Legacy Capital Wealth Partners LLC Takes $206,000 Position in STERIS plc (NYSE:STE)

Legacy Capital Wealth Partners LLC purchased a new stake in STERIS plc (NYSE:STE) during the 3rd quarter, Holdings Channel.com reports. The fund purchased 848 shares of the medical equipment provider’s stock, valued at approximately $206,000.

A number of other hedge funds have also made changes to their positions in STE. Quent Capital LLC boosted its holdings in shares of STERIS by 112.7% in the first quarter. Quent Capital LLC now owns 134 shares of the medical equipment provider’s stock valued at $30,000 after acquiring an additional 71 shares in the last quarter. Empowered Funds LLC grew its position in STERIS by 52.1% during the first quarter. Empowered Funds LLC now owns 1,729 shares of the medical equipment provider’s stock valued at $389,000 after purchasing an additional 592 shares in the last quarter. NorthRock Partners LLC increased its stake in STERIS by 46.0% in the 1st quarter. NorthRock Partners LLC now owns 1,521 shares of the medical equipment provider’s stock valued at $342,000 after buying an additional 479 shares during the period. Headlands Technologies LLC acquired a new stake in STERIS during the first quarter valued at $36,000. Finally, Russell Investments Group Ltd. raised its stake in shares of STERIS by 8.3% during the 1st quarter. Russell Investments Group Ltd. now owns 58,841 shares of the medical equipment provider’s stock worth $13,235,000 after purchasing an additional 4,494 shares in the last quarter. Hedge funds and other institutional investors own 94.69% of the company’s stock.

STERIS Stock Up 1.2 %

STE stock opened at $221.86 on Tuesday. The firm has a market capitalization of $21.88 billion, a PE ratio of 50.63 and a beta of 0.85. The company has a current ratio of 2.41, a quick ratio of 1.49 and a debt-to-equity ratio of 0.33. STERIS plc has a 1-year low of $195.47 and a 1-year high of $248.24. The business’s 50 day simple moving average is $232.29 and its 200 day simple moving average is $227.97.

STERIS (NYSE:STE) last issued its earnings results on Wednesday, November 6th. The medical equipment provider reported $2.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.12 by $0.02. The business had revenue of $1.33 billion during the quarter, compared to analysts’ expectations of $1.33 billion. STERIS had a return on equity of 13.78% and a net margin of 8.02%. The business’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.03 EPS. As a group, research analysts anticipate that STERIS plc will post 9.15 EPS for the current year.

STERIS Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Tuesday, November 19th will be issued a dividend of $0.57 per share. The ex-dividend date is Tuesday, November 19th. This represents a $2.28 annualized dividend and a yield of 1.03%. STERIS’s payout ratio is 52.05%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. Piper Sandler upgraded shares of STERIS from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $230.00 to $260.00 in a report on Thursday, October 24th. StockNews.com downgraded STERIS from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, October 29th. Stephens reiterated an “overweight” rating and set a $260.00 target price on shares of STERIS in a research note on Thursday, November 7th. KeyCorp raised their price objective on STERIS from $255.00 to $265.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 3rd. Finally, Needham & Company LLC reissued a “hold” rating on shares of STERIS in a report on Friday. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $253.00.

Insider Buying and Selling at STERIS

In other news, CFO Michael J. Tokich sold 23,332 shares of the company’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $247.00, for a total transaction of $5,763,004.00. Following the transaction, the chief financial officer now owns 42,930 shares of the company’s stock, valued at $10,603,710. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.14% 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.