Summit Trail Advisors LLC Increases Stock Holdings in STERIS plc (NYSE:STE)

Summit Trail Advisors LLC grew its holdings in shares of STERIS plc (NYSE:STE) by 80.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,571 shares of the medical equipment provider’s stock after purchasing an additional 698 shares during the period. Summit Trail Advisors LLC’s holdings in STERIS were worth $323,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the business. Ashton Thomas Securities LLC acquired a new position in shares of STERIS in the third quarter valued at approximately $25,000. Central Pacific Bank Trust Division grew its stake in shares of STERIS by 65.5% in the fourth quarter. Central Pacific Bank Trust Division now owns 192 shares of the medical equipment provider’s stock worth $39,000 after acquiring an additional 76 shares in the last quarter. Quarry LP acquired a new position in shares of STERIS in the third quarter worth $67,000. Asset Dedication LLC increased its position in shares of STERIS by 54.8% during the third quarter. Asset Dedication LLC now owns 291 shares of the medical equipment provider’s stock worth $71,000 after acquiring an additional 103 shares during the period. Finally, R Squared Ltd acquired a new stake in shares of STERIS in the fourth quarter valued at $78,000. Institutional investors and hedge funds own 94.69% of the company’s stock.

STERIS Price Performance

Shares of NYSE STE opened at $219.00 on Thursday. The stock’s 50-day simple moving average is $212.81 and its 200-day simple moving average is $224.37. The firm has a market capitalization of $21.62 billion, a PE ratio of 46.50 and a beta of 0.84. STERIS plc has a fifty-two week low of $197.82 and a fifty-two week high of $248.24. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.55 and a current ratio of 2.13.

STERIS (NYSE:STE) last released its quarterly earnings data on Wednesday, February 5th. The medical equipment provider reported $2.32 earnings per share for the quarter, missing analysts’ consensus estimates of $2.33 by ($0.01). STERIS had a return on equity of 13.91% and a net margin of 8.66%. As a group, equities research analysts forecast that STERIS plc will post 9.08 EPS for the current fiscal year.

STERIS Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Thursday, February 20th will be paid a $0.57 dividend. The ex-dividend date of this dividend is Thursday, February 20th. This represents a $2.28 annualized dividend and a yield of 1.04%. STERIS’s dividend payout ratio is presently 48.41%.

Insiders Place Their Bets

In related 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 sale, the senior vice president now directly owns 11,372 shares of the company’s stock, valued at $2,471,363.04. This represents a 12.88 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.14% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on STE shares. Piper Sandler boosted their target price on STERIS from $260.00 to $265.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. JMP Securities reissued a “market outperform” rating and set a $265.00 price objective on shares of STERIS in a research report on Thursday, February 6th. StockNews.com cut shares of STERIS from a “strong-buy” rating to a “buy” rating in a report on Tuesday, October 29th. Needham & Company LLC reiterated a “hold” rating on shares of STERIS in a report on Friday, November 8th. Finally, Stephens reissued an “overweight” rating and issued a $240.00 price objective on shares of STERIS in a research report on Thursday, February 6th. 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 company presently has a consensus rating of “Moderate Buy” and a consensus target price of $258.75.

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.