Tyche Wealth Partners LLC Buys Shares of 2,249 STERIS plc (NYSE:STE)

Tyche Wealth Partners LLC bought a new stake in STERIS plc (NYSE:STE) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 2,249 shares of the medical equipment provider’s stock, valued at approximately $462,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in STE. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of STERIS by 30.8% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 10,970 shares of the medical equipment provider’s stock valued at $2,275,000 after buying an additional 2,583 shares in the last quarter. Stratos Wealth Partners LTD. lifted its stake in shares of STERIS by 2.5% during the 4th quarter. Stratos Wealth Partners LTD. now owns 15,956 shares of the medical equipment provider’s stock valued at $3,280,000 after buying an additional 390 shares in the last quarter. Alliance Wealth Advisors LLC UT lifted its stake in shares of STERIS by 6.8% during the 4th quarter. Alliance Wealth Advisors LLC UT now owns 3,241 shares of the medical equipment provider’s stock valued at $666,000 after buying an additional 207 shares in the last quarter. GDS Wealth Management lifted its stake in shares of STERIS by 5.6% during the 4th quarter. GDS Wealth Management now owns 58,243 shares of the medical equipment provider’s stock valued at $11,972,000 after buying an additional 3,088 shares in the last quarter. Finally, Boston Trust Walden Corp lifted its stake in shares of STERIS by 400.4% during the 4th quarter. Boston Trust Walden Corp now owns 224,741 shares of the medical equipment provider’s stock valued at $46,198,000 after buying an additional 179,829 shares in the last quarter. 94.69% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at STERIS

In other news, SVP Cary L. Majors sold 1,682 shares of the stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $217.32, for a total transaction of $365,532.24. Following the completion of the sale, the senior vice president now directly owns 11,372 shares in the company, valued at approximately $2,471,363.04. This represents a 12.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.14% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

STE has been the topic of a number of analyst reports. Stephens reaffirmed an “overweight” rating and set a $240.00 target price on shares of STERIS in a report on Thursday. Needham & Company LLC reaffirmed a “hold” rating on shares of STERIS in a report on Friday, November 8th. Piper Sandler upped their target price on shares of STERIS from $260.00 to $265.00 and gave the stock an “overweight” rating in a report on Monday. StockNews.com lowered shares of STERIS from a “strong-buy” rating to a “buy” rating in a report on Tuesday, October 29th. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $265.00 target price on shares of STERIS in a report on Thursday. One analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, STERIS presently has a consensus rating of “Moderate Buy” and a consensus price target of $258.75.

STERIS Stock Performance

STERIS stock opened at $225.44 on Friday. The firm has a fifty day simple moving average of $212.33 and a two-hundred day simple moving average of $224.59. The company has a quick ratio of 1.55, a current ratio of 2.41 and a debt-to-equity ratio of 0.33. STERIS plc has a twelve month low of $197.82 and a twelve month high of $248.24. The company has a market capitalization of $22.25 billion, a PE ratio of 51.47 and a beta of 0.84.

STERIS (NYSE:STE) last issued its earnings results on Wednesday, February 5th. The medical equipment provider reported $2.32 earnings per share for the quarter, missing the consensus estimate of $2.33 by ($0.01). STERIS had a net margin of 8.02% and a return on equity of 13.78%. Research analysts expect that STERIS plc will post 9.11 EPS for the current year.

STERIS Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 21st. Investors of record on Thursday, February 20th will be paid a $0.57 dividend. This represents a $2.28 annualized dividend and a dividend yield of 1.01%. The ex-dividend date is Thursday, February 20th. STERIS’s payout ratio is 52.05%.

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.