Strong Tower Advisory Services Acquires 1,414 Shares of STERIS plc (NYSE:STE)

Strong Tower Advisory Services raised its holdings in STERIS plc (NYSE:STE) by 19.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 8,605 shares of the medical equipment provider’s stock after buying an additional 1,414 shares during the period. Strong Tower Advisory Services’ holdings in STERIS were worth $2,087,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Russell Investments Group Ltd. lifted its position in STERIS by 8.3% in the 1st quarter. Russell Investments Group Ltd. now owns 58,841 shares of the medical equipment provider’s stock valued at $13,235,000 after acquiring an additional 4,494 shares in the last quarter. State Board of Administration of Florida Retirement System lifted its holdings in shares of STERIS by 3.2% in the first quarter. State Board of Administration of Florida Retirement System now owns 106,346 shares of the medical equipment provider’s stock valued at $23,909,000 after purchasing an additional 3,342 shares in the last quarter. Diversify Advisory Services LLC purchased a new position in shares of STERIS during the first quarter valued at approximately $903,000. Perpetual Ltd grew its holdings in STERIS by 9.3% during the first quarter. Perpetual Ltd now owns 40,571 shares of the medical equipment provider’s stock worth $9,121,000 after buying an additional 3,437 shares in the last quarter. Finally, Artemis Investment Management LLP raised its position in STERIS by 21.0% in the 1st quarter. Artemis Investment Management LLP now owns 179,837 shares of the medical equipment provider’s stock valued at $40,410,000 after buying an additional 31,162 shares during the last quarter. 94.69% of the stock is currently owned by institutional investors and hedge funds.

STERIS Stock Performance

Shares of STERIS stock traded up $1.58 on Friday, reaching $227.74. 53,255 shares of the company traded hands, compared to its average volume of 470,319. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.33 and a quick ratio of 1.49. The firm has a market capitalization of $22.51 billion, a PE ratio of 59.15 and a beta of 0.84. The company has a 50 day moving average of $237.07 and a 200 day moving average of $225.80. STERIS plc has a 52 week low of $195.47 and a 52 week high of $248.24.

STERIS (NYSE:STE) last released its earnings results on Tuesday, August 6th. The medical equipment provider reported $2.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.98 by $0.16. The business had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.27 billion. STERIS had a return on equity of 13.85% and a net margin of 7.36%. The business’s revenue for the quarter was down .4% on a year-over-year basis. During the same period last year, the business posted $2.00 earnings per share. Equities analysts forecast that STERIS plc will post 9.06 earnings per share for the current year.

STERIS Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Investors of record on Thursday, September 5th were paid a $0.57 dividend. This is a boost from STERIS’s previous quarterly dividend of $0.52. This represents a $2.28 dividend on an annualized basis and a yield of 1.00%. The ex-dividend date was Thursday, September 5th. STERIS’s payout ratio is currently 59.69%.

Insider Buying and Selling at STERIS

In other news, CFO Michael J. Tokich sold 23,332 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $247.00, for a total value of $5,763,004.00. Following the sale, the chief financial officer now owns 42,930 shares of the company’s stock, valued at $10,603,710. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CFO Michael J. Tokich sold 23,332 shares of STERIS stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $247.00, for a total value of $5,763,004.00. Following the completion of the transaction, the chief financial officer now directly owns 42,930 shares in the company, valued at approximately $10,603,710. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Christopher S. Holland sold 473 shares of the business’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $239.68, for a total value of $113,368.64. Following the sale, the director now owns 582 shares in the company, valued at approximately $139,493.76. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.14% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on STE shares. Needham & Company LLC reaffirmed a “hold” rating on shares of STERIS in a report on Thursday, August 8th. JMP Securities reaffirmed a “market outperform” rating and issued a $265.00 price objective on shares of STERIS in a research report on Wednesday, August 7th. Stephens reiterated an “overweight” rating and issued a $260.00 price objective on shares of STERIS in a research note on Wednesday, August 7th. StockNews.com upgraded STERIS from a “hold” rating to a “buy” rating in a research note on Tuesday, August 13th. Finally, KeyCorp increased their price target on STERIS from $255.00 to $265.00 and gave the company an “overweight” rating in a research report on Tuesday, September 3rd. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, STERIS has a consensus rating of “Moderate Buy” and an average target price of $246.00.

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.