Wealth Enhancement Advisory Services LLC Buys 2,415 Shares of STERIS plc $STE

Key Points

• Wealth Enhancement Advisory Services LLC increased its stake in STERIS plc by 29.9%, adding 2,415 shares to its portfolio, bringing its total holdings to 10,493 shares valued at $2.49 million.
• Several analysts have raised their price targets for STERIS, with KeyCorp raising it to $288 and Morgan Stanley to $295, reflecting a positive outlook on the company's performance.
• STERIS recently announced an increase in its quarterly dividend, raising it from $0.57 to $0.63 per share, which represents a yield of 1.0% and underscores the company's commitment to returning value to shareholders.

Wealth Enhancement Advisory Services LLC lifted its stake in shares of STERIS plc (NYSE:STE - Free Report) by 29.9% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 10,493 shares of the medical equipment provider's stock after purchasing an additional 2,415 shares during the quarter. Wealth Enhancement Advisory Services LLC's holdings in STERIS were worth $2,493,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Geneos Wealth Management Inc. raised its stake in shares of STERIS by 416.0% during the 1st quarter. Geneos Wealth Management Inc. now owns 129 shares of the medical equipment provider's stock valued at $29,000 after purchasing an additional 104 shares during the period. Grove Bank & Trust grew its holdings in shares of STERIS by 4,733.3% during the first quarter. Grove Bank & Trust now owns 145 shares of the medical equipment provider's stock worth $33,000 after purchasing an additional 142 shares in the last quarter. Zions Bancorporation National Association UT purchased a new position in shares of STERIS during the first quarter worth about $37,000. ORG Wealth Partners LLC bought a new position in shares of STERIS in the first quarter worth approximately $43,000. Finally, Golden State Wealth Management LLC increased its position in shares of STERIS by 503.0% in the first quarter. Golden State Wealth Management LLC now owns 199 shares of the medical equipment provider's stock worth $45,000 after purchasing an additional 166 shares during the last quarter. 94.69% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts recently weighed in on STE shares. KeyCorp upped their price objective on shares of STERIS from $277.00 to $288.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 22nd. Wall Street Zen upgraded shares of STERIS from a "buy" rating to a "strong-buy" rating in a research report on Sunday, September 14th. Finally, Morgan Stanley upped their price objective on shares of STERIS from $276.00 to $295.00 and gave the stock an "overweight" rating in a research report on Friday, August 8th. Six investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $273.50.

Insiders Place Their Bets

In other STERIS news, CAO Karen L. Burton sold 7,900 shares of the stock in a transaction on 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 sale, the chief accounting officer directly owned 5,994 shares in the company, valued at approximately $1,448,929.62. This trade represents a 56.86% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Cynthia L. Feldmann sold 3,495 shares of the 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 sale, the director owned 705 shares in the company, valued at approximately $170,299.80. This represents a 83.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 18,709 shares of company stock valued at $4,546,940. 1.07% of the stock is currently owned by company insiders.

STERIS Price Performance

STE opened at $248.82 on Friday. The stock has a market capitalization of $24.51 billion, a P/E ratio of 38.10 and a beta of 0.95. STERIS plc has a 12-month low of $200.98 and a 12-month high of $253.00. The stock has a 50-day moving average price of $241.31 and a 200-day moving average price of $234.68. The company has a current ratio of 2.22, a quick ratio of 1.53 and a debt-to-equity ratio of 0.27.

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

STERIS Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 26th. Investors of record on Thursday, September 4th were given a dividend of $0.63 per share. This is a boost from STERIS's previous quarterly dividend of $0.57. The ex-dividend date of this dividend was Thursday, September 4th. This represents a $2.52 dividend on an annualized basis and a yield of 1.0%. 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.

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