Aprio Wealth Management LLC Makes New $295,000 Investment in STERIS plc $STE

Key Points

• Aprio Wealth Management LLC made a $295,000 investment by acquiring 1,303 shares of STERIS plc in the first quarter of 2023.
• Multiple institutional investors have increased their stakes in STERIS, with Adage Capital Partners growing its position by 112.6%, now holding shares valued at over $20 million.
• STERIS announced an increase in its quarterly dividend to $0.63 per share, reflecting a positive change from the previous $0.57 dividend.

Aprio Wealth Management LLC bought a new position in shares of STERIS plc (NYSE:STE - Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund bought 1,303 shares of the medical equipment provider's stock, valued at approximately $295,000.

Other institutional investors have also made changes to their positions in the company. Grove Bank & Trust increased its holdings in shares of STERIS by 4,733.3% during the 1st quarter. Grove Bank & Trust now owns 145 shares of the medical equipment provider's stock worth $33,000 after acquiring an additional 142 shares during the last quarter. Zions Bancorporation National Association UT acquired a new position in shares of STERIS during the 1st quarter worth approximately $37,000. ORG Wealth Partners LLC acquired a new position in shares of STERIS during the 1st quarter worth approximately $43,000. Golden State Wealth Management LLC increased its holdings in shares of STERIS by 503.0% during the 1st quarter. Golden State Wealth Management LLC now owns 199 shares of the medical equipment provider's stock worth $45,000 after acquiring an additional 166 shares during the last quarter. Finally, Costello Asset Management INC acquired a new position in shares of STERIS during the 1st quarter worth approximately $45,000. 94.69% of the stock is owned by institutional investors and hedge funds.

STERIS Price Performance

Shares of NYSE:STE traded up $1.65 during trading on Friday, reaching $245.04. 331,177 shares of the company traded hands, compared to its average volume of 418,598. The company's 50 day moving average is $236.45 and its two-hundred day moving average is $232.32. The firm has a market capitalization of $24.13 billion, a PE ratio of 37.53 and a beta of 0.95. The company has a quick ratio of 1.53, a current ratio of 2.22 and a debt-to-equity ratio of 0.27. STERIS plc has a 52 week low of $200.98 and a 52 week high of $252.79.

STERIS (NYSE:STE - Get Free Report) last released its earnings results on Wednesday, August 6th. The medical equipment provider reported $2.34 earnings per share for the quarter, beating analysts' consensus estimates of $2.32 by $0.02. The firm had revenue of $1.40 billion during the quarter, compared to the consensus estimate of $1.36 billion. STERIS had a return on equity of 14.17% and a net margin of 11.61%.The company's revenue was up 8.8% compared to the same quarter last year. During the same period in the prior year, the company posted $2.03 EPS. As a group, sell-side analysts predict that STERIS plc will post 9.08 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 26th. Stockholders of record on Thursday, September 4th will be given a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date is Thursday, September 4th. This is a positive change from STERIS's previous quarterly dividend of $0.57. STERIS's dividend payout ratio is currently 38.59%.

Insiders Place Their Bets

In related news, CAO Karen L. Burton sold 7,900 shares of the company's stock in a transaction on Monday, August 11th. The stock was sold at an average price of $241.73, for a total transaction of $1,909,667.00. Following the completion of the sale, the chief accounting officer directly owned 5,994 shares in the company, valued at $1,448,929.62. This represents a 56.86% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Mohsen Sohi sold 4,110 shares of the company's stock in a transaction on Monday, August 11th. The stock was sold at an average price of $241.96, for a total value of $994,455.60. Following the sale, the director owned 22,361 shares of the company's stock, valued at approximately $5,410,467.56. This represents a 15.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 18,709 shares of company stock valued at $4,546,940 in the last quarter. Corporate insiders own 1.07% of the company's stock.

Wall Street Analysts Forecast Growth

STE has been the topic of a number of research reports. Jefferies Financial Group initiated coverage on STERIS in a report on Thursday, May 29th. They issued a "hold" rating and a $263.00 price objective on the stock. Citigroup reaffirmed an "outperform" rating on shares of STERIS in a report on Friday, May 16th. JMP Securities upped their price objective on STERIS from $265.00 to $280.00 and gave the company a "market outperform" rating in a report on Friday, May 16th. Morgan Stanley upped their price objective on STERIS from $276.00 to $295.00 and gave the company an "overweight" rating in a report on Friday, August 8th. Finally, KeyCorp upped their price objective on STERIS from $277.00 to $288.00 and gave the company an "overweight" rating in a report on Tuesday, July 22nd. Six research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $273.50.

STERIS Company 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.