Maxwell Wealth Strategies Inc. Raises Stake in STERIS plc (NYSE:STE)

Maxwell Wealth Strategies Inc. raised its position in STERIS plc (NYSE:STE) by 37.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,856 shares of the medical equipment provider’s stock after purchasing an additional 2,393 shares during the period. Maxwell Wealth Strategies Inc.’s holdings in STERIS were worth $2,014,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the company. West Coast Financial LLC boosted its position in shares of STERIS by 2.8% during the 3rd quarter. West Coast Financial LLC now owns 1,640 shares of the medical equipment provider’s stock valued at $398,000 after acquiring an additional 45 shares during the last quarter. Taylor Frigon Capital Management LLC increased its stake in STERIS by 0.8% in the 2nd quarter. Taylor Frigon Capital Management LLC now owns 6,175 shares of the medical equipment provider’s stock worth $1,356,000 after purchasing an additional 46 shares during the period. Mather Group LLC. raised its holdings in STERIS by 7.6% during the 2nd quarter. Mather Group LLC. now owns 763 shares of the medical equipment provider’s stock valued at $172,000 after buying an additional 54 shares during the last quarter. EverSource Wealth Advisors LLC raised its stake in shares of STERIS by 16.5% during the first quarter. EverSource Wealth Advisors LLC now owns 402 shares of the medical equipment provider’s stock valued at $82,000 after acquiring an additional 57 shares during the last quarter. Finally, Waterloo Capital L.P. raised its position in STERIS by 3.2% during the 2nd quarter. Waterloo Capital L.P. now owns 1,916 shares of the medical equipment provider’s stock valued at $421,000 after purchasing an additional 59 shares during the last quarter. 94.69% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at STERIS

In other news, CFO Michael J. Tokich sold 23,332 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $247.00, for a total transaction of $5,763,004.00. Following the sale, the chief financial officer now directly owns 42,930 shares of the company’s stock, valued at $10,603,710. This represents a 35.21 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.14% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. StockNews.com lowered shares of 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 report on Friday, November 8th. Stephens reiterated an “overweight” rating and set a $260.00 price target on shares of STERIS in a report on Thursday, November 7th. JMP Securities reaffirmed a “market outperform” rating and set a $265.00 price objective on shares of STERIS in a research report on Wednesday, August 7th. Finally, KeyCorp lifted their target price on shares of STERIS from $255.00 to $265.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 3rd. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, STERIS presently has a consensus rating of “Moderate Buy” and a consensus price target of $253.00.

STERIS Stock Performance

NYSE:STE opened at $220.12 on Friday. The stock has a 50-day simple moving average of $230.77 and a two-hundred day simple moving average of $228.15. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.55 and a current ratio of 2.41. STERIS plc has a 52-week low of $195.47 and a 52-week high of $248.24. The firm has a market capitalization of $21.73 billion, a PE ratio of 50.26 and a beta of 0.85.

STERIS (NYSE:STE) last announced its quarterly earnings data on Wednesday, November 6th. The medical equipment provider reported $2.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.12 by $0.02. STERIS had a net margin of 8.02% and a return on equity of 13.78%. The firm had revenue of $1.33 billion during the quarter, compared to analysts’ expectations of $1.33 billion. During the same period in the prior year, the company posted $2.03 earnings per share. The company’s revenue for the quarter was up 7.3% compared to the same quarter last year. Analysts forecast that STERIS plc will post 9.15 EPS for the current year.

STERIS Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Tuesday, November 19th will be given 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 of this dividend is Tuesday, November 19th. STERIS’s payout ratio is currently 52.05%.

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.