Golden State Wealth Management LLC Increases Stake in STERIS plc (NYSE:STE)

Golden State Wealth Management LLC increased its stake in STERIS plc (NYSE:STE) by 503.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 199 shares of the medical equipment provider’s stock after purchasing an additional 166 shares during the quarter. Golden State Wealth Management LLC’s holdings in STERIS were worth $45,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Avalon Trust Co purchased a new stake in shares of STERIS during the 4th quarter valued at about $30,000. Grove Bank & Trust increased its position in STERIS by 4,733.3% during the 1st quarter. Grove Bank & Trust now owns 145 shares of the medical equipment provider’s stock valued at $33,000 after buying an additional 142 shares in the last quarter. ORG Wealth Partners LLC purchased a new stake in STERIS during the 1st quarter worth approximately $43,000. Brown Brothers Harriman & Co. grew its holdings in shares of STERIS by 66.7% during the fourth quarter. Brown Brothers Harriman & Co. now owns 220 shares of the medical equipment provider’s stock valued at $45,000 after buying an additional 88 shares during the last quarter. Finally, Slocum Gordon & Co LLP purchased a new stake in STERIS during the 1st quarter valued at about $57,000. Hedge funds and other institutional investors own 94.69% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Jefferies Financial Group assumed coverage on shares of STERIS in a research note on Thursday, May 29th. They set a “hold” rating and a $263.00 target price on the stock. Needham & Company LLC restated a “hold” rating on shares of STERIS in a research report on Monday, April 7th. Stephens reiterated an “overweight” rating and issued a $250.00 price objective on shares of STERIS in a report on Thursday, May 15th. Wall Street Zen raised shares of STERIS from a “buy” rating to a “strong-buy” rating in a research note on Saturday, June 14th. Finally, JMP Securities increased their price objective on shares of STERIS from $265.00 to $280.00 and gave the company a “market outperform” rating in a research report on Friday, May 16th. Three investment analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $263.83.

STERIS Trading Up 0.9%

Shares of NYSE:STE opened at $242.27 on Wednesday. The stock has a market capitalization of $23.83 billion, a PE ratio of 39.08 and a beta of 0.92. The company has a current ratio of 1.96, a quick ratio of 1.39 and a debt-to-equity ratio of 0.29. The firm has a fifty day moving average price of $237.12 and a 200 day moving average price of $224.59. STERIS plc has a 1 year low of $200.98 and a 1 year high of $252.79.

STERIS (NYSE:STE) last issued its quarterly earnings data on Wednesday, May 14th. The medical equipment provider reported $2.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.59 by $0.15. STERIS had a return on equity of 14.21% and a net margin of 11.26%. The company had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.47 billion. During the same period last year, the business earned $2.58 earnings per share. The business’s revenue was up 5.7% on a year-over-year basis. Analysts expect that STERIS plc will post 9.08 EPS for the current fiscal year.

STERIS Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 26th. Investors of record on Tuesday, June 10th were paid a dividend of $0.57 per share. The ex-dividend date of this dividend was Tuesday, June 10th. This represents a $2.28 dividend on an annualized basis and a yield of 0.94%. STERIS’s payout ratio is 36.77%.

Insider Buying and Selling

In related news, SVP Cary L. Majors sold 12,828 shares of STERIS stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $250.08, for a total transaction of $3,208,026.24. Following the completion of the sale, the senior vice president owned 11,372 shares of the company’s stock, valued at approximately $2,843,909.76. The trade was a 53.01% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Daniel A. Carestio sold 17,626 shares of the business’s stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $242.56, for a total value of $4,275,362.56. Following the completion of the sale, the chief executive officer owned 51,385 shares of the company’s stock, valued at approximately $12,463,945.60. This trade represents a 25.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.07% of the stock is currently owned by corporate insiders.

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.