Benjamin Edwards Inc. Increases Stock Position in STERIS plc (NYSE:STE)

Key Points

• Benjamin Edwards Inc. increased its shareholding in STERIS plc by 17.5%, acquiring an additional 20,142 shares, bringing its total to 135,003 shares valued at approximately $30.6 million.
• STERIS recently declared a quarterly dividend of $0.63, raising its annual dividend yield to 1.0%, up from the previous quarterly payout of $0.57.
• Several analysts have raised their price targets for STERIS, with JMP Securities setting a new target of $280.00, reflecting a positive outlook on the company's performance.

Benjamin Edwards Inc. lifted its position in shares of STERIS plc (NYSE:STE - Free Report) by 17.5% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 135,003 shares of the medical equipment provider's stock after buying an additional 20,142 shares during the quarter. Benjamin Edwards Inc. owned approximately 0.14% of STERIS worth $30,599,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of STE. Grove Bank & Trust boosted its stake in shares of STERIS by 4,733.3% in the first 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 period. Zions Bancorporation National Association UT bought a new position in STERIS in the 1st quarter worth approximately $37,000. ORG Wealth Partners LLC purchased a new stake in STERIS during the 1st quarter valued at approximately $43,000. Golden State Wealth Management LLC lifted its holdings in shares of 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 bought a new position in shares of STERIS during the first quarter worth $45,000. Institutional investors own 94.69% of the company's stock.

Insider Buying and Selling at STERIS

In other STERIS news, SVP Cary L. Majors sold 12,828 shares of the company's stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $250.08, for a total value of $3,208,026.24. Following the transaction, the senior vice president directly owned 11,372 shares in the company, valued at $2,843,909.76. This represents a 53.01% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Daniel A. Carestio sold 17,626 shares of the stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $242.56, for a total value of $4,275,362.56. Following the completion of the transaction, the chief executive officer directly owned 51,385 shares in the company, valued at approximately $12,463,945.60. This trade represents a 25.54% decrease in their position. The disclosure for this sale can be found here. 1.07% of the stock is currently owned by company insiders.

STERIS Trading Up 0.9%

Shares of NYSE:STE traded up $2.10 during trading on Tuesday, hitting $243.72. The company had a trading volume of 341,082 shares, compared to its average volume of 605,158. The stock has a market cap of $23.98 billion, a price-to-earnings ratio of 37.32 and a beta of 0.92. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.22 and a quick ratio of 1.53. The company has a fifty day simple moving average of $234.13 and a two-hundred day simple moving average of $228.99. STERIS plc has a one year low of $200.98 and a one year high of $252.79.

STERIS (NYSE:STE - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The medical equipment provider reported $2.34 earnings per share for the quarter, beating the consensus estimate of $2.32 by $0.02. The company had revenue of $1.40 billion for 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%. STERIS's quarterly revenue was up 8.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.03 EPS. As a group, equities analysts forecast that STERIS plc will post 9.08 earnings per share for the current year.

STERIS Increases Dividend

The firm 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 annualized dividend and a dividend yield of 1.0%. This is a positive change from STERIS's previous quarterly dividend of $0.57. The ex-dividend date is Thursday, September 4th. STERIS's dividend payout ratio is 34.92%.

Analyst Upgrades and Downgrades

STE has been the topic of a number of research reports. KeyCorp lifted their price target on shares of STERIS from $277.00 to $288.00 and gave the company an "overweight" rating in a report on Tuesday, July 22nd. Citigroup reaffirmed an "outperform" rating on shares of STERIS in a report on Friday, May 16th. Stephens reissued an "overweight" rating and set a $250.00 price target on shares of STERIS in a research note on Thursday, May 15th. Morgan Stanley raised their price target on STERIS from $276.00 to $295.00 and gave the company an "overweight" rating in a report on Friday. Finally, Jefferies Financial Group initiated coverage on STERIS in a report on Thursday, May 29th. They set a "hold" rating and a $263.00 price objective on the stock. Two analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, STERIS presently has a consensus rating of "Moderate Buy" and a consensus target price of $273.50.

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.