Lake Street Advisors Group LLC Has $404,000 Stake in STERIS plc (NYSE:STE)

Lake Street Advisors Group LLC lifted its position in STERIS plc (NYSE:STE) by 47.9% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,796 shares of the medical equipment provider’s stock after buying an additional 582 shares during the quarter. Lake Street Advisors Group LLC’s holdings in STERIS were worth $404,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Norges Bank bought a new position in STERIS during the fourth quarter valued at about $220,954,000. Impax Asset Management Group plc lifted its holdings in STERIS by 419.1% in the 4th quarter. Impax Asset Management Group plc now owns 964,935 shares of the medical equipment provider’s stock worth $211,430,000 after purchasing an additional 779,038 shares during the last quarter. APG Asset Management US Inc. bought a new stake in STERIS during the fourth quarter worth approximately $74,963,000. Sustainable Growth Advisers LP boosted its position in STERIS by 23.5% during the first quarter. Sustainable Growth Advisers LP now owns 1,485,578 shares of the medical equipment provider’s stock worth $333,988,000 after purchasing an additional 282,387 shares during the period. Finally, Goldman Sachs Group Inc. grew its holdings in STERIS by 71.7% during the fourth quarter. Goldman Sachs Group Inc. now owns 603,879 shares of the medical equipment provider’s stock valued at $132,763,000 after purchasing an additional 252,200 shares during the last quarter. Institutional investors and hedge funds own 94.69% of the company’s stock.

STERIS Stock Performance

Shares of NYSE:STE traded up $0.02 on Wednesday, hitting $231.72. 331,929 shares of the company were exchanged, compared to its average volume of 484,812. The company’s 50 day moving average price is $223.30 and its two-hundred day moving average price is $221.73. The firm has a market capitalization of $22.91 billion, a price-to-earnings ratio of 60.66 and a beta of 0.83. The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.36 and a current ratio of 3.08. STERIS plc has a one year low of $195.47 and a one year high of $254.00.

STERIS (NYSE:STE) last posted its quarterly earnings results on Wednesday, May 8th. The medical equipment provider reported $2.58 EPS for the quarter, beating the consensus estimate of $2.41 by $0.17. STERIS had a return on equity of 13.73% and a net margin of 6.95%. The firm had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.41 billion. During the same quarter in the prior year, the firm posted $2.30 EPS. The company’s revenue for the quarter was up 10.8% on a year-over-year basis. Research analysts expect that STERIS plc will post 9.24 earnings per share for the current year.

STERIS Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 26th. Shareholders of record on Wednesday, June 12th were issued a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 0.90%. The ex-dividend date of this dividend was Wednesday, June 12th. STERIS’s dividend payout ratio (DPR) is presently 54.45%.

Insider Buying and Selling at STERIS

In other news, SVP Cary L. Majors sold 2,024 shares of the firm’s stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $232.13, for a total transaction of $469,831.12. Following the completion of the transaction, the senior vice president now directly owns 11,369 shares of the company’s stock, valued at approximately $2,639,085.97. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, SVP Cary L. Majors sold 2,024 shares of the stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $232.13, for a total value of $469,831.12. Following the completion of the transaction, the senior vice president now directly owns 11,369 shares of the company’s stock, valued at approximately $2,639,085.97. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Jacqueline B. Kosecoff sold 4,584 shares of the firm’s stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $231.53, for a total value of $1,061,333.52. The disclosure for this sale can be found here. Insiders have sold 7,762 shares of company stock valued at $1,798,477 in the last 90 days. 1.14% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on STE. StockNews.com upgraded shares of STERIS from a “hold” rating to a “buy” rating in a research note on Saturday, June 15th. JMP Securities restated a “market outperform” rating and set a $265.00 price target on shares of STERIS in a report on Thursday, May 9th. Needham & Company LLC reiterated a “hold” rating on shares of STERIS in a research note on Friday, May 10th. Finally, Piper Sandler reissued a “neutral” rating and set a $225.00 price objective (up previously from $220.00) on shares of STERIS in a research report on Friday, May 10th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, STERIS has an average rating of “Moderate Buy” and a consensus price target of $241.60.

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.