Blue Zone Wealth Advisors LLC Purchases 2,240 Shares of STERIS plc (NYSE:STE)

Blue Zone Wealth Advisors LLC lifted its holdings in shares of STERIS plc (NYSE:STE - Free Report) by 8.7% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 28,028 shares of the medical equipment provider's stock after acquiring an additional 2,240 shares during the quarter. STERIS accounts for about 1.8% of Blue Zone Wealth Advisors LLC's holdings, making the stock its 22nd largest position. Blue Zone Wealth Advisors LLC's holdings in STERIS were worth $6,353,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the company. Congress Asset Management Co. increased its position in STERIS by 12.3% in the first quarter. Congress Asset Management Co. now owns 121,143 shares of the medical equipment provider's stock worth $27,457,000 after buying an additional 13,316 shares during the last quarter. Unique Wealth LLC bought a new stake in STERIS during the first quarter valued at $268,000. West Coast Financial LLC boosted its stake in STERIS by 3.9% during the first quarter. West Coast Financial LLC now owns 1,658 shares of the medical equipment provider's stock valued at $376,000 after buying an additional 63 shares during the period. Portside Wealth Group LLC lifted its stake in STERIS by 10.1% during the first quarter. Portside Wealth Group LLC now owns 1,363 shares of the medical equipment provider's stock worth $309,000 after purchasing an additional 125 shares during the last quarter. Finally, Park Edge Advisors LLC lifted its stake in STERIS by 1.0% during the first quarter. Park Edge Advisors LLC now owns 4,709 shares of the medical equipment provider's stock worth $1,067,000 after purchasing an additional 47 shares during the last quarter. 94.69% of the stock is owned by hedge funds and other institutional investors.

STERIS Stock Performance

Shares of NYSE:STE traded up $0.13 during midday trading on Friday, hitting $243.71. The company had a trading volume of 590,537 shares, compared to its average volume of 549,718. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.13 and a quick ratio of 1.40. The company has a market cap of $23.97 billion, a price-to-earnings ratio of 51.74 and a beta of 0.94. STERIS plc has a 12-month low of $200.98 and a 12-month high of $252.79. The company has a fifty day moving average of $230.25 and a two-hundred day moving average of $221.87.

STERIS (NYSE:STE - Get Free Report) last posted its quarterly earnings data on Wednesday, May 14th. The medical equipment provider reported $2.74 EPS for the quarter, topping the consensus estimate of $2.59 by $0.15. STERIS had a return on equity of 13.91% and a net margin of 8.66%. The firm had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.47 billion. During the same period in the prior year, the business posted $2.58 EPS. STERIS's revenue was up 5.7% on a year-over-year basis. On average, equities research analysts expect that STERIS plc will post 9.08 EPS for the current fiscal year.

STERIS Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 26th. Shareholders of record on Tuesday, June 10th will be paid a $0.57 dividend. The ex-dividend date is Tuesday, June 10th. This represents a $2.28 dividend on an annualized basis and a yield of 0.94%. STERIS's payout ratio is presently 36.77%.

Analyst Ratings Changes

Several equities research analysts have issued reports on STE shares. JMP Securities lifted their price target on STERIS from $265.00 to $280.00 and gave the stock a "market outperform" rating in a research note on Friday, May 16th. Jefferies Financial Group assumed coverage on STERIS in a report on Thursday, May 29th. They set a "hold" rating and a $263.00 price target on the stock. Needham & Company LLC reissued a "hold" rating on shares of STERIS in a research report on Monday, April 7th. Wall Street Zen cut STERIS from a "strong-buy" rating to a "buy" rating in a research report on Friday, May 30th. Finally, Morgan Stanley upped their price objective on STERIS from $240.00 to $260.00 and gave the company an "equal weight" rating in a research report on Monday, May 19th. Three analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $263.83.

Insiders Place Their Bets

In related news, CEO Daniel A. Carestio sold 17,626 shares of the stock in a transaction dated Thursday, June 5th. The shares were 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 now owns 51,385 shares of the company's stock, valued at approximately $12,463,945.60. This trade represents a 25.54% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Cary L. Majors sold 12,828 shares of the stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $250.08, for a total transaction of $3,208,026.24. Following the completion of the transaction, the senior vice president now directly owns 11,372 shares of the company's stock, valued at approximately $2,843,909.76. The trade was a 53.01% decrease in their position. The disclosure for this sale can be found here. 1.14% of the stock is currently owned by company insiders.

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.