Financial Network Wealth Advisors LLC Buys 90 Shares of STERIS plc (NYSE:STE)

Financial Network Wealth Advisors LLC increased its stake in STERIS plc (NYSE:STE) by 39.3% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 319 shares of the medical equipment provider’s stock after purchasing an additional 90 shares during the quarter. Financial Network Wealth Advisors LLC’s holdings in STERIS were worth $72,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the business. Park Edge Advisors LLC increased 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 worth $1,067,000 after buying an additional 47 shares in the last quarter. Blue Trust Inc. increased its stake in STERIS by 16.5% in the 1st quarter. Blue Trust Inc. now owns 395 shares of the medical equipment provider’s stock worth $90,000 after buying an additional 56 shares in the last quarter. Taylor Frigon Capital Management LLC increased its stake 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 worth $1,423,000 after buying an additional 62 shares in the last quarter. Gallagher Fiduciary Advisors LLC increased its stake in STERIS by 3.3% in the 4th quarter. Gallagher Fiduciary Advisors LLC now owns 1,970 shares of the medical equipment provider’s stock worth $405,000 after buying an additional 63 shares in the last quarter. Finally, West Coast Financial LLC increased its stake in STERIS by 3.9% in the 1st quarter. West Coast Financial LLC now owns 1,658 shares of the medical equipment provider’s stock worth $376,000 after buying an additional 63 shares in the last quarter. Hedge funds and other institutional investors own 94.69% of the company’s stock.

STERIS Trading Up 1.5%

Shares of STERIS stock opened at $247.44 on Thursday. The firm has a market cap of $24.37 billion, a price-to-earnings ratio of 37.89 and a beta of 0.92. The business has a 50-day moving average price of $234.24 and a 200-day moving average price of $229.22. The company has a quick ratio of 1.53, a current ratio of 2.22 and a debt-to-equity ratio of 0.27. STERIS plc has a twelve month low of $200.98 and a twelve month high of $252.79.

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

STERIS Increases Dividend

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

Insider Transactions at STERIS

In related news, SVP Cary L. Majors sold 12,828 shares of the stock in a transaction dated Tuesday, May 20th. The shares were 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 approximately $2,843,909.76. This trade represents a 53.01% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Cynthia L. Feldmann sold 3,495 shares of the stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $241.56, for a total transaction of $844,252.20. Following the completion of the transaction, the director directly owned 705 shares of the company’s stock, valued at approximately $170,299.80. The trade was a 83.21% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 45,959 shares of company stock worth $11,231,764 in the last quarter. Company insiders own 1.07% of the company’s stock.

Analyst Upgrades and Downgrades

STE has been the subject of a number of analyst reports. JMP Securities increased 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. Wall Street Zen upgraded STERIS from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 9th. Stephens reiterated an “overweight” rating and issued a $250.00 price target on shares of STERIS in a research note on Thursday, May 15th. KeyCorp raised their price objective on STERIS from $277.00 to $288.00 and gave the company an “overweight” rating in a research report on Tuesday, July 22nd. Finally, Morgan Stanley raised their price objective on STERIS from $276.00 to $295.00 and gave the company an “overweight” rating in a research report on Friday, August 8th. Two research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, STERIS currently has an average rating of “Moderate Buy” and an average price target of $273.50.

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.