Lakeridge Wealth Management LLC Boosts Stake in STERIS plc (NYSE:STE)

Lakeridge Wealth Management LLC raised its position in STERIS plc (NYSE:STE) by 3.5% during the fourth quarter, HoldingsChannel.com reports. The firm owned 2,801 shares of the medical equipment provider’s stock after buying an additional 95 shares during the quarter. Lakeridge Wealth Management LLC’s holdings in STERIS were worth $576,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Franklin Resources Inc. raised its holdings in STERIS by 171.2% in the third quarter. Franklin Resources Inc. now owns 838,569 shares of the medical equipment provider’s stock valued at $191,370,000 after buying an additional 529,308 shares during the period. Assenagon Asset Management S.A. increased its position in shares of STERIS by 7,418.7% in the third quarter. Assenagon Asset Management S.A. now owns 309,771 shares of the medical equipment provider’s stock worth $75,132,000 after acquiring an additional 305,651 shares in the last quarter. Boston Trust Walden Corp raised its stake in shares of STERIS by 400.4% in 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 acquiring an additional 179,829 shares during the period. Swedbank AB acquired a new position in shares of STERIS during the 3rd quarter valued at $28,251,000. Finally, Benjamin Edwards Inc. lifted its holdings in shares of STERIS by 2,123.2% during the 3rd quarter. Benjamin Edwards Inc. now owns 113,672 shares of the medical equipment provider’s stock valued at $27,574,000 after acquiring an additional 108,559 shares in the last quarter. 94.69% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

STE has been the topic of several research reports. Piper Sandler raised their price objective on STERIS from $260.00 to $265.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. StockNews.com downgraded STERIS from a “strong-buy” rating to a “buy” rating in a report on Tuesday, October 29th. Needham & Company LLC reissued a “hold” rating on shares of STERIS in a research report on Friday, November 8th. JMP Securities reaffirmed a “market outperform” rating and issued a $265.00 price objective on shares of STERIS in a research report on Thursday, February 6th. Finally, Stephens reissued an “overweight” rating and set a $240.00 target price on shares of STERIS in a research report on Thursday, February 6th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, STERIS currently has an average rating of “Moderate Buy” and a consensus price target of $258.75.

Insider Buying and Selling at STERIS

In other news, SVP Cary L. Majors sold 1,682 shares of the business’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $217.32, for a total value of $365,532.24. Following the completion of the sale, the senior vice president now owns 11,372 shares of the company’s stock, valued at approximately $2,471,363.04. The trade was a 12.88 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.14% of the stock is currently owned by insiders.

STERIS Trading Up 0.1 %

NYSE:STE opened at $219.54 on Friday. The stock has a market cap of $21.67 billion, a price-to-earnings ratio of 46.61 and a beta of 0.84. STERIS plc has a one year low of $197.82 and a one year high of $248.24. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.55 and a current ratio of 2.13. The business’s 50-day simple moving average is $212.95 and its 200 day simple moving average is $224.09.

STERIS (NYSE:STE) last posted its quarterly earnings data on Wednesday, February 5th. The medical equipment provider reported $2.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.33 by ($0.01). STERIS had a return on equity of 13.91% and a net margin of 8.66%. As a group, sell-side analysts predict that STERIS plc will post 9.08 earnings per share for the current fiscal year.

STERIS Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 21st. Investors of record on Thursday, February 20th will be issued a $0.57 dividend. The ex-dividend date is Thursday, February 20th. This represents a $2.28 annualized dividend and a yield of 1.04%. STERIS’s dividend payout ratio is presently 48.41%.

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.