Sequoia Financial Advisors LLC Buys 1,397 Shares of STERIS plc $STE

Key Points

• Sequoia Financial Advisors LLC increased its stake in STERIS plc by 6.7%, acquiring an additional 1,397 shares, bringing its total to 22,155 shares valued at $5,322,000.
• Wall Street analysts have upgraded STERIS shares to a "strong-buy" rating, with several firms, including Morgan Stanley and KeyCorp, raising their price targets to between $288.00 and $295.00.
• STERIS has declared an increased quarterly dividend of $0.63, raising its annualized payout to $2.52, reflecting a dividend yield of 1.1%.

Sequoia Financial Advisors LLC grew its stake in STERIS plc (NYSE:STE - Free Report) by 6.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,155 shares of the medical equipment provider's stock after acquiring an additional 1,397 shares during the period. Sequoia Financial Advisors LLC's holdings in STERIS were worth $5,322,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Geneos Wealth Management Inc. grew its stake in STERIS by 416.0% in the 1st 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 in the last quarter. Grove Bank & Trust grew its stake in 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. Zions Bancorporation National Association UT bought a new position in STERIS in the 1st quarter worth about $37,000. ORG Wealth Partners LLC bought a new position in STERIS in the 1st quarter worth about $43,000. Finally, Golden State Wealth Management LLC boosted its stake in shares of STERIS by 503.0% during the first 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.

Wall Street Analyst Weigh In

STE has been the topic of a number of recent research reports. Wall Street Zen upgraded shares of STERIS from a "buy" rating to a "strong-buy" rating in a research note on Sunday, September 14th. Morgan Stanley increased their price objective on shares of STERIS from $276.00 to $295.00 and gave the company an "overweight" rating in a research note on Friday, August 8th. Weiss Ratings reiterated a "buy (b)" rating on shares of STERIS in a research note on Tuesday. Finally, KeyCorp increased their price objective on shares of STERIS from $277.00 to $288.00 and gave the company an "overweight" rating in a research note on Tuesday, July 22nd. Seven investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $273.50.

Insiders Place Their Bets

In other STERIS news, Director Cynthia L. Feldmann sold 3,495 shares of the firm's stock in a transaction on Monday, August 11th. The shares were sold at an average price of $241.56, for a total value of $844,252.20. Following the completion of the transaction, the director owned 705 shares of the company's stock, valued at approximately $170,299.80. This trade represents a 83.21% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Daniel A. Carestio sold 159 shares of the firm's stock in a transaction on Monday, October 6th. The stock was sold at an average price of $241.82, for a total transaction of $38,449.38. Following the completion of the transaction, the chief executive officer directly owned 51,096 shares of the company's stock, valued at approximately $12,356,034.72. This represents a 0.31% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 18,868 shares of company stock valued at $4,585,389. Corporate insiders own 1.07% of the company's stock.

STERIS Trading Up 1.0%

NYSE:STE opened at $237.92 on Wednesday. STERIS plc has a 52 week low of $200.98 and a 52 week high of $253.00. The firm has a 50 day moving average of $244.75 and a 200 day moving average of $236.07. The company has a quick ratio of 1.53, a current ratio of 2.22 and a debt-to-equity ratio of 0.27. The stock has a market capitalization of $23.43 billion, a price-to-earnings ratio of 36.43 and a beta of 1.01.

STERIS (NYSE:STE - Get Free Report) last posted its earnings results on Wednesday, August 6th. The medical equipment provider reported $2.34 EPS for the quarter, beating analysts' consensus estimates of $2.32 by $0.02. The company had revenue of $1.40 billion during the quarter, compared to analysts' expectations of $1.36 billion. STERIS had a net margin of 11.61% and a return on equity of 14.17%. STERIS's revenue for the quarter was up 8.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.03 earnings per share. As a group, sell-side analysts anticipate 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 was paid on Friday, September 26th. Shareholders of record on Thursday, September 4th were issued a $0.63 dividend. This is an increase from STERIS's previous quarterly dividend of $0.57. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend was Thursday, September 4th. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.