Oppenheimer Asset Management Inc. Acquires 665 Shares of STERIS plc (NYSE:STE)

Oppenheimer Asset Management Inc. grew its holdings in STERIS plc (NYSE:STE) by 5.6% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 12,555 shares of the medical equipment provider’s stock after acquiring an additional 665 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in STERIS were worth $2,756,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Russell Investments Group Ltd. boosted its position in shares of STERIS by 8.3% in the first quarter. Russell Investments Group Ltd. now owns 58,841 shares of the medical equipment provider’s stock valued at $13,235,000 after acquiring an additional 4,494 shares during the period. State Board of Administration of Florida Retirement System lifted its position in STERIS by 3.2% in the first quarter. State Board of Administration of Florida Retirement System now owns 106,346 shares of the medical equipment provider’s stock worth $23,909,000 after purchasing an additional 3,342 shares during the period. Caden Capital Partners LP lifted its position in STERIS by 80.0% in the fourth quarter. Caden Capital Partners LP now owns 82,312 shares of the medical equipment provider’s stock worth $18,096,000 after purchasing an additional 36,576 shares during the period. Diversify Advisory Services LLC bought a new position in STERIS in the first quarter worth $903,000. Finally, Perpetual Ltd lifted its position in STERIS by 9.3% in the first quarter. Perpetual Ltd now owns 40,571 shares of the medical equipment provider’s stock worth $9,121,000 after purchasing an additional 3,437 shares during the period. 94.69% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

Insider Activity

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 sale, the director now directly owns 582 shares in the company, valued at $139,493.76. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 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 sale, the director now directly owns 582 shares in the company, valued at $139,493.76. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, 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 sale, the chief financial officer now owns 42,930 shares of the company’s stock, valued at $10,603,710. The disclosure for this sale can be found here. 1.14% of the stock is currently owned by corporate insiders.

STERIS Stock Performance

Shares of NYSE:STE opened at $241.68 on Wednesday. STERIS plc has a twelve month low of $195.47 and a twelve month high of $248.24. The firm has a market cap of $23.89 billion, a PE ratio of 63.27 and a beta of 0.83. 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 business has a fifty day moving average of $235.06 and a 200-day moving average of $225.33.

STERIS (NYSE:STE) last announced its earnings results on Tuesday, August 6th. The medical equipment provider reported $2.14 earnings per share for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $1.27 billion. During the same period last year, the company posted $2.00 earnings per share. The firm’s quarterly revenue was down .4% compared to the same quarter last year. On average, equities research analysts predict that STERIS plc will post 9.05 EPS for the current fiscal year.

STERIS Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 20th. Stockholders of record on Thursday, September 5th will be paid a $0.57 dividend. The ex-dividend date is Thursday, September 5th. This is a positive change from STERIS’s previous quarterly dividend of $0.52. This represents a $2.28 dividend on an annualized basis and a dividend yield of 0.94%. STERIS’s dividend payout ratio (DPR) is 59.69%.

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.