Fruth Investment Management Buys Shares of 11,775 STERIS plc (NYSE:STE)

Fruth Investment Management purchased a new position in STERIS plc (NYSE:STE) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 11,775 shares of the medical equipment provider’s stock, valued at approximately $2,420,000.

A number of other institutional investors have also recently made changes to their positions in STE. Northwestern Mutual Wealth Management Co. increased its stake in STERIS by 7.6% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,040 shares of the medical equipment provider’s stock valued at $448,000 after acquiring an additional 144 shares during the last quarter. Cetera Investment Advisers boosted its stake in STERIS by 8.2% in the second quarter. Cetera Investment Advisers now owns 13,343 shares of the medical equipment provider’s stock worth $2,930,000 after buying an additional 1,013 shares in the last quarter. Sanctuary Advisors LLC bought a new stake in shares of STERIS in the 2nd quarter worth approximately $1,751,000. Czech National Bank boosted its stake in shares of STERIS by 6.7% in the 3rd quarter. Czech National Bank now owns 20,089 shares of the medical equipment provider’s stock valued at $4,872,000 after purchasing an additional 1,260 shares in the last quarter. Finally, GAMMA Investing LLC grew its holdings in shares of STERIS by 31.4% during the 3rd quarter. GAMMA Investing LLC now owns 1,325 shares of the medical equipment provider’s stock valued at $321,000 after purchasing an additional 317 shares during the last quarter. Institutional investors own 94.69% of the company’s stock.

STERIS Stock Up 0.7 %

Shares of STERIS stock opened at $220.97 on Thursday. The company has a current ratio of 2.41, a quick ratio of 1.55 and a debt-to-equity ratio of 0.33. The company’s fifty day simple moving average is $212.33 and its two-hundred day simple moving average is $224.59. The company has a market cap of $21.81 billion, a P/E ratio of 50.45 and a beta of 0.84. STERIS plc has a 12-month low of $197.82 and a 12-month high of $248.24.

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

STERIS Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 21st. Investors of record on Thursday, February 20th will be given a dividend of $0.57 per share. The ex-dividend date is Thursday, February 20th. This represents a $2.28 annualized dividend and a dividend yield of 1.03%. STERIS’s dividend payout ratio is presently 52.05%.

Insiders Place Their Bets

In other news, SVP Cary L. Majors sold 1,682 shares of STERIS stock in a transaction that occurred on 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 transaction, the senior vice president now directly owns 11,372 shares in the company, valued at approximately $2,471,363.04. This trade represents a 12.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.14% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on STE. JMP Securities reaffirmed a “market outperform” rating and set a $265.00 price objective on shares of STERIS in a research note on Monday, November 18th. Needham & Company LLC reaffirmed a “hold” rating on shares of STERIS in a research note on Friday, November 8th. Piper Sandler increased their price objective on STERIS from $260.00 to $265.00 and gave the company an “overweight” rating in a research note on Monday. Stephens reaffirmed an “overweight” rating and issued a $260.00 target price on shares of STERIS in a research note on Thursday, November 7th. Finally, StockNews.com cut shares of STERIS from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, October 29th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $263.75.

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.