Isthmus Partners LLC Buys Shares of 200 STERIS plc (NYSE:STE)

Isthmus Partners LLC bought a new position in shares of STERIS plc (NYSE:STEFree Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 200 shares of the medical equipment provider’s stock, valued at approximately $44,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. International Assets Investment Management LLC bought a new stake in STERIS during the 4th quarter worth approximately $2,223,000. Victory Capital Management Inc. grew its position in STERIS by 16.3% during the fourth quarter. Victory Capital Management Inc. now owns 68,274 shares of the medical equipment provider’s stock worth $15,010,000 after buying an additional 9,555 shares in the last quarter. 9258 Wealth Management LLC raised its stake in STERIS by 49.6% in the fourth quarter. 9258 Wealth Management LLC now owns 2,040 shares of the medical equipment provider’s stock valued at $448,000 after purchasing an additional 676 shares in the last quarter. Spire Wealth Management raised its position in STERIS by 88.0% during the fourth quarter. Spire Wealth Management now owns 203 shares of the medical equipment provider’s stock valued at $45,000 after purchasing an additional 95 shares in the last quarter. Finally, Private Advisor Group LLC bought a new stake in STERIS in the 4th quarter worth approximately $379,000. 94.69% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other STERIS news, Director Christopher S. Holland sold 473 shares of the stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $239.68, for a total value of $113,368.64. Following the sale, the director now owns 582 shares of the company’s stock, valued at approximately $139,493.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.14% of the stock is currently owned by corporate insiders.

STERIS Stock Performance

Shares of STERIS stock traded up $0.77 during midday trading on Friday, hitting $239.82. The company had a trading volume of 365,096 shares, compared to its average volume of 351,923. The stock has a market cap of $23.65 billion, a price-to-earnings ratio of 62.78 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 plc has a 12-month low of $195.47 and a 12-month high of $245.81. The company has a fifty day simple moving average of $230.92 and a 200 day simple moving average of $224.83.

STERIS (NYSE:STEGet Free Report) last posted its earnings results 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 firm had revenue of $1.28 billion during the quarter, compared to analyst estimates of $1.27 billion. STERIS had a net margin of 7.36% and a return on equity of 13.85%. The business’s quarterly revenue was down .4% on a year-over-year basis. During the same period in the previous year, the firm earned $2.00 EPS. As a group, analysts predict that STERIS plc will post 9.05 earnings per share for the current fiscal year.

STERIS Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 20th. Investors of record on Thursday, September 5th will be issued 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 yield of 0.95%. The ex-dividend date is Thursday, September 5th. STERIS’s payout ratio is 54.45%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on STE shares. Needham & Company LLC reissued a “hold” rating on shares of STERIS in a research note on Thursday, August 8th. KeyCorp raised their target price on shares of STERIS from $255.00 to $265.00 and gave the company an “overweight” rating in a research note on Tuesday. JMP Securities reiterated a “market outperform” rating and issued a $265.00 price target on shares of STERIS in a research note on Wednesday, August 7th. StockNews.com upgraded STERIS from a “hold” rating to a “buy” rating in a report on Tuesday, August 13th. Finally, Piper Sandler restated a “neutral” rating and issued a $225.00 price target (up from $220.00) on shares of STERIS in a research note on Friday, May 10th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $246.00.

Check Out Our Latest Research Report on STE

STERIS Profile

(Free Report)

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.

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Institutional Ownership by Quarter for STERIS (NYSE:STE)

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