Steward Partners Investment Advisory LLC Acquires 1,940 Shares of STERIS plc $STE

Key Points

• Steward Partners Investment Advisory LLC increased its stake in STERIS plc by 6.5%, now holding 31,865 shares valued at $7.22 million.
• STERIS has announced a quarterly dividend of $0.63, marking an increase from the previous $0.57 with a dividend yield of 1.0%.
• The company's stock currently holds a Moderate Buy rating with an average price target between $273.50 and $295.00, reflecting positive analyst sentiment.

Steward Partners Investment Advisory LLC increased its position in STERIS plc (NYSE:STE - Free Report) by 6.5% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 31,865 shares of the medical equipment provider's stock after acquiring an additional 1,940 shares during the period. Steward Partners Investment Advisory LLC's holdings in STERIS were worth $7,222,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Park Edge Advisors LLC lifted its stake in shares of STERIS by 1.0% during the 1st 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 period. Blue Trust Inc. raised its position in STERIS by 16.5% in the first quarter. Blue Trust Inc. now owns 395 shares of the medical equipment provider's stock valued at $90,000 after purchasing an additional 56 shares during the period. Taylor Frigon Capital Management LLC raised its position in STERIS by 1.0% in the first quarter. Taylor Frigon Capital Management LLC now owns 6,280 shares of the medical equipment provider's stock valued at $1,423,000 after purchasing an additional 62 shares during the period. Gallagher Fiduciary Advisors LLC raised its position in STERIS by 3.3% in the fourth quarter. Gallagher Fiduciary Advisors LLC now owns 1,970 shares of the medical equipment provider's stock valued at $405,000 after purchasing an additional 63 shares during the period. Finally, West Coast Financial LLC increased its position in shares of STERIS by 3.9% during the first quarter. West Coast Financial LLC now owns 1,658 shares of the medical equipment provider's stock worth $376,000 after acquiring an additional 63 shares during the last quarter. Institutional investors and hedge funds own 94.69% of the company's stock.

STERIS Price Performance

Shares of NYSE STE traded up $4.2320 during trading on Friday, hitting $251.7320. The company had a trading volume of 375,557 shares, compared to its average volume of 595,325. The company has a market cap of $24.79 billion, a P/E ratio of 38.55 and a beta of 0.92. STERIS plc has a 52 week low of $200.98 and a 52 week high of $252.79. The business's 50-day moving average is $234.75 and its 200 day moving average is $230.29. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.53 and a current ratio of 2.22.

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

STERIS Increases Dividend

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

Insider Activity at STERIS

In other news, Director Cynthia L. Feldmann sold 3,495 shares of the business's stock in a transaction on Monday, August 11th. The shares were sold at an average price of $241.56, for a total transaction of $844,252.20. Following the transaction, the director directly owned 705 shares in the company, valued at $170,299.80. The trade was a 83.21% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Daniel A. Carestio sold 17,626 shares of the business's stock in a transaction on 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 approximately $12,463,945.60. This represents a 25.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 36,335 shares of company stock worth $8,822,302. Insiders own 1.07% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on STE shares. Wall Street Zen raised STERIS from a "buy" rating to a "strong-buy" rating in a research report on Saturday, August 9th. Morgan Stanley boosted their price objective on STERIS from $276.00 to $295.00 and gave the company an "overweight" rating in a report on Friday, August 8th. KeyCorp boosted their price objective on STERIS from $277.00 to $288.00 and gave the company an "overweight" rating in a report on Tuesday, July 22nd. JMP Securities boosted their price objective on STERIS from $265.00 to $280.00 and gave the company a "market outperform" rating in a report on Friday, May 16th. Finally, Jefferies Financial Group began coverage on STERIS in a report on Thursday, May 29th. They set a "hold" rating and a $263.00 target price for the company. Six research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $273.50.

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.