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

Several other institutional investors and hedge funds have also added to or reduced their stakes in STE. Grove Bank & Trust boosted 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 valued at $33,000 after buying an additional 142 shares in the last quarter. Zions Bancorporation National Association UT bought a new position in shares of STERIS in the 1st quarter worth about $37,000. ORG Wealth Partners LLC purchased a new position in STERIS during the 1st quarter valued at about $43,000. Golden State Wealth Management LLC lifted its position in STERIS by 503.0% during the 1st quarter. Golden State Wealth Management LLC now owns 199 shares of the medical equipment provider's stock valued at $45,000 after acquiring an additional 166 shares during the period. Finally, Costello Asset Management INC bought a new stake in STERIS during the first quarter worth about $45,000. Hedge funds and other institutional investors own 94.69% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on STE shares. Wall Street Zen raised shares of STERIS from a "buy" rating to a "strong-buy" rating in a research note on Saturday, August 9th. Jefferies Financial Group began coverage on STERIS in a research note on Thursday, May 29th. They issued a "hold" rating and a $263.00 price target on the stock. JMP Securities raised their price objective on STERIS from $265.00 to $280.00 and gave the company a "market outperform" rating in a research report on Friday, May 16th. Morgan Stanley lifted their price objective on STERIS from $276.00 to $295.00 and gave the company an "overweight" rating in a research note on Friday, August 8th. Finally, KeyCorp boosted their target price on STERIS from $277.00 to $288.00 and gave the stock 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 company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $273.50.

Insider Activity

In other STERIS news, Director Mohsen Sohi sold 4,110 shares of the company's stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $241.96, for a total transaction of $994,455.60. Following the completion of the sale, the director directly 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Cynthia L. Feldmann sold 3,495 shares of the stock in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $241.56, for a total transaction of $844,252.20. Following the completion of the transaction, the director owned 705 shares in the company, valued at $170,299.80. The trade was a 83.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 36,335 shares of company stock worth $8,822,302. Insiders own 1.07% of the company's stock.

STERIS Stock Up 1.7%

Shares of STE stock traded up $4.2320 during mid-day trading on Friday, hitting $251.7320. The company's stock had a trading volume of 375,557 shares, compared to its average volume of 556,042. The stock has a market cap of $24.79 billion, a price-to-earnings ratio of 38.55 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 plc has a 52-week low of $200.98 and a 52-week high of $252.79. The business has a 50-day moving average price of $234.96 and a 200 day moving average price of $230.51.

STERIS (NYSE:STE - Get Free Report) last posted its earnings results on Wednesday, August 6th. The medical equipment provider reported $2.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.32 by $0.02. The business had revenue of $1.40 billion for the quarter, compared to analysts' expectations of $1.36 billion. STERIS had a net margin of 11.61% and a return on equity of 14.17%. The business's revenue for the quarter was up 8.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.03 EPS. Research analysts predict that STERIS plc will post 9.08 EPS for the current fiscal year.

STERIS Increases Dividend

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

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.