Compass Ion Advisors LLC Decreases Stock Position in STERIS plc (NYSE:STE)

Compass Ion Advisors LLC lessened its position in shares of STERIS plc (NYSE:STE) by 37.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,680 shares of the medical equipment provider’s stock after selling 1,600 shares during the period. Compass Ion Advisors LLC’s holdings in STERIS were worth $603,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. VisionPoint Advisory Group LLC purchased a new position in STERIS in the 4th quarter valued at approximately $34,000. Pingora Partners LLC bought a new stake in shares of STERIS during the 4th quarter valued at $37,000. Glassman Wealth Services purchased a new stake in STERIS during the 4th quarter worth about $38,000. Spire Wealth Management lifted its holdings in STERIS by 88.0% during the 4th quarter. Spire Wealth Management now owns 203 shares of the medical equipment provider’s stock worth $45,000 after purchasing an additional 95 shares in the last quarter. Finally, AdvisorNet Financial Inc boosted its stake in STERIS by 144.9% in the 4th quarter. AdvisorNet Financial Inc now owns 311 shares of the medical equipment provider’s stock worth $68,000 after purchasing an additional 184 shares during the period. Institutional investors own 94.69% of the company’s stock.

Analysts Set New Price Targets

STE has been the topic of several analyst reports. Needham & Company LLC reiterated a “hold” rating on shares of STERIS in a research report on Friday, May 10th. JMP Securities reiterated a “market outperform” rating and issued a $265.00 target price on shares of STERIS in a research note on Thursday, May 9th. StockNews.com upgraded shares of STERIS from a “hold” rating to a “buy” rating in a research report on Saturday, June 15th. Finally, Piper Sandler reiterated a “neutral” rating and issued a $225.00 price objective (up previously from $220.00) on shares of STERIS in a research report on Friday, May 10th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, STERIS has a consensus rating of “Moderate Buy” and an average target price of $241.60.

STERIS Stock Performance

Shares of STE stock opened at $219.54 on Monday. The company has a market capitalization of $21.70 billion, a P/E ratio of 57.47 and a beta of 0.83. STERIS plc has a fifty-two week low of $195.47 and a fifty-two week high of $254.00. The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.36 and a current ratio of 3.08. The stock has a 50 day moving average price of $220.09 and a two-hundred day moving average price of $221.18.

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

STERIS Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 26th. Investors of record on Wednesday, June 12th were issued a dividend of $0.52 per share. The ex-dividend date of this dividend was Wednesday, June 12th. This represents a $2.08 dividend on an annualized basis and a yield of 0.95%. STERIS’s dividend payout ratio is presently 54.45%.

Insider Buying and Selling at STERIS

In other news, VP Renato Tamaro sold 1,154 shares of STERIS stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $231.64, for a total value of $267,312.56. Following the sale, the vice president now directly owns 6,677 shares in the company, valued at approximately $1,546,660.28. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, VP Renato Tamaro sold 1,154 shares of the firm’s stock in a transaction dated 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 transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Cary L. Majors sold 2,024 shares of STERIS stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $232.13, for a total transaction of $469,831.12. Following the sale, the senior vice president now directly owns 11,369 shares in the company, valued at approximately $2,639,085.97. The disclosure for this sale can be found here. Insiders sold 7,762 shares of company stock valued at $1,798,477 in the last 90 days. Insiders own 1.14% of the company’s stock.

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.