Balefire LLC Invests $258,000 in STERIS plc $STE

Key Points

• Balefire LLC invested approximately $258,000 in STERIS plc, acquiring 1,074 shares during the second quarter, as reported in their recent SEC filing.
• Analysts have set a new consensus target price of $273.50 for STERIS, with a majority rating of "Moderate Buy," and notable upgrades including a price target increase to $295.00 from Morgan Stanley.
• STERIS announced a quarterly dividend increase to $0.63, yielding 1.0%, reflecting the company’s strong financial performance and commitment to returning value to shareholders.

Balefire LLC bought a new position in shares of STERIS plc (NYSE:STE - Free Report) during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor bought 1,074 shares of the medical equipment provider's stock, valued at approximately $258,000.

A number of other hedge funds also recently added to or reduced their stakes in the business. Geneos Wealth Management Inc. increased its position in shares of STERIS by 416.0% during the first quarter. Geneos Wealth Management Inc. now owns 129 shares of the medical equipment provider's stock worth $29,000 after acquiring an additional 104 shares during the period. Grove Bank & Trust grew its stake in 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 purchasing an additional 142 shares in the last quarter. Zions Bancorporation National Association UT acquired a new position in STERIS during the 1st quarter worth $37,000. ORG Wealth Partners LLC purchased a new stake in STERIS during the 1st quarter worth about $43,000. Finally, Golden State Wealth Management LLC raised its position in STERIS by 503.0% in the 1st quarter. Golden State Wealth Management LLC now owns 199 shares of the medical equipment provider's stock valued at $45,000 after purchasing an additional 166 shares in the last quarter. 94.69% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at STERIS

In other STERIS news, Director Cynthia L. Feldmann sold 3,495 shares of STERIS 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 transaction, the director owned 705 shares of the company's stock, valued at $170,299.80. The trade was a 83.21% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Mohsen Sohi sold 4,110 shares of the stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $241.96, for a total value of $994,455.60. Following the completion of the sale, the director directly owned 22,361 shares of the company's stock, valued at $5,410,467.56. The trade was a 15.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 18,709 shares of company stock worth $4,546,940 over the last three months. 1.07% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Wall Street Zen upgraded STERIS from a "buy" rating to a "strong-buy" rating in a research note on Sunday, September 14th. Jefferies Financial Group started coverage on shares of STERIS in a research note on Thursday, May 29th. They issued a "hold" rating and a $263.00 price target for the company. KeyCorp boosted their price target on shares of STERIS from $277.00 to $288.00 and gave the stock an "overweight" rating in a report on Tuesday, July 22nd. Finally, Morgan Stanley raised their price objective on shares of STERIS from $276.00 to $295.00 and gave the company an "overweight" rating in a report on Friday, August 8th. Six equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $273.50.

STERIS Stock Up 0.4%

STERIS stock traded up $1.01 during mid-day trading on Monday, hitting $249.79. The company had a trading volume of 363,757 shares, compared to its average volume of 533,518. 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 1 year low of $200.98 and a 1 year high of $253.00. The business has a fifty day moving average of $239.66 and a 200 day moving average of $234.19. The stock has a market cap of $24.60 billion, a price-to-earnings ratio of 38.25 and a beta of 0.95.

STERIS (NYSE:STE - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The medical equipment provider reported $2.34 earnings per share for the quarter, topping the consensus estimate of $2.32 by $0.02. The business had revenue of $1.40 billion during the quarter, compared to the consensus estimate of $1.36 billion. STERIS had a net margin of 11.61% and a return on equity of 14.17%. The company's revenue was up 8.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.03 EPS. On average, sell-side analysts expect that STERIS plc will post 9.08 earnings per share for the current fiscal 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 issued a dividend of $0.63 per share. The ex-dividend date of this dividend is Thursday, September 4th. This is a positive change from STERIS's previous quarterly dividend of $0.57. This represents a $2.52 annualized dividend and a dividend yield of 1.0%. STERIS's dividend payout ratio is 38.59%.

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.