Blue Zone Wealth Advisors LLC Raises Stake in STERIS plc (NYSE:STE)

Blue Zone Wealth Advisors LLC lifted its position in shares of STERIS plc (NYSE:STE) by 8.7% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 28,028 shares of the medical equipment provider’s stock after buying an additional 2,240 shares during the quarter. STERIS makes up 1.8% of Blue Zone Wealth Advisors LLC’s investment portfolio, making the stock its 22nd largest position. Blue Zone Wealth Advisors LLC’s holdings in STERIS were worth $6,353,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of STE. Avalon Trust Co acquired a new stake in shares of STERIS in the fourth quarter worth approximately $30,000. Human Investing LLC purchased a new stake in shares of STERIS during the fourth quarter worth about $31,000. Anfield Capital Management LLC raised its holdings in STERIS by 100.0% in the fourth quarter. Anfield Capital Management LLC now owns 182 shares of the medical equipment provider’s stock valued at $37,000 after acquiring an additional 91 shares in the last quarter. Manchester Capital Management LLC raised its holdings in STERIS by 182.7% in the fourth quarter. Manchester Capital Management LLC now owns 212 shares of the medical equipment provider’s stock valued at $44,000 after acquiring an additional 137 shares in the last quarter. Finally, Brown Brothers Harriman & Co. raised its holdings in STERIS by 66.7% in the fourth quarter. Brown Brothers Harriman & Co. now owns 220 shares of the medical equipment provider’s stock valued at $45,000 after acquiring an additional 88 shares in the last quarter. 94.69% of the stock is currently owned by hedge funds and other institutional investors.

STERIS Price Performance

STE stock opened at $243.71 on Friday. The company has a current ratio of 2.13, a quick ratio of 1.40 and a debt-to-equity ratio of 0.32. STERIS plc has a one year low of $200.98 and a one year high of $252.79. The firm has a market capitalization of $23.97 billion, a PE ratio of 51.74 and a beta of 0.94. The firm has a 50-day moving average of $230.25 and a two-hundred day moving average of $221.76.

STERIS (NYSE:STE) last issued its earnings results on Wednesday, May 14th. The medical equipment provider reported $2.74 earnings per share for the quarter, beating analysts’ consensus estimates of $2.59 by $0.15. The company had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.47 billion. STERIS had a return on equity of 13.91% and a net margin of 8.66%. The firm’s quarterly revenue was up 5.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.58 EPS. On average, analysts forecast that STERIS plc will post 9.08 earnings per share for the current year.

STERIS Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 26th. Investors of record on Tuesday, June 10th will be issued a $0.57 dividend. The ex-dividend date is Tuesday, June 10th. This represents a $2.28 dividend on an annualized basis and a yield of 0.94%. STERIS’s dividend payout ratio is currently 36.77%.

Insider Buying and Selling

In related news, CEO Daniel A. Carestio sold 17,626 shares of the firm’s stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $242.56, for a total value of $4,275,362.56. Following the completion of the transaction, the chief executive officer now directly owns 51,385 shares of the company’s stock, valued at $12,463,945.60. This trade represents a 25.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Cary L. Majors sold 12,828 shares of the stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $250.08, for a total value of $3,208,026.24. Following the transaction, the senior vice president now owns 11,372 shares of the company’s stock, valued at $2,843,909.76. This represents a 53.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.14% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

STE has been the subject of several recent research reports. Wall Street Zen lowered shares of STERIS from a “strong-buy” rating to a “buy” rating in a research note on Friday, May 30th. Jefferies Financial Group began coverage on shares of STERIS in a research report on Thursday, May 29th. They set a “hold” rating and a $263.00 price target for the company. Citigroup reaffirmed an “outperform” rating on shares of STERIS in a report on Friday, May 16th. JMP Securities upped their price objective on shares of STERIS from $265.00 to $280.00 and gave the stock a “market outperform” rating in a report on Friday, May 16th. Finally, Needham & Company LLC reissued a “hold” rating on shares of STERIS in a report on Monday, April 7th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $263.83.

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.