Avity Investment Management Inc. Invests $212,000 in STERIS plc (NYSE:STE)

Avity Investment Management Inc. purchased a new position in shares of STERIS plc (NYSE:STE) during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 876 shares of the medical equipment provider’s stock, valued at approximately $212,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of STE. West Coast Financial LLC increased its stake in shares of STERIS by 2.8% in the third quarter. West Coast Financial LLC now owns 1,640 shares of the medical equipment provider’s stock valued at $398,000 after buying an additional 45 shares in the last quarter. Strong Tower Advisory Services increased its position in STERIS by 19.7% in the 3rd quarter. Strong Tower Advisory Services now owns 8,605 shares of the medical equipment provider’s stock valued at $2,087,000 after acquiring an additional 1,414 shares in the last quarter. Wedmont Private Capital bought a new position in shares of STERIS in the third quarter worth about $214,000. Daymark Wealth Partners LLC lifted its position in shares of STERIS by 384.6% during the third quarter. Daymark Wealth Partners LLC now owns 30,222 shares of the medical equipment provider’s stock worth $7,330,000 after purchasing an additional 23,985 shares in the last quarter. Finally, Strategic Wealth Partners Ltd. increased its holdings in shares of STERIS by 4.0% in the third quarter. Strategic Wealth Partners Ltd. now owns 31,410 shares of the medical equipment provider’s stock valued at $7,618,000 after purchasing an additional 1,219 shares in the last quarter. 94.69% of the stock is owned by institutional investors and hedge funds.

STERIS Trading Up 0.3 %

STERIS stock traded up $0.74 during mid-day trading on Friday, hitting $226.90. 361,081 shares of the company’s stock were exchanged, compared to its average volume of 471,930. The firm has a market capitalization of $22.43 billion, a P/E ratio of 59.40 and a beta of 0.84. The company has a quick ratio of 1.49, a current ratio of 2.33 and a debt-to-equity ratio of 0.35. The company’s 50 day simple moving average is $237.07 and its 200-day simple moving average is $225.80. STERIS plc has a fifty-two week low of $195.47 and a fifty-two week high of $248.24.

STERIS (NYSE:STE) last announced its quarterly earnings results on Tuesday, August 6th. The medical equipment provider reported $2.14 earnings per share for the quarter, beating analysts’ consensus estimates of $1.98 by $0.16. STERIS had a net margin of 7.36% and a return on equity of 13.85%. The firm had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.27 billion. During the same quarter in the previous year, the firm posted $2.00 earnings per share. The business’s revenue was down .4% on a year-over-year basis. On average, equities analysts anticipate that STERIS plc will post 9.06 earnings per share for the current year.

STERIS Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Stockholders of record on Thursday, September 5th were given a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a dividend yield of 1.00%. The ex-dividend date of this dividend was Thursday, September 5th. This is a positive change from STERIS’s previous quarterly dividend of $0.52. STERIS’s payout ratio is currently 59.69%.

Wall Street Analyst Weigh In

Several research firms have issued reports on STE. KeyCorp upped their price objective on STERIS from $255.00 to $265.00 and gave the stock an “overweight” rating in a report on Tuesday, September 3rd. Needham & Company LLC reiterated a “hold” rating on shares of STERIS in a research report on Thursday, August 8th. Stephens restated an “overweight” rating and set a $260.00 target price on shares of STERIS in a research report on Wednesday, August 7th. StockNews.com upgraded shares of STERIS from a “hold” rating to a “buy” rating in a research report on Tuesday, August 13th. Finally, JMP Securities restated a “market outperform” rating and issued a $265.00 price objective on shares of STERIS in a report on Wednesday, August 7th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, STERIS has an average rating of “Moderate Buy” and a consensus price target of $246.00.

Insider Activity at STERIS

In other STERIS news, CFO Michael J. Tokich sold 23,332 shares of the business’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 transaction, the chief financial officer now owns 42,930 shares of the company’s stock, valued at $10,603,710. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, Director Christopher S. Holland sold 473 shares of the stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $239.68, for a total value of $113,368.64. Following the transaction, the director now directly owns 582 shares of the company’s stock, valued at $139,493.76. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Michael J. Tokich sold 23,332 shares of the stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $247.00, for a total transaction of $5,763,004.00. Following the completion of the transaction, the chief financial officer now directly owns 42,930 shares in the company, valued at approximately $10,603,710. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.14% of the stock is owned by insiders.

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.