Diversify Wealth Management LLC Boosts Stock Holdings in STERIS plc (NYSE:STE)

Diversify Wealth Management LLC lifted its position in shares of STERIS plc (NYSE:STE - Free Report) by 23.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,373 shares of the medical equipment provider's stock after acquiring an additional 1,379 shares during the quarter. Diversify Wealth Management LLC's holdings in STERIS were worth $1,652,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Avalon Trust Co bought a new position in shares of STERIS in the 4th quarter worth about $30,000. Grove Bank & Trust raised its position in shares of STERIS by 4,733.3% in the 1st quarter. Grove Bank & Trust now owns 145 shares of the medical equipment provider's stock worth $33,000 after acquiring an additional 142 shares in the last quarter. ORG Wealth Partners LLC bought a new position in shares of STERIS in the 1st quarter worth about $43,000. Brown Brothers Harriman & Co. raised its position in shares of STERIS by 66.7% in the 4th quarter. Brown Brothers Harriman & Co. now owns 220 shares of the medical equipment provider's stock worth $45,000 after acquiring an additional 88 shares in the last quarter. Finally, Golden State Wealth Management LLC raised its position in shares of STERIS by 503.0% in the 1st quarter. Golden State Wealth Management LLC now owns 199 shares of the medical equipment provider's stock worth $45,000 after acquiring an additional 166 shares in the last quarter. Institutional investors and hedge funds own 94.69% of the company's stock.

Insider Buying and Selling

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

STERIS Stock Up 1.3%

STE traded up $3.00 during midday trading on Tuesday, reaching $228.79. 849,984 shares of the company were exchanged, compared to its average volume of 553,707. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.39 and a current ratio of 1.96. The company's fifty day moving average price is $238.56 and its 200 day moving average price is $226.13. The company has a market cap of $22.51 billion, a price-to-earnings ratio of 36.90 and a beta of 0.92. 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 issued its quarterly earnings data on Wednesday, May 14th. The medical equipment provider reported $2.74 EPS for the quarter, topping analysts' consensus estimates of $2.59 by $0.15. The firm had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.47 billion. STERIS had a return on equity of 14.21% and a net margin of 11.26%. The company's revenue for the quarter was up 5.7% on a year-over-year basis. During the same period in the previous year, the company posted $2.58 EPS. As a group, analysts expect that STERIS plc will post 9.08 EPS for the current year.

STERIS Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 26th. Stockholders of record on Tuesday, June 10th were paid a $0.57 dividend. The ex-dividend date was Tuesday, June 10th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 1.00%. STERIS's payout ratio is presently 36.77%.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. Stephens reissued an "overweight" rating and issued a $250.00 price objective on shares of STERIS in a research report on Thursday, May 15th. Wall Street Zen raised STERIS from a "buy" rating to a "strong-buy" rating in a research report on Saturday, June 14th. Citigroup reaffirmed an "outperform" rating on shares of STERIS in a research report on Friday, May 16th. Morgan Stanley raised STERIS from an "equal weight" rating to an "overweight" rating and boosted their target price for the company from $260.00 to $276.00 in a research report on Tuesday. Finally, Jefferies Financial Group initiated coverage on STERIS in a research report on Thursday, May 29th. They issued a "hold" rating and a $263.00 target price for the company. Two investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, STERIS currently has a consensus rating of "Moderate Buy" and a consensus price target of $266.50.

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.