Strong Tower Advisory Services Acquires 2,989 Shares of STERIS plc (NYSE:STE)

Strong Tower Advisory Services lifted its position in shares of STERIS plc (NYSE:STE - Free Report) by 30.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 12,760 shares of the medical equipment provider's stock after purchasing an additional 2,989 shares during the period. Strong Tower Advisory Services' holdings in STERIS were worth $2,715,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Avalon Trust Co bought a new position in shares of STERIS during the fourth quarter valued at about $30,000. Human Investing LLC purchased a new stake in STERIS during the fourth quarter worth about $31,000. Anfield Capital Management LLC increased its holdings in STERIS by 100.0% during the fourth quarter. Anfield Capital Management LLC now owns 182 shares of the medical equipment provider's stock worth $37,000 after buying an additional 91 shares during the last quarter. Manchester Capital Management LLC increased its holdings in STERIS by 182.7% during the fourth quarter. Manchester Capital Management LLC now owns 212 shares of the medical equipment provider's stock worth $44,000 after buying an additional 137 shares during the last quarter. Finally, Brown Brothers Harriman & Co. increased its holdings in STERIS by 66.7% during the fourth quarter. Brown Brothers Harriman & Co. now owns 220 shares of the medical equipment provider's stock worth $45,000 after buying an additional 88 shares during the last quarter. 94.69% of the stock is owned by institutional investors.

STERIS Price Performance

Shares of STE stock traded up $1.53 during trading hours on Thursday, reaching $243.63. The stock had a trading volume of 222,488 shares, compared to its average volume of 545,081. The stock's fifty day simple moving average is $229.18 and its 200 day simple moving average is $221.22. The company has a current ratio of 2.13, a quick ratio of 1.40 and a debt-to-equity ratio of 0.32. STERIS plc has a 12 month low of $200.98 and a 12 month high of $252.79. The firm has a market capitalization of $23.94 billion, a PE ratio of 51.73 and a beta of 0.96.

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

STERIS Dividend Announcement

The business 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 dividend payout ratio is presently 36.77%.

Insiders Place Their Bets

In other STERIS news, SVP Cary L. Majors sold 12,828 shares of the business's stock in a transaction that occurred on 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 completion of the transaction, the senior vice president now owns 11,372 shares of the company's stock, valued at $2,843,909.76. The trade was a 53.01% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 1.14% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. Jefferies Financial Group assumed coverage on shares of STERIS in a report on Thursday, May 29th. They set a "hold" rating and a $263.00 price objective for the company. Needham & Company LLC reiterated a "hold" rating on shares of STERIS in a research note on Monday, April 7th. Wall Street Zen downgraded shares of STERIS from a "strong-buy" rating to a "buy" rating in a research note on Friday, May 30th. Citigroup reiterated an "outperform" rating on shares of STERIS in a research note on Friday, May 16th. Finally, Morgan Stanley lifted their target price on shares of STERIS from $240.00 to $260.00 and gave the stock an "equal weight" rating in a research note on Monday, May 19th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $263.83.

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.