Lee Financial Co Boosts Holdings in STERIS plc (NYSE:STE)

Lee Financial Co lifted its position in shares of STERIS plc (NYSE:STE) by 6.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,759 shares of the medical equipment provider’s stock after purchasing an additional 437 shares during the period. Lee Financial Co’s holdings in STERIS were worth $1,389,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Magnolia Capital Advisors LLC lifted its holdings in STERIS by 1.9% in the 4th quarter. Magnolia Capital Advisors LLC now owns 2,534 shares of the medical equipment provider’s stock worth $521,000 after buying an additional 48 shares in the last quarter. SkyView Investment Advisors LLC lifted its stake in shares of STERIS by 1.6% in the third quarter. SkyView Investment Advisors LLC now owns 3,153 shares of the medical equipment provider’s stock worth $765,000 after acquiring an additional 51 shares in the last quarter. Park Edge Advisors LLC boosted its holdings in STERIS by 1.1% in the fourth quarter. Park Edge Advisors LLC now owns 4,662 shares of the medical equipment provider’s stock valued at $958,000 after purchasing an additional 51 shares during the last quarter. Opal Wealth Advisors LLC grew its stake in STERIS by 5.7% during the 4th quarter. Opal Wealth Advisors LLC now owns 1,118 shares of the medical equipment provider’s stock valued at $230,000 after purchasing an additional 60 shares in the last quarter. Finally, Sage Private Wealth Group LLC increased its holdings in STERIS by 4.1% during the 4th quarter. Sage Private Wealth Group LLC now owns 1,537 shares of the medical equipment provider’s stock worth $316,000 after purchasing an additional 61 shares during the last quarter. 94.69% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

STERIS Price Performance

Shares of NYSE:STE opened at $219.54 on Friday. The company has a quick ratio of 1.55, a current ratio of 2.13 and a debt-to-equity ratio of 0.32. The firm has a 50-day simple moving average of $212.95 and a 200 day simple moving average of $224.09. STERIS plc has a fifty-two week low of $197.82 and a fifty-two week high of $248.24. The company has a market cap of $21.67 billion, a PE ratio of 46.61 and a beta of 0.84.

STERIS (NYSE:STE) last announced its quarterly 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 return on equity of 13.91% and a net margin of 8.66%. On average, sell-side analysts anticipate that STERIS plc will post 9.08 EPS for the current year.

STERIS Dividend Announcement

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

Insider Activity

In related news, SVP Cary L. Majors sold 1,682 shares of STERIS 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 sale, the senior vice president now directly owns 11,372 shares in the company, valued at $2,471,363.04. This trade represents a 12.88 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 1.14% of the company’s stock.

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.