Magnolia Capital Advisors LLC Takes Position in STERIS plc (NYSE:STE)

Magnolia Capital Advisors LLC purchased a new stake in STERIS plc (NYSE:STE) in the second quarter, HoldingsChannel reports. The firm purchased 7,669 shares of the medical equipment provider’s stock, valued at approximately $1,684,000.

Other hedge funds have also made changes to their positions in the company. First Personal Financial Services acquired a new stake in shares of STERIS during the first quarter valued at $25,000. J.Safra Asset Management Corp boosted its stake in shares of STERIS by 77.9% during the first quarter. J.Safra Asset Management Corp now owns 121 shares of the medical equipment provider’s stock valued at $27,000 after acquiring an additional 53 shares during the last quarter. Quent Capital LLC boosted its stake in shares of STERIS by 112.7% during the first quarter. Quent Capital LLC now owns 134 shares of the medical equipment provider’s stock valued at $30,000 after acquiring an additional 71 shares during the last quarter. Headlands Technologies LLC acquired a new stake in shares of STERIS during the first quarter valued at $36,000. Finally, Versant Capital Management Inc boosted its stake in shares of STERIS by 2,262.5% during the second quarter. Versant Capital Management Inc now owns 189 shares of the medical equipment provider’s stock valued at $41,000 after acquiring an additional 181 shares during the last quarter. Hedge funds and other institutional investors own 94.69% of the company’s stock.

STERIS Stock Performance

NYSE STE opened at $239.05 on Monday. The firm has a market capitalization of $23.63 billion, a P/E ratio of 62.58 and a beta of 0.83. STERIS plc has a 1-year low of $195.47 and a 1-year high of $248.24. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.33 and a quick ratio of 1.49. The business’s 50-day simple moving average is $237.51 and its 200-day simple moving average is $225.71.

STERIS (NYSE:STE) last released its quarterly earnings data on Tuesday, August 6th. The medical equipment provider reported $2.14 earnings per share for the quarter, beating the consensus estimate of $1.98 by $0.16. The business had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.27 billion. STERIS had a return on equity of 13.85% and a net margin of 7.36%. The company’s revenue was down .4% compared to the same quarter last year. During the same period in the previous year, the company posted $2.00 EPS. Equities analysts predict that STERIS plc will post 9.05 EPS for the current year.

STERIS Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Stockholders of record on Thursday, September 5th were paid a $0.57 dividend. This is a positive change from STERIS’s previous quarterly dividend of $0.52. This represents a $2.28 annualized dividend and a dividend yield of 0.95%. The ex-dividend date was Thursday, September 5th. STERIS’s payout ratio is currently 59.69%.

Insider Activity at STERIS

In related news, Director Christopher S. Holland sold 473 shares of the firm’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $239.68, for a total transaction of $113,368.64. Following 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 SEC, which is accessible through this link. In related news, Director Christopher S. Holland sold 473 shares of the firm’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $239.68, for a total transaction of $113,368.64. Following 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 SEC, which is accessible through this link. Also, CFO Michael J. Tokich sold 23,332 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $247.00, for a total value of $5,763,004.00. Following the sale, the chief financial officer now owns 42,930 shares in the company, valued at $10,603,710. The disclosure for this sale can be found here. Company insiders own 1.14% of the company’s stock.

Analysts Set New Price Targets

STE has been the topic of a number of analyst reports. Needham & Company LLC reaffirmed a “hold” rating on shares of STERIS in a research note on Thursday, August 8th. KeyCorp raised their price target on STERIS from $255.00 to $265.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 3rd. Stephens reissued an “overweight” rating and issued a $260.00 price target on shares of STERIS in a research note on Wednesday, August 7th. JMP Securities reissued a “market outperform” rating and issued a $265.00 price target on shares of STERIS in a research note on Wednesday, August 7th. Finally, StockNews.com raised STERIS from a “hold” rating to a “buy” rating in a research note on Tuesday, August 13th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $246.00.

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.