Global Assets Advisory LLC Purchases New Stake in STERIS plc (NYSE:STE)

Global Assets Advisory LLC acquired a new position in STERIS plc (NYSE:STE) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 25,418 shares of the medical equipment provider’s stock, valued at approximately $5,714,000.

Several other institutional investors have also recently added to or reduced their stakes in the business. VisionPoint Advisory Group LLC bought a new position in STERIS in the fourth quarter worth about $34,000. Pingora Partners LLC bought a new position in STERIS during the 4th quarter worth $37,000. Glassman Wealth Services bought a new position in STERIS during the 4th quarter worth $38,000. Spire Wealth Management increased its position in STERIS by 88.0% in the fourth quarter. Spire Wealth Management now owns 203 shares of the medical equipment provider’s stock worth $45,000 after buying an additional 95 shares during the period. Finally, AdvisorNet Financial Inc lifted its stake in STERIS by 144.9% in the fourth quarter. AdvisorNet Financial Inc now owns 311 shares of the medical equipment provider’s stock valued at $68,000 after buying an additional 184 shares during the last quarter. Institutional investors own 94.69% of the company’s stock.

STERIS Price Performance

STE stock opened at $216.56 on Tuesday. The firm has a 50-day moving average of $218.73 and a two-hundred day moving average of $220.78. The firm has a market capitalization of $21.41 billion, a PE ratio of 56.69 and a beta of 0.85. The company has a current ratio of 3.08, a quick ratio of 2.36 and a debt-to-equity ratio of 0.49. STERIS plc has a one year low of $195.47 and a one year high of $254.00.

STERIS (NYSE:STE) last announced its earnings results on Wednesday, May 8th. The medical equipment provider reported $2.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.41 by $0.17. STERIS had a net margin of 6.95% and a return on equity of 13.73%. The company had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.41 billion. During the same period in the previous year, the business earned $2.30 EPS. The company’s revenue was up 10.8% on a year-over-year basis. On average, analysts forecast that STERIS plc will post 9.24 earnings per share for the current year.

STERIS Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 26th. Stockholders of record on Wednesday, June 12th will be issued a $0.52 dividend. The ex-dividend date of this dividend is Wednesday, June 12th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.96%. STERIS’s dividend payout ratio is 54.45%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on STE. JMP Securities reiterated a “market outperform” rating and issued a $265.00 price objective on shares of STERIS in a research report on Thursday, May 9th. Piper Sandler reiterated a “neutral” rating and set a $225.00 price objective (up from $220.00) on shares of STERIS in a research report on Friday, May 10th. Needham & Company LLC reissued a “hold” rating on shares of STERIS in a report on Friday, May 10th. Finally, StockNews.com raised STERIS from a “hold” rating to a “buy” rating in a research note on Saturday, June 15th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $241.60.

Insider Transactions at STERIS

In other STERIS news, VP Renato Tamaro sold 1,154 shares of the company’s stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $231.64, for a total value of $267,312.56. Following the transaction, the vice president now owns 6,677 shares in the company, valued at approximately $1,546,660.28. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other STERIS news, Director Jacqueline B. Kosecoff sold 4,584 shares of the company’s stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $231.53, for a total value of $1,061,333.52. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Renato Tamaro sold 1,154 shares of the business’s stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $231.64, for a total value of $267,312.56. Following the completion of the sale, the vice president now directly owns 6,677 shares of the company’s stock, valued at approximately $1,546,660.28. The disclosure for this sale can be found here. Insiders sold 7,762 shares of company stock valued at $1,798,477 over the last three months. 1.14% of the stock is owned by corporate insiders.

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.