HB Wealth Management LLC Makes New Investment in STERIS plc (NYSE:STE)

HB Wealth Management LLC purchased a new position in STERIS plc (NYSE:STE) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 931 shares of the medical equipment provider’s stock, valued at approximately $204,000.

A number of other large investors also recently modified their holdings of STE. Vanguard Group Inc. lifted its stake in shares of STERIS by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 11,864,606 shares of the medical equipment provider’s stock valued at $2,608,434,000 after purchasing an additional 53,526 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its stake in shares of STERIS by 1.3% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 5,811,818 shares of the medical equipment provider’s stock valued at $1,277,728,000 after purchasing an additional 77,152 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of STERIS by 7.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,738,630 shares of the medical equipment provider’s stock valued at $390,880,000 after purchasing an additional 120,616 shares in the last quarter. Sustainable Growth Advisers LP lifted its stake in shares of STERIS by 23.5% in the 1st quarter. Sustainable Growth Advisers LP now owns 1,485,578 shares of the medical equipment provider’s stock valued at $333,988,000 after purchasing an additional 282,387 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in shares of STERIS by 3.4% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,009,157 shares of the medical equipment provider’s stock valued at $226,879,000 after purchasing an additional 32,755 shares in the last quarter. 94.69% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Christopher S. Holland sold 473 shares of the business’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $239.68, for a total value of $113,368.64. Following the completion of the sale, the director now directly owns 582 shares in the company, valued at approximately $139,493.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 1.14% of the company’s stock.

STERIS Stock Performance

Shares of STE opened at $241.10 on Friday. The business’s 50 day moving average is $228.94 and its two-hundred day moving average is $224.50. STERIS plc has a 52-week low of $195.47 and a 52-week high of $243.37. The firm has a market cap of $23.78 billion, a price-to-earnings ratio of 63.12 and a beta of 0.83. The company has a quick ratio of 1.49, a current ratio of 2.33 and a debt-to-equity ratio of 0.35.

STERIS (NYSE:STE) last announced its earnings results on Tuesday, August 6th. The medical equipment provider reported $2.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.98 by $0.16. STERIS had a return on equity of 13.85% and a net margin of 7.36%. The company had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.27 billion. During the same period in the prior year, the company posted $2.00 EPS. STERIS’s quarterly revenue was down .4% on a year-over-year basis. Analysts forecast that STERIS plc will post 9.17 EPS for the current fiscal year.

STERIS Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 20th. Stockholders of record on Thursday, September 5th will be issued a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a dividend yield of 0.95%. This is an increase from STERIS’s previous quarterly dividend of $0.52. The ex-dividend date is Thursday, September 5th. STERIS’s payout ratio is 54.45%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on STE shares. JMP Securities reaffirmed a “market outperform” rating and issued a $265.00 price objective on shares of STERIS in a research note on Wednesday, August 7th. Needham & Company LLC reissued a “hold” rating on shares of STERIS in a research report on Thursday, August 8th. StockNews.com raised STERIS from a “hold” rating to a “buy” rating in a research report on Tuesday, August 13th. Stephens reissued an “overweight” rating and set a $260.00 price target on shares of STERIS in a research report on Wednesday, August 7th. Finally, Piper Sandler reissued a “neutral” rating and set a $225.00 price target (up 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’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $243.60.

About STERIS

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.