HB Wealth Management LLC Invests $556,000 in STERIS plc (NYSE:STE)

HB Wealth Management LLC acquired a new stake in STERIS plc (NYSE:STE) during the first quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 2,454 shares of the medical equipment provider’s stock, valued at approximately $556,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in STE. Caliber Wealth Management LLC KS acquired a new position in STERIS during the 1st quarter worth $1,685,000. Cetera Investment Advisers increased its stake in shares of STERIS by 0.9% in the first quarter. Cetera Investment Advisers now owns 6,999 shares of the medical equipment provider’s stock worth $1,586,000 after purchasing an additional 63 shares during the period. Avantax Advisory Services Inc. lifted its position in shares of STERIS by 16.4% during the 1st quarter. Avantax Advisory Services Inc. now owns 3,631 shares of the medical equipment provider’s stock worth $823,000 after purchasing an additional 511 shares during the last quarter. ANTIPODES PARTNERS Ltd acquired a new position in shares of STERIS during the 1st quarter worth about $121,000. Finally, Journey Strategic Wealth LLC bought a new stake in STERIS during the 1st quarter valued at approximately $216,000. 94.69% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

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

STERIS Price Performance

Shares of STE stock opened at $226.54 on Friday. STERIS plc has a 1 year low of $200.98 and a 1 year high of $252.79. The company has a current ratio of 1.96, a quick ratio of 1.39 and a debt-to-equity ratio of 0.29. The firm’s 50 day moving average is $235.88 and its 200-day moving average is $227.84. The firm has a market capitalization of $22.29 billion, a price-to-earnings ratio of 36.54 and a beta of 0.92.

STERIS (NYSE:STE) last issued its quarterly earnings results on Wednesday, May 14th. The medical equipment provider reported $2.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.59 by $0.15. The business had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.47 billion. STERIS had a return on equity of 14.21% and a net margin of 11.26%. The firm’s revenue for the quarter was up 5.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.58 earnings per share. Sell-side analysts forecast that STERIS plc will post 9.08 EPS for the current fiscal year.

STERIS Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 26th. Stockholders of record on Thursday, September 4th will be given a $0.63 dividend. The ex-dividend date is Thursday, September 4th. This represents a $2.52 annualized dividend and a dividend yield of 1.1%. This is an increase from STERIS’s previous quarterly dividend of $0.57. STERIS’s dividend payout ratio is 36.77%.

Wall Street Analysts Forecast Growth

STE has been the subject of several research reports. Morgan Stanley raised shares of STERIS from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $260.00 to $276.00 in a research report on Tuesday, July 15th. Citigroup reissued an “outperform” rating on shares of STERIS in a report on Friday, May 16th. Jefferies Financial Group initiated coverage on shares of STERIS in a research note on Thursday, May 29th. They issued a “hold” rating and a $263.00 target price on the stock. Stephens reissued an “overweight” rating and issued a $250.00 target price on shares of STERIS in a report on Thursday, May 15th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of STERIS in a research note on Monday, April 7th. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, STERIS presently has an average rating of “Moderate Buy” and an average price target of $270.33.

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.