Merit Financial Group LLC Acquires New Shares in STERIS plc (NYSE:STE)

Merit Financial Group LLC bought a new position in STERIS plc (NYSE:STE) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 1,267 shares of the medical equipment provider’s stock, valued at approximately $260,000.

A number of other hedge funds have also bought and sold shares of the business. Ashton Thomas Securities LLC bought a new stake in shares of STERIS in the third quarter worth approximately $25,000. Central Pacific Bank Trust Division bought a new stake in STERIS in the 3rd quarter worth approximately $28,000. Quarry LP purchased a new stake in STERIS during the 3rd quarter valued at $67,000. Asset Dedication LLC lifted its holdings in shares of STERIS by 54.8% during the 3rd quarter. Asset Dedication LLC now owns 291 shares of the medical equipment provider’s stock valued at $71,000 after buying an additional 103 shares during the period. Finally, Exchange Traded Concepts LLC purchased a new position in shares of STERIS in the 3rd quarter worth $150,000. Hedge funds and other institutional investors own 94.69% of the company’s stock.

STERIS Stock Down 0.1 %

STE stock opened at $216.88 on Friday. The business’s 50-day moving average price is $211.46 and its 200-day moving average price is $224.71. The stock has a market cap of $21.41 billion, a P/E ratio of 49.52 and a beta of 0.84. The company has a quick ratio of 1.55, a current ratio of 2.41 and a debt-to-equity ratio of 0.33. STERIS plc has a twelve month low of $197.82 and a twelve month high of $248.24.

STERIS (NYSE:STE) last issued its quarterly earnings results on Wednesday, November 6th. The medical equipment provider reported $2.14 earnings per share for the quarter, beating the consensus estimate of $2.12 by $0.02. The business had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.33 billion. STERIS had a net margin of 8.02% and a return on equity of 13.78%. The company’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.03 earnings per share. On average, equities research analysts forecast that STERIS plc will post 9.11 EPS for the current year.

STERIS Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 19th. Shareholders of record on Tuesday, November 19th were paid a $0.57 dividend. The ex-dividend date was Tuesday, November 19th. This represents a $2.28 dividend on an annualized basis and a yield of 1.05%. STERIS’s payout ratio is presently 52.05%.

Insiders Place Their Bets

In other news, SVP Cary L. Majors sold 1,682 shares of the company’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $217.32, for a total value of $365,532.24. Following the completion of the transaction, the senior vice president now owns 11,372 shares of the company’s stock, valued at $2,471,363.04. This represents a 12.88 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.14% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of analysts recently commented on the company. JMP Securities reiterated a “market outperform” rating and set a $265.00 price objective on shares of STERIS in a research report on Monday, November 18th. Piper Sandler raised shares of STERIS from a “neutral” rating to an “overweight” rating and upped their price target for the company from $230.00 to $260.00 in a research report on Thursday, October 24th. StockNews.com downgraded shares of STERIS from a “strong-buy” rating to a “buy” rating in a report on Tuesday, October 29th. Stephens reaffirmed an “overweight” rating and set a $260.00 target price on shares of STERIS in a report on Thursday, November 7th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of STERIS in a research report on Friday, November 8th. One analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $262.50.

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.