Fiduciary Family Office LLC Boosts Stake in STERIS plc $STE

Fiduciary Family Office LLC lifted its stake in STERIS plc (NYSE:STE) by 78.8% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,085 shares of the medical equipment provider’s stock after purchasing an additional 2,241 shares during the period. Fiduciary Family Office LLC’s holdings in STERIS were worth $1,221,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Geneos Wealth Management Inc. increased its stake 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 in the last quarter. Zions Bancorporation National Association UT purchased a new stake in STERIS in the 1st quarter worth $37,000. Golden State Wealth Management LLC increased its stake 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 in the last quarter. Costello Asset Management INC purchased a new stake in STERIS in the 1st quarter worth $45,000. Finally, Wayfinding Financial LLC purchased a new stake in STERIS in the 1st quarter worth $46,000. 94.69% of the stock is currently owned by hedge funds and other institutional investors.

STERIS Stock Up 0.9%

STE opened at $242.34 on Tuesday. The firm has a 50-day simple moving average of $245.10 and a two-hundred day simple moving average of $236.64. STERIS plc has a 52 week low of $200.98 and a 52 week high of $253.00. The company has a market capitalization of $23.87 billion, a PE ratio of 37.11 and a beta of 1.01. 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 (NYSE:STE) last released its quarterly earnings data 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. STERIS had a net margin of 11.61% and a return on equity of 14.17%. The business had revenue of $1.40 billion during the quarter, compared to the consensus estimate of $1.36 billion. During the same quarter in the prior year, the firm earned $2.03 EPS. The business’s revenue was up 8.8% on a year-over-year basis. Analysts forecast that STERIS plc will post 9.08 earnings per share for the current fiscal year.

STERIS Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 26th. Investors of record on Thursday, September 4th were 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 was Thursday, September 4th. This is a positive change from STERIS’s previous quarterly dividend of $0.57. STERIS’s payout ratio is 38.59%.

Insider Transactions at STERIS

In related news, CEO Daniel A. Carestio sold 159 shares of the stock in a transaction dated Monday, October 6th. The shares were 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 owned 51,096 shares of the company’s stock, valued at approximately $12,356,034.72. This trade represents a 0.31% 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 Mohsen Sohi sold 4,110 shares of the stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $241.96, for a total transaction of $994,455.60. Following the completion of the transaction, the director directly 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 position. The disclosure for this sale can be found here. Insiders have sold 18,868 shares of company stock worth $4,585,389 in the last quarter. Company insiders own 1.07% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Weiss Ratings reiterated a “buy (b)” rating on shares of STERIS in a research note on Tuesday, October 14th. Morgan Stanley increased their price target on STERIS from $276.00 to $295.00 and gave the stock an “overweight” rating in a research note on Friday, August 8th. Wall Street Zen upgraded STERIS from a “buy” rating to a “strong-buy” rating in a research note on Sunday, September 14th. Finally, KeyCorp increased their price objective on shares of STERIS from $277.00 to $288.00 and gave the company an “overweight” rating in a report on Tuesday, July 22nd. Seven research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $273.50.

About STERIS

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.