Dynamic Advisor Solutions LLC Purchases 230 Shares of STERIS plc (NYSE:STE)

Dynamic Advisor Solutions LLC boosted its stake in STERIS plc (NYSE:STE) by 23.6% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,203 shares of the medical equipment provider’s stock after purchasing an additional 230 shares during the quarter. Dynamic Advisor Solutions LLC’s holdings in STERIS were worth $273,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of STE. Empowered Funds LLC lifted its stake in STERIS by 3.3% in the 4th quarter. Empowered Funds LLC now owns 1,984 shares of the medical equipment provider’s stock worth $408,000 after purchasing an additional 63 shares in the last quarter. Sanctuary Advisors LLC lifted its stake in STERIS by 1.8% in the 4th quarter. Sanctuary Advisors LLC now owns 8,161 shares of the medical equipment provider’s stock worth $1,809,000 after purchasing an additional 143 shares in the last quarter. CIBC Asset Management Inc raised its position in shares of STERIS by 4.5% during the 4th quarter. CIBC Asset Management Inc now owns 15,045 shares of the medical equipment provider’s stock valued at $3,093,000 after buying an additional 654 shares in the last quarter. Venturi Wealth Management LLC raised its position in shares of STERIS by 78.3% during the 4th quarter. Venturi Wealth Management LLC now owns 3,276 shares of the medical equipment provider’s stock valued at $673,000 after buying an additional 1,439 shares in the last quarter. Finally, Bryn Mawr Capital Management LLC raised its position in shares of STERIS by 236.8% during the 4th quarter. Bryn Mawr Capital Management LLC now owns 2,829 shares of the medical equipment provider’s stock valued at $582,000 after buying an additional 1,989 shares in the last quarter. Hedge funds and other institutional investors own 94.69% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on STE. Citigroup restated an “outperform” rating on shares of STERIS in a research report on Friday, May 16th. Morgan Stanley upped their price target on shares of STERIS from $240.00 to $260.00 and gave the company an “equal weight” rating in a report on Monday, May 19th. Jefferies Financial Group assumed coverage on shares of STERIS in a report on Thursday, May 29th. They set a “hold” rating and a $263.00 price target on the stock. JMP Securities upped their price target on shares of STERIS from $265.00 to $280.00 and gave the company a “market outperform” rating in a report on Friday, May 16th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of STERIS in a report on Monday, April 7th. Three investment analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $263.83.

Insider Activity

In other STERIS news, CEO Daniel A. Carestio sold 17,626 shares of the firm’s stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $242.56, for a total value of $4,275,362.56. Following the completion of the transaction, the chief executive officer now owns 51,385 shares of the company’s stock, valued at approximately $12,463,945.60. This trade represents a 25.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Cary L. Majors sold 12,828 shares of the firm’s stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $250.08, for a total transaction of $3,208,026.24. Following the completion of the transaction, the senior vice president now directly owns 11,372 shares of the company’s stock, valued at approximately $2,843,909.76. This represents a 53.01% decrease in their position. The disclosure for this sale can be found here. Insiders own 1.07% of the company’s stock.

STERIS Price Performance

Shares of STE stock opened at $236.15 on Friday. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.96 and a quick ratio of 1.39. The company has a market capitalization of $23.23 billion, a P/E ratio of 38.09 and a beta of 0.94. The company’s 50-day simple moving average is $233.97 and its two-hundred day simple moving average is $223.10. STERIS plc has a one year low of $200.98 and a one year high of $252.79.

STERIS (NYSE:STE) last issued its earnings results on Wednesday, May 14th. The medical equipment provider reported $2.74 EPS for the quarter, topping analysts’ consensus estimates of $2.59 by $0.15. The business had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.47 billion. STERIS had a net margin of 11.26% and a return on equity of 14.21%. The company’s revenue for the quarter was up 5.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.58 EPS. As a group, equities analysts anticipate that STERIS plc will post 9.08 EPS for the current year.

STERIS Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 26th. Shareholders of record on Tuesday, June 10th will be paid a $0.57 dividend. The ex-dividend date of this dividend is Tuesday, June 10th. This represents a $2.28 dividend on an annualized basis and a yield of 0.97%. STERIS’s dividend payout ratio is currently 36.77%.

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.