Atria Wealth Solutions Inc. Raises Stock Position in STERIS plc (NYSE:STE)

Atria Wealth Solutions Inc. raised its stake in shares of STERIS plc (NYSE:STE) by 51.8% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,802 shares of the medical equipment provider’s stock after purchasing an additional 615 shares during the quarter. Atria Wealth Solutions Inc.’s holdings in STERIS were worth $409,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Costello Asset Management INC purchased a new position in STERIS during the 1st quarter valued at $45,000. Middleton & Co. Inc. MA grew its position in shares of STERIS by 3.4% in the 1st quarter. Middleton & Co. Inc. MA now owns 50,805 shares of the medical equipment provider’s stock worth $11,515,000 after buying an additional 1,670 shares during the period. Haven Private LLC purchased a new stake in shares of STERIS in the 1st quarter worth about $298,000. Argent Trust Co grew its position in shares of STERIS by 14.1% in the 1st quarter. Argent Trust Co now owns 2,524 shares of the medical equipment provider’s stock worth $572,000 after buying an additional 311 shares during the period. Finally, Bank of Nova Scotia grew its position in shares of STERIS by 3.8% in the 1st quarter. Bank of Nova Scotia now owns 61,762 shares of the medical equipment provider’s stock worth $13,998,000 after buying an additional 2,254 shares during the period. 94.69% of the stock is owned by hedge funds and other institutional investors.

STERIS Stock Performance

Shares of STERIS stock opened at $246.16 on Friday. The stock has a market cap of $24.24 billion, a price-to-earnings ratio of 37.70 and a beta of 0.92. The firm’s 50-day moving average is $234.30 and its 200 day moving average is $229.39. STERIS plc has a 1 year low of $200.98 and a 1 year high of $252.79. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.22 and a quick ratio of 1.53.

STERIS (NYSE:STE) last announced its quarterly earnings results on Wednesday, August 6th. The medical equipment provider reported $2.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.32 by $0.02. The company had revenue of $1.40 billion for the quarter, compared to analysts’ expectations of $1.36 billion. STERIS had a net margin of 11.61% and a return on equity of 14.17%. STERIS’s revenue was up 8.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.03 EPS. Sell-side analysts anticipate that STERIS plc will post 9.08 EPS for the current fiscal year.

STERIS Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 26th. Investors of record on Thursday, September 4th will be paid a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date is Thursday, September 4th. This is a positive change from STERIS’s previous quarterly dividend of $0.57. STERIS’s dividend payout ratio (DPR) is presently 34.92%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Stephens reaffirmed an “overweight” rating and issued a $250.00 target price on shares of STERIS in a research report on Thursday, May 15th. Citigroup reaffirmed an “outperform” rating on shares of STERIS in a research report on Friday, May 16th. KeyCorp upped their target price on shares of STERIS from $277.00 to $288.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 22nd. Jefferies Financial Group assumed coverage on shares of STERIS in a research report on Thursday, May 29th. They issued a “hold” rating and a $263.00 target price on the stock. Finally, Morgan Stanley upped their target price on shares of STERIS from $276.00 to $295.00 and gave the stock an “overweight” rating in a research report on Friday, August 8th. Two investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, STERIS presently has a consensus rating of “Moderate Buy” and an average target price of $273.50.

Insider Buying and Selling

In other STERIS news, Director Mohsen Sohi sold 4,110 shares of the company’s stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $241.96, for a total transaction of $994,455.60. Following the transaction, the director owned 22,361 shares in the company, valued at approximately $5,410,467.56. This represents a 15.53% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Karen L. Burton sold 7,900 shares of the company’s stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $241.73, for a total transaction of $1,909,667.00. Following the transaction, the chief accounting officer owned 5,994 shares in the company, valued at $1,448,929.62. This represents a 56.86% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 45,959 shares of company stock worth $11,231,764 over the last quarter. 1.07% of the stock is owned by insiders.

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.