Isthmus Partners LLC Buys Shares of 200 STERIS plc (NYSE:STE)

Isthmus Partners LLC bought a new position in shares of STERIS plc (NYSE:STE) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 200 shares of the medical equipment provider’s stock, valued at approximately $44,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. International Assets Investment Management LLC bought a new stake in STERIS during the 4th quarter worth approximately $2,223,000. Victory Capital Management Inc. grew its position in STERIS by 16.3% during the fourth quarter. Victory Capital Management Inc. now owns 68,274 shares of the medical equipment provider’s stock worth $15,010,000 after buying an additional 9,555 shares in the last quarter. 9258 Wealth Management LLC raised its stake in STERIS by 49.6% in the fourth quarter. 9258 Wealth Management LLC now owns 2,040 shares of the medical equipment provider’s stock valued at $448,000 after purchasing an additional 676 shares in the last quarter. Spire Wealth Management raised its position in STERIS by 88.0% during the fourth quarter. Spire Wealth Management now owns 203 shares of the medical equipment provider’s stock valued at $45,000 after purchasing an additional 95 shares in the last quarter. Finally, Private Advisor Group LLC bought a new stake in STERIS in the 4th quarter worth approximately $379,000. 94.69% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other STERIS news, Director Christopher S. Holland sold 473 shares of the stock in a transaction dated Thursday, August 8th. The stock was 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 of the company’s stock, valued at approximately $139,493.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.14% of the stock is currently owned by corporate insiders.

STERIS Stock Performance

Shares of STERIS stock traded up $0.77 during midday trading on Friday, hitting $239.82. The company had a trading volume of 365,096 shares, compared to its average volume of 351,923. The stock has a market cap of $23.65 billion, a price-to-earnings ratio of 62.78 and a beta of 0.83. The company has a quick ratio of 1.49, a current ratio of 2.33 and a debt-to-equity ratio of 0.35. STERIS plc has a 12-month low of $195.47 and a 12-month high of $245.81. The company has a fifty day simple moving average of $230.92 and a 200 day simple moving average of $224.83.

STERIS (NYSE:STE) last posted its earnings results on Tuesday, August 6th. The medical equipment provider reported $2.14 earnings per share for the quarter, beating the consensus estimate of $1.98 by $0.16. The firm had revenue of $1.28 billion during the quarter, compared to analyst estimates of $1.27 billion. STERIS had a net margin of 7.36% and a return on equity of 13.85%. The business’s quarterly revenue was down .4% on a year-over-year basis. During the same period in the previous year, the firm earned $2.00 EPS. As a group, analysts predict that STERIS plc will post 9.05 earnings per share for the current fiscal year.

STERIS Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 20th. Investors of record on Thursday, September 5th will be issued a $0.57 dividend. This is a positive change from STERIS’s previous quarterly dividend of $0.52. This represents a $2.28 annualized dividend and a yield of 0.95%. The ex-dividend date is Thursday, September 5th. STERIS’s payout ratio is 54.45%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on STE shares. Needham & Company LLC reissued a “hold” rating on shares of STERIS in a research note on Thursday, August 8th. KeyCorp raised their target price on shares of STERIS from $255.00 to $265.00 and gave the company an “overweight” rating in a research note on Tuesday. JMP Securities reiterated a “market outperform” rating and issued a $265.00 price target 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 report on Tuesday, August 13th. Finally, Piper Sandler restated a “neutral” rating and issued a $225.00 price target (up from $220.00) on shares of STERIS in a research note on Friday, May 10th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $246.00.

STERIS 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.