Unique Wealth LLC Buys Shares of 1,181 STERIS plc (NYSE:STE)

Unique Wealth LLC purchased a new stake in STERIS plc (NYSE:STE - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 1,181 shares of the medical equipment provider's stock, valued at approximately $268,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Select Equity Group L.P. increased its stake in STERIS by 165.3% during the fourth quarter. Select Equity Group L.P. now owns 2,599,730 shares of the medical equipment provider's stock worth $534,400,000 after acquiring an additional 1,619,796 shares during the last quarter. Norges Bank acquired a new stake in STERIS during the fourth quarter worth $238,836,000. Raymond James Financial Inc. acquired a new stake in STERIS during the fourth quarter worth $223,987,000. GAMMA Investing LLC boosted its position in shares of STERIS by 35,759.9% during the first quarter. GAMMA Investing LLC now owns 410,237 shares of the medical equipment provider's stock worth $92,980,000 after buying an additional 409,093 shares during the period. Finally, Franklin Resources Inc. boosted its position in shares of STERIS by 45.1% during the fourth quarter. Franklin Resources Inc. now owns 1,216,821 shares of the medical equipment provider's stock worth $250,130,000 after buying an additional 378,252 shares during the period. Institutional investors and hedge funds own 94.69% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently commented on STE shares. Morgan Stanley raised their price target on STERIS from $240.00 to $260.00 and gave the stock an "equal weight" rating in a research report on Monday, May 19th. Stephens restated an "overweight" rating and set a $250.00 price target on shares of STERIS in a research report on Thursday, May 15th. Citigroup restated an "outperform" rating on shares of STERIS in a research report on Friday, May 16th. Jefferies Financial Group started coverage on STERIS in a research report on Thursday, May 29th. They set a "hold" rating and a $263.00 price target for the company. Finally, JMP Securities raised their price target on STERIS from $265.00 to $280.00 and gave the stock a "market outperform" rating in a research report on Friday, May 16th. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, STERIS currently has a consensus rating of "Moderate Buy" and a consensus price target of $263.83.

STERIS Stock Down 0.2%

NYSE:STE traded down $0.43 during midday trading on Tuesday, reaching $242.28. The company had a trading volume of 576,777 shares, compared to its average volume of 550,304. The firm has a market capitalization of $23.83 billion, a price-to-earnings ratio of 51.44 and a beta of 0.94. The company has a current ratio of 2.13, a quick ratio of 1.40 and a debt-to-equity ratio of 0.32. The stock's fifty day simple moving average is $230.96 and its 200-day simple moving average is $222.21. STERIS plc has a 12-month low of $200.98 and a 12-month high of $252.79.

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

STERIS Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 26th. Stockholders of record on Tuesday, June 10th will be issued a $0.57 dividend. This represents a $2.28 annualized dividend and a dividend yield of 0.94%. The ex-dividend date is Tuesday, June 10th. STERIS's payout ratio is currently 36.77%.

Insider Activity

In related news, SVP Cary L. Majors sold 12,828 shares of the company's stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $250.08, for a total value of $3,208,026.24. Following the sale, the senior vice president now owns 11,372 shares in the company, valued at $2,843,909.76. This represents a 53.01% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Daniel A. Carestio sold 17,626 shares of the company's stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $242.56, for a total value of $4,275,362.56. Following the completion of the sale, the chief executive officer now owns 51,385 shares in the company, valued at approximately $12,463,945.60. This represents a 25.54% decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.14% of the company's stock.

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.