Legacy Wealth Asset Management LLC Has $753,000 Stock Position in STERIS plc (NYSE:STE)

Legacy Wealth Asset Management LLC reduced its position in shares of STERIS plc (NYSE:STE) by 3.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,662 shares of the medical equipment provider’s stock after selling 121 shares during the period. Legacy Wealth Asset Management LLC’s holdings in STERIS were worth $753,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Ashton Thomas Securities LLC acquired a new position in STERIS during the third quarter valued at approximately $25,000. Central Pacific Bank Trust Division acquired a new position in shares of STERIS during the third quarter worth $28,000. Brown Brothers Harriman & Co. increased its holdings in shares of STERIS by 154.7% during the second quarter. Brown Brothers Harriman & Co. now owns 191 shares of the medical equipment provider’s stock worth $42,000 after buying an additional 116 shares in the last quarter. Quarry LP acquired a new position in shares of STERIS during the third quarter worth $67,000. Finally, Asset Dedication LLC increased its holdings in shares of STERIS by 54.8% during the third quarter. Asset Dedication LLC now owns 291 shares of the medical equipment provider’s stock worth $71,000 after buying an additional 103 shares in the last quarter. 94.69% of the stock is currently owned by institutional investors and hedge funds.

STERIS Stock Performance

Shares of STE opened at $209.50 on Friday. The company has a current ratio of 2.41, a quick ratio of 1.55 and a debt-to-equity ratio of 0.33. The stock has a market capitalization of $20.68 billion, a P/E ratio of 47.83 and a beta of 0.84. The firm’s fifty day simple moving average is $212.04 and its two-hundred day simple moving average is $224.72. STERIS plc has a 12 month low of $197.82 and a 12 month high of $248.24.

STERIS (NYSE:STE) last issued its quarterly earnings results on Wednesday, November 6th. The medical equipment provider reported $2.14 EPS for the quarter, beating 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 business had revenue of $1.33 billion for the quarter, compared to analysts’ expectations of $1.33 billion. During the same quarter in the prior year, the firm posted $2.03 earnings per share. The business’s quarterly revenue was up 7.3% compared to the same quarter last year. As a group, analysts predict that STERIS plc will post 9.1 EPS for the current year.

STERIS Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 19th. Stockholders of record on Tuesday, November 19th were issued a dividend of $0.57 per share. The ex-dividend date of this dividend was Tuesday, November 19th. This represents a $2.28 annualized dividend and a dividend yield of 1.09%. STERIS’s dividend payout ratio is currently 52.05%.

Insider Activity

In other news, SVP Cary L. Majors sold 1,682 shares of the company’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $217.32, for a total transaction of $365,532.24. Following the transaction, the senior vice president now owns 11,372 shares in the company, valued at approximately $2,471,363.04. This represents a 12.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.14% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Needham & Company LLC reiterated a “hold” rating on shares of STERIS in a report on Friday, November 8th. Piper Sandler upgraded shares of STERIS from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $230.00 to $260.00 in a report on Thursday, October 24th. Stephens reissued an “overweight” rating and issued a $260.00 price objective on shares of STERIS in a research note on Thursday, November 7th. StockNews.com cut shares of STERIS from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, October 29th. Finally, JMP Securities reissued a “market outperform” rating and issued a $265.00 price objective on shares of STERIS in a research note on Monday, November 18th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, STERIS currently has an average rating of “Moderate Buy” and an average price target of $262.50.

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.