Callan Family Office LLC Makes New Investment in STERIS plc $STE

Callan Family Office LLC purchased a new position in STERIS plc (NYSE:STE) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund purchased 1,836 shares of the medical equipment provider’s stock, valued at approximately $441,000.

Other institutional investors also recently added to or reduced their stakes in the company. Geneos Wealth Management Inc. increased its position in STERIS by 416.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 129 shares of the medical equipment provider’s stock worth $29,000 after buying an additional 104 shares during the period. Grove Bank & Trust increased its position in STERIS by 4,733.3% in the 1st quarter. Grove Bank & Trust now owns 145 shares of the medical equipment provider’s stock worth $33,000 after buying an additional 142 shares during the period. Zions Bancorporation National Association UT bought a new position in STERIS in the 1st quarter worth approximately $37,000. ORG Wealth Partners LLC bought a new position in STERIS in the 1st quarter worth approximately $43,000. Finally, Golden State Wealth Management LLC increased its position in STERIS by 503.0% in the 1st quarter. Golden State Wealth Management LLC now owns 199 shares of the medical equipment provider’s stock worth $45,000 after buying an additional 166 shares during the period. 94.69% of the stock is owned by institutional investors.

STERIS Price Performance

Shares of STE stock opened at $237.92 on Wednesday. The stock’s fifty day simple moving average is $244.75 and its 200 day simple moving average is $236.07. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.22 and a quick ratio of 1.53. The firm has a market cap of $23.43 billion, a price-to-earnings ratio of 36.43 and a beta of 1.01. STERIS plc has a one year low of $200.98 and a one year high of $253.00.

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

STERIS Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 26th. Investors of record on Thursday, September 4th were paid a $0.63 dividend. The ex-dividend date of this dividend was Thursday, September 4th. This represents a $2.52 annualized dividend and a yield of 1.1%. This is a positive change from STERIS’s previous quarterly dividend of $0.57. STERIS’s payout ratio is presently 38.59%.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on STE. Weiss Ratings restated a “buy (b)” rating on shares of STERIS in a research report on Tuesday. KeyCorp boosted 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. Wall Street Zen upgraded STERIS from a “buy” rating to a “strong-buy” rating in a research report on Sunday, September 14th. Finally, Morgan Stanley boosted 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. Seven investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $273.50.

Insider Buying and Selling

In other STERIS news, Director Mohsen Sohi sold 4,110 shares of the business’s stock in a transaction on Monday, August 11th. The stock was sold at an average price of $241.96, for a total value of $994,455.60. Following the transaction, the director owned 22,361 shares of the company’s stock, valued at approximately $5,410,467.56. The trade was a 15.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Daniel A. Carestio sold 159 shares of the business’s stock in a transaction on Monday, October 6th. The stock was sold at an average price of $241.82, for a total value of $38,449.38. Following the completion of the transaction, the chief executive officer directly owned 51,096 shares in the company, valued at approximately $12,356,034.72. This represents a 0.31% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 18,868 shares of company stock valued at $4,585,389. Insiders own 1.07% of the company’s stock.

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.