STERIS plc (NYSE:STE) Shares Purchased by Meeder Advisory Services Inc.

Meeder Advisory Services Inc. raised its position in STERIS plc (NYSE:STE) by 14.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,198 shares of the medical equipment provider’s stock after acquiring an additional 149 shares during the quarter. Meeder Advisory Services Inc.’s holdings in STERIS were worth $271,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in STE. Grove Bank & Trust increased its holdings in STERIS by 4,733.3% in the first quarter. Grove Bank & Trust now owns 145 shares of the medical equipment provider’s stock valued at $33,000 after buying an additional 142 shares during the last quarter. ORG Wealth Partners LLC purchased a new stake in STERIS in the 1st quarter valued at $43,000. Golden State Wealth Management LLC boosted its stake in shares of STERIS by 503.0% during the first quarter. Golden State Wealth Management LLC now owns 199 shares of the medical equipment provider’s stock worth $45,000 after buying an additional 166 shares during the period. Wayfinding Financial LLC acquired a new position in shares of STERIS in the first quarter valued at approximately $46,000. Finally, Slocum Gordon & Co LLP purchased a new position in STERIS during the 1st quarter worth $57,000. 94.69% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Daniel A. Carestio sold 17,626 shares of the stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $242.56, for a total transaction of $4,275,362.56. Following the transaction, the chief executive officer owned 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 sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Cary L. Majors sold 12,828 shares of STERIS 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 completion of the transaction, the senior vice president owned 11,372 shares of the company’s stock, valued at $2,843,909.76. This trade represents a 53.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.07% of the stock is currently owned by insiders.

STERIS Trading Up 0.1%

Shares of STE opened at $226.69 on Friday. STERIS plc has a one year low of $200.98 and a one year high of $252.79. The stock has a 50-day moving average price of $235.55 and a 200 day moving average price of $227.97. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.39 and a current ratio of 1.96. The company has a market capitalization of $22.30 billion, a P/E ratio of 36.56 and a beta of 0.92.

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

STERIS Increases Dividend

The business also recently announced 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. This represents a $2.52 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend is Thursday, September 4th. This is an increase from STERIS’s previous quarterly dividend of $0.57. STERIS’s payout ratio is presently 40.65%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the company. KeyCorp lifted their price target on STERIS from $277.00 to $288.00 and gave the company an “overweight” rating in a research note on Tuesday, July 22nd. Needham & Company LLC reiterated a “hold” rating on shares of STERIS in a report on Monday, April 7th. JMP Securities raised their price target on STERIS from $265.00 to $280.00 and gave the stock a “market outperform” rating in a research note on Friday, May 16th. Stephens restated an “overweight” rating and set a $250.00 price objective on shares of STERIS in a report on Thursday, May 15th. Finally, Wall Street Zen cut shares of STERIS from a “strong-buy” rating to a “buy” rating in a research report on Friday, July 18th. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $270.33.

STERIS Company 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.