2,970 Shares in STERIS plc (NYSE:STE) Purchased by OneAscent Investment Solutions LLC

Key Points

• OneAscent Investment Solutions LLC acquired a new stake in STERIS plc worth $673,000, representing approximately 0.8% of its portfolio, making it the firm's 26th largest position.
• Several institutional investors increased their stakes in STERIS during the fourth quarter, with Sterling Capital Management raising its holdings by 55.4% to 5,843 shares valued at $1,201,000.
• STERIS recently announced a quarterly dividend increase from $0.57 to $0.63, representing a 1.0% yield, with a dividend payout ratio of 34.92%.

OneAscent Investment Solutions LLC acquired a new position in shares of STERIS plc (NYSE:STE - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 2,970 shares of the medical equipment provider's stock, valued at approximately $673,000. STERIS comprises about 0.8% of OneAscent Investment Solutions LLC's portfolio, making the stock its 26th largest holding.

Other hedge funds also recently made changes to their positions in the company. QRG Capital Management Inc. lifted its holdings in shares of STERIS by 122.5% during the 1st quarter. QRG Capital Management Inc. now owns 2,832 shares of the medical equipment provider's stock worth $642,000 after acquiring an additional 1,559 shares during the last quarter. Allianz Asset Management GmbH raised its position in STERIS by 31.9% in the 1st quarter. Allianz Asset Management GmbH now owns 102,488 shares of the medical equipment provider's stock worth $23,229,000 after purchasing an additional 24,809 shares during the period. Dynamic Advisor Solutions LLC raised its position in STERIS by 23.6% in the 1st quarter. Dynamic Advisor Solutions LLC now owns 1,203 shares of the medical equipment provider's stock worth $273,000 after purchasing an additional 230 shares during the period. 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 worth $45,000 after purchasing an additional 166 shares during the period. Finally, Vontobel Holding Ltd. raised its position in STERIS by 17.1% in the 1st quarter. Vontobel Holding Ltd. now owns 2,071 shares of the medical equipment provider's stock worth $469,000 after purchasing an additional 302 shares during the period. 94.69% of the stock is owned by institutional investors.

Insider Activity at STERIS

In related news, CEO Daniel A. Carestio sold 17,626 shares of the business's stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $242.56, for a total transaction 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Cary L. Majors sold 12,828 shares of the business's 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 transaction, the senior vice president owned 11,372 shares in the company, valued at $2,843,909.76. This represents a 53.01% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 45,959 shares of company stock valued at $11,231,764 over the last three months. Corporate insiders own 1.07% of the company's stock.

STERIS Trading Down 0.3%

Shares of STE stock traded down $0.63 during mid-day trading on Friday, reaching $245.51. The stock had a trading volume of 466,774 shares, compared to its average volume of 661,603. The stock's 50-day moving average price is $234.34 and its two-hundred day moving average price is $229.61. STERIS plc has a 52-week low of $200.98 and a 52-week high of $252.79. The firm has a market capitalization of $24.18 billion, a PE ratio of 37.60 and a beta of 0.92. The company has a current ratio of 2.22, a quick ratio of 1.53 and a debt-to-equity ratio of 0.27.

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

STERIS Increases Dividend

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

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. JMP Securities lifted their target price on shares of STERIS from $265.00 to $280.00 and gave the stock a "market outperform" rating in a research report on Friday, May 16th. Citigroup reiterated an "outperform" rating on shares of STERIS in a research report on Friday, May 16th. KeyCorp lifted their target price on shares of STERIS from $277.00 to $288.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 22nd. Morgan Stanley lifted their target price on shares of STERIS from $276.00 to $295.00 and gave the stock an "overweight" rating in a research report on Friday, August 8th. Finally, Wall Street Zen upgraded shares of STERIS from a "buy" rating to a "strong-buy" rating in a research report on Saturday, August 9th. Two investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $273.50.

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.