Aspire Growth Partners LLC Invests $548,000 in STERIS plc $STE

Key Points

• Aspire Growth Partners LLC purchased 2,435 shares of STERIS plc, valued at approximately $548,000, indicating increased interest in the medical equipment provider's stock during the first quarter.
• STERIS recently announced a quarterly dividend increase to $0.63 per share, up from $0.57, reflecting a positive change in its financial strategy.
• According to analysts, STERIS has received a consensus rating of "Moderate Buy", with an average target price of $273.50, indicating positive growth expectations for the company.

Aspire Growth Partners LLC purchased a new stake in shares of STERIS plc (NYSE:STE - Free Report) during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 2,435 shares of the medical equipment provider's stock, valued at approximately $548,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Grove Bank & Trust raised its stake in STERIS by 4,733.3% in the first quarter. Grove Bank & Trust now owns 145 shares of the medical equipment provider's stock valued at $33,000 after purchasing an additional 142 shares in the last quarter. Zions Bancorporation National Association UT purchased a new stake in STERIS in the first quarter worth approximately $37,000. ORG Wealth Partners LLC purchased a new stake in STERIS in the first quarter worth approximately $43,000. Golden State Wealth Management LLC boosted its stake in STERIS by 503.0% in the first quarter. Golden State Wealth Management LLC now owns 199 shares of the medical equipment provider's stock worth $45,000 after buying an additional 166 shares in the last quarter. Finally, Costello Asset Management INC purchased a new stake in STERIS in the first quarter worth approximately $45,000. 94.69% of the stock is currently owned by institutional investors.

STERIS Trading Down 1.0%

STE stock traded down $2.5740 on Monday, reaching $249.2960. The company's stock had a trading volume of 91,094 shares, compared to its average volume of 592,164. The business has a fifty day simple moving average of $234.96 and a two-hundred day simple moving average of $230.62. STERIS plc has a 12-month low of $200.98 and a 12-month high of $252.79. The firm has a market cap of $24.55 billion, a PE ratio of 38.19 and a beta of 0.92. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.53 and a current ratio of 2.22.

STERIS (NYSE:STE - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The medical equipment provider reported $2.34 EPS for the quarter, topping analysts' consensus estimates of $2.32 by $0.02. The company had revenue of $1.40 billion during the quarter, compared to analyst estimates of $1.36 billion. STERIS had a return on equity of 14.17% and a net margin of 11.61%.The firm's revenue was up 8.8% on a year-over-year basis. During the same quarter last year, the firm posted $2.03 earnings per share. As a group, research analysts forecast that STERIS plc will post 9.08 EPS for the current year.

STERIS Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Thursday, September 4th will be given a dividend of $0.63 per share. This is an increase from STERIS's previous quarterly dividend of $0.57. This represents a $2.52 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend is Thursday, September 4th. STERIS's payout ratio is 34.92%.

Analyst Upgrades and Downgrades

STE has been the subject of several research reports. Morgan Stanley upped their target price on STERIS from $276.00 to $295.00 and gave the stock an "overweight" rating in a research note on Friday, August 8th. Wall Street Zen raised STERIS from a "buy" rating to a "strong-buy" rating in a research note on Saturday, August 9th. KeyCorp upped their target price on STERIS from $277.00 to $288.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 22nd. Stephens restated an "overweight" rating and issued a $250.00 target price on shares of STERIS in a report on Thursday, May 15th. Finally, Jefferies Financial Group began coverage on shares of STERIS in a report on Thursday, May 29th. They issued a "hold" rating and a $263.00 target price on the stock. Six research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $273.50.

Insider Buying and Selling at STERIS

In other STERIS news, VP Renato Tamaro sold 3,204 shares of the firm's stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $249.24, for a total transaction of $798,564.96. Following the completion of the transaction, the vice president owned 7,221 shares of the company's stock, valued at approximately $1,799,762.04. This trade represents a 30.73% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Karen L. Burton sold 7,900 shares of the firm's stock in a transaction on Monday, August 11th. The shares were sold at an average price of $241.73, for a total value of $1,909,667.00. Following the transaction, the chief accounting officer directly owned 5,994 shares of the company's stock, valued at $1,448,929.62. This represents a 56.86% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 36,335 shares of company stock valued at $8,822,302. Company insiders own 1.07% of the company's stock.

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.