd. Sells 5,000 Shares of STERIS plc (NYSE:STE)

Mitsubishi UFJ Asset Management UK Ltd. lessened its holdings in STERIS plc (NYSE:STE) by 71.4% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,000 shares of the medical equipment provider’s stock after selling 5,000 shares during the period. Mitsubishi UFJ Asset Management UK Ltd.’s holdings in STERIS were worth $485,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Massachusetts Financial Services Co. MA raised its position in STERIS by 13.7% during the second quarter. Massachusetts Financial Services Co. MA now owns 6,442,805 shares of the medical equipment provider’s stock valued at $1,414,453,000 after purchasing an additional 778,613 shares during the period. Sustainable Growth Advisers LP boosted its stake 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 worth $333,988,000 after buying an additional 282,387 shares during the period. Impax Asset Management Group plc increased its position in STERIS by 29.7% during 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 during the last quarter. American Century Companies Inc. raised its stake in shares of STERIS by 1,946.3% in the second quarter. American Century Companies Inc. now owns 270,311 shares of the medical equipment provider’s stock valued at $59,344,000 after acquiring an additional 257,101 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its holdings in shares of STERIS by 7.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,738,630 shares of the medical equipment provider’s stock worth $390,880,000 after acquiring an additional 120,616 shares during the last quarter. 94.69% of the stock is currently owned by hedge funds and other institutional investors.

STERIS Stock Up 0.3 %

NYSE:STE traded up $0.65 during trading hours on Friday, reaching $225.65. The company’s stock had a trading volume of 607,791 shares, compared to its average volume of 473,642. 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 company has a market capitalization of $22.31 billion, a P/E ratio of 59.07 and a beta of 0.84. The stock has a 50 day moving average price of $235.66 and a two-hundred day moving average price of $225.94. STERIS plc has a 12 month low of $195.47 and a 12 month high of $248.24.

STERIS (NYSE:STE) last posted its earnings results on Tuesday, August 6th. The medical equipment provider reported $2.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.98 by $0.16. STERIS had a return on equity of 13.85% and a net margin of 7.36%. The company had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.27 billion. During the same quarter in the previous year, the firm earned $2.00 earnings per share. The firm’s quarterly revenue was down .4% compared to the same quarter last year. Equities analysts predict that STERIS plc will post 9.06 EPS for the current fiscal year.

STERIS Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 20th. Shareholders of record on Thursday, September 5th were issued a $0.57 dividend. The ex-dividend date was Thursday, September 5th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 1.01%. This is a boost from STERIS’s previous quarterly dividend of $0.52. STERIS’s dividend payout ratio (DPR) is currently 59.69%.

Insider Transactions at STERIS

In other STERIS 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 transaction of $5,763,004.00. Following the completion of the sale, the chief financial officer now owns 42,930 shares of the company’s stock, valued at approximately $10,603,710. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, CFO Michael J. Tokich sold 23,332 shares of the company’s 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 sale, the chief financial officer now owns 42,930 shares in the company, valued at $10,603,710. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Christopher S. Holland sold 473 shares of the business’s stock in a transaction that occurred on Thursday, August 8th. The shares were 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 directly owns 582 shares of the company’s stock, valued at $139,493.76. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.14% of the company’s stock.

Analyst Upgrades and Downgrades

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