Nicolet Advisory Services LLC Makes New $204,000 Investment in STERIS plc (NYSE:STE)

Nicolet Advisory Services LLC acquired a new stake in STERIS plc (NYSE:STE) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 940 shares of the medical equipment provider’s stock, valued at approximately $204,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Park Edge Advisors LLC grew its stake in STERIS by 1.0% in the 1st quarter. Park Edge Advisors LLC now owns 4,709 shares of the medical equipment provider’s stock valued at $1,067,000 after acquiring an additional 47 shares during the period. Blue Trust Inc. increased its position in shares of STERIS by 16.5% during the first quarter. Blue Trust Inc. now owns 395 shares of the medical equipment provider’s stock worth $90,000 after purchasing an additional 56 shares in the last quarter. Taylor Frigon Capital Management LLC lifted its holdings in STERIS by 1.0% in the 1st quarter. Taylor Frigon Capital Management LLC now owns 6,280 shares of the medical equipment provider’s stock valued at $1,423,000 after purchasing an additional 62 shares in the last quarter. Gallagher Fiduciary Advisors LLC boosted its stake in STERIS by 3.3% during the 4th quarter. Gallagher Fiduciary Advisors LLC now owns 1,970 shares of the medical equipment provider’s stock worth $405,000 after purchasing an additional 63 shares during the last quarter. Finally, West Coast Financial LLC boosted its stake in STERIS by 3.9% during the 1st quarter. West Coast Financial LLC now owns 1,658 shares of the medical equipment provider’s stock worth $376,000 after purchasing an additional 63 shares during the last quarter. 94.69% of the stock is currently owned by hedge funds and other institutional investors.

STERIS Price Performance

Shares of STE stock opened at $226.69 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 $22.30 billion, a PE ratio of 36.56 and a beta of 0.92. The firm’s 50-day moving average is $235.55 and its two-hundred day moving average is $228.12. STERIS plc has a 12 month low of $200.98 and a 12 month high of $252.79.

STERIS (NYSE:STE) last released its quarterly 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. STERIS had a net margin of 11.26% and a return on equity of 14.21%. The firm had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.47 billion. During the same quarter in the previous year, the company earned $2.58 EPS. The business’s revenue for the quarter was up 5.7% compared to the same quarter last year. Analysts predict that STERIS plc will post 9.08 earnings per share for the current year.

STERIS Increases Dividend

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

Insider Buying and Selling at STERIS

In related news, CEO Daniel A. Carestio sold 17,626 shares of the firm’s stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $242.56, for a total transaction of $4,275,362.56. Following the completion of the sale, the chief executive officer directly 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Cary L. Majors sold 12,828 shares of the business’s stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $250.08, for a total transaction of $3,208,026.24. Following the completion of the sale, the senior vice president owned 11,372 shares in the company, valued at approximately $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. Corporate insiders own 1.07% of the company’s stock.

Wall Street Analysts Forecast Growth

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