Johnson Investment Counsel Inc. Buys 1,200 Shares of STERIS plc (NYSE:STE)

Johnson Investment Counsel Inc. increased its stake in shares of STERIS plc (NYSE:STE) by 85.9% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,597 shares of the medical equipment provider’s stock after buying an additional 1,200 shares during the quarter. Johnson Investment Counsel Inc.’s holdings in STERIS were worth $570,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. First Personal Financial Services bought a new position in shares of STERIS during the 1st quarter worth approximately $25,000. J.Safra Asset Management Corp lifted its position in shares of STERIS by 77.9% during the 1st quarter. J.Safra Asset Management Corp now owns 121 shares of the medical equipment provider’s stock worth $27,000 after buying an additional 53 shares during the period. Quent Capital LLC lifted its position in shares of STERIS by 112.7% during the 1st quarter. Quent Capital LLC now owns 134 shares of the medical equipment provider’s stock worth $30,000 after buying an additional 71 shares during the period. Headlands Technologies LLC bought a new position in shares of STERIS during the 1st quarter worth approximately $36,000. Finally, Pingora Partners LLC bought a new position in shares of STERIS during the 4th quarter worth approximately $37,000. Institutional investors own 94.69% of the company’s stock.

STERIS Stock Performance

Shares of NYSE:STE opened at $244.83 on Friday. The stock has a market capitalization of $24.15 billion, a P/E ratio of 64.09 and a beta of 0.83. STERIS plc has a 1-year low of $195.47 and a 1-year high of $248.24. The company has a current ratio of 2.33, a quick ratio of 1.49 and a debt-to-equity ratio of 0.35. The business has a 50-day moving average price of $234.02 and a two-hundred day moving average price of $225.24.

STERIS (NYSE:STE) last announced its quarterly earnings data on Tuesday, August 6th. The medical equipment provider reported $2.14 earnings per share for the quarter, topping the consensus estimate of $1.98 by $0.16. The firm had revenue of $1.28 billion during the quarter, compared to analysts’ expectations of $1.27 billion. STERIS had a return on equity of 13.85% and a net margin of 7.36%. The company’s quarterly revenue was down .4% compared to the same quarter last year. During the same period in the previous year, the business posted $2.00 EPS. Equities analysts predict that STERIS plc will post 9.05 earnings per share for the current year.

STERIS Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 20th. Stockholders of record on Thursday, September 5th will be given a dividend of $0.57 per share. This is a positive change from STERIS’s previous quarterly dividend of $0.52. This represents a $2.28 annualized dividend and a dividend yield of 0.93%. The ex-dividend date of this dividend is Thursday, September 5th. STERIS’s payout ratio is presently 59.69%.

Insider Transactions at STERIS

In other news, CFO Michael J. Tokich sold 23,332 shares of the business’s 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 transaction, the chief financial officer now directly owns 42,930 shares in the company, valued at approximately $10,603,710. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, CFO Michael J. Tokich sold 23,332 shares of the business’s 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 transaction, the chief financial officer now directly owns 42,930 shares in the company, valued at approximately $10,603,710. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Christopher S. Holland sold 473 shares of the business’s 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 transaction, the director now owns 582 shares of the company’s stock, valued at $139,493.76. The disclosure for this sale can be found here. Corporate insiders own 1.14% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.