Legacy Wealth Asset Management LLC Has $684,000 Stock Position in STERIS plc $STE

Legacy Wealth Asset Management LLC reduced its position in STERIS plc (NYSE:STE) by 19.6% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 2,848 shares of the medical equipment provider’s stock after selling 693 shares during the period. Legacy Wealth Asset Management LLC’s holdings in STERIS were worth $684,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Geneos Wealth Management Inc. increased its stake in shares of STERIS by 416.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 129 shares of the medical equipment provider’s stock valued at $29,000 after buying an additional 104 shares during the period. Zions Bancorporation National Association UT acquired a new stake in shares of STERIS in the 1st quarter valued at $37,000. Golden State Wealth Management LLC increased its stake in shares of STERIS by 503.0% in the 1st quarter. Golden State Wealth Management LLC now owns 199 shares of the medical equipment provider’s stock valued at $45,000 after buying an additional 166 shares during the period. Costello Asset Management INC acquired a new stake in shares of STERIS in the 1st quarter valued at $45,000. Finally, Wayfinding Financial LLC acquired a new stake in shares of STERIS in the 1st quarter valued at $46,000. 94.69% of the stock is owned by institutional investors and hedge funds.

STERIS Stock Performance

STE opened at $241.97 on Wednesday. STERIS plc has a 52-week low of $200.98 and a 52-week high of $253.00. The firm has a market capitalization of $23.83 billion, a PE ratio of 37.06 and a beta of 1.01. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.53 and a current ratio of 2.22. The business’s 50-day simple moving average is $245.06 and its 200 day simple moving average is $236.67.

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

STERIS Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 26th. Shareholders of record on Thursday, September 4th were paid a $0.63 dividend. This is a positive change from STERIS’s previous quarterly dividend of $0.57. This represents a $2.52 annualized dividend and a yield of 1.0%. The ex-dividend date was Thursday, September 4th. STERIS’s dividend payout ratio is currently 38.59%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on STE shares. Weiss Ratings reaffirmed a “buy (b)” rating on shares of STERIS in a research note on Tuesday, October 14th. Wall Street Zen raised STERIS from a “buy” rating to a “strong-buy” rating in a research note on Sunday, September 14th. KeyCorp lifted their target price on STERIS from $277.00 to $288.00 and gave the stock an “overweight” rating in a report on Tuesday, July 22nd. Finally, Morgan Stanley lifted their target price on STERIS from $276.00 to $295.00 and gave the company an “overweight” rating in a research report on Friday, August 8th. Seven analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $273.50.

Insider Transactions at STERIS

In other STERIS news, VP Renato Tamaro sold 3,204 shares of the company’s stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $249.24, for a total value of $798,564.96. Following the sale, the vice president owned 7,221 shares in the company, valued at $1,799,762.04. This represents a 30.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Karen L. Burton sold 7,900 shares of the company’s stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $241.73, for a total value of $1,909,667.00. Following the completion of the sale, 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. Over the last ninety days, insiders have sold 18,868 shares of company stock valued at $4,585,389. Company insiders own 1.07% of the company’s stock.

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.