Turning Point Benefit Group Inc. Invests $382,000 in STERIS plc $STE

Key Points

• Turning Point Benefit Group Inc. invested approximately $382,000 in shares of STERIS plc, acquiring 1,592 shares during the 2nd quarter.
• Analysts have given STERIS a generally positive outlook, with several firms upgrading their ratings and raising price targets, now averaging $273.50.
• STERIS recently increased its quarterly dividend to $0.63, representing a yield of 1.0% and a positive change from its previous dividend of $0.57.

Turning Point Benefit Group Inc. acquired a new position in shares of STERIS plc (NYSE:STE - Free Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,592 shares of the medical equipment provider's stock, valued at approximately $382,000.

A number of other hedge funds have also bought and sold shares of STE. Ashton Thomas Private Wealth LLC boosted its position in STERIS by 3.5% during the first quarter. Ashton Thomas Private Wealth LLC now owns 1,611 shares of the medical equipment provider's stock valued at $365,000 after acquiring an additional 54 shares during the last quarter. Blue Trust Inc. lifted its stake in shares of STERIS by 16.5% in the 1st 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 boosted its position in shares of STERIS by 1.0% during the 1st 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 in the last quarter. Cetera Investment Advisers increased its holdings in STERIS by 0.9% in the first quarter. Cetera Investment Advisers now owns 6,999 shares of the medical equipment provider's stock worth $1,586,000 after purchasing an additional 63 shares in the last quarter. Finally, Horizon Investments LLC grew its position in shares of STERIS by 4.7% during the 1st quarter. Horizon Investments LLC now owns 1,410 shares of the medical equipment provider's stock worth $320,000 after buying an additional 63 shares during the period. Institutional investors own 94.69% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on STE. KeyCorp upped their price objective on shares of STERIS from $277.00 to $288.00 and gave the company an "overweight" rating in a report on Tuesday, July 22nd. Weiss Ratings reaffirmed a "buy (b)" rating on shares of STERIS in a research report on Tuesday, October 14th. Wall Street Zen raised shares of STERIS from a "buy" rating to a "strong-buy" rating in a research report on Sunday, September 14th. Finally, Morgan Stanley boosted their price target 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. Seven equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $273.50.

Insider Transactions at STERIS

In other STERIS news, Director Mohsen Sohi sold 4,110 shares of the company's stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $241.96, for a total transaction of $994,455.60. Following the sale, the director directly owned 22,361 shares of the company's stock, valued at $5,410,467.56. This represents a 15.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Karen L. Burton sold 7,900 shares of the stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $241.73, for a total transaction of $1,909,667.00. Following the transaction, the chief accounting officer owned 5,994 shares of the company's stock, valued at $1,448,929.62. This represents a 56.86% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 18,868 shares of company stock valued at $4,585,389. 1.07% of the stock is currently owned by insiders.

STERIS Stock Up 0.6%

STE opened at $243.46 on Thursday. STERIS plc has a fifty-two week low of $200.98 and a fifty-two week high of $253.00. The firm has a market capitalization of $23.98 billion, a P/E ratio of 37.16 and a beta of 1.01. The company's 50-day moving average is $244.96 and its 200 day moving average is $236.71. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.22 and a quick ratio of 1.53.

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

STERIS Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 26th. Investors of record on Thursday, September 4th were paid a $0.63 dividend. The ex-dividend date was Thursday, September 4th. This is a positive change from STERIS's previous quarterly dividend of $0.57. This represents a $2.52 annualized dividend and a yield of 1.0%. STERIS's dividend payout ratio (DPR) is currently 38.59%.

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.

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