SYSTM Wealth Solutions LLC Reduces Stake in STERIS plc (NYSE:STE)

VaselineSeptember 20, 2024

0 4 minutes read

SYSTM Wealth Solutions LLC reduced its position in STERIS plc (NYSE:STE – Free Report) by 76.4% during the second quarter, HoldingsChannel reports. The firm owned 573 shares of the medical equipment provider’s stock after selling 1,855 shares during the quarter. SYSTM Wealth Solutions LLC’s holdings in STERIS were worth $126,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the company. Taylor Frigon Capital Management LLC lifted its position in STERIS by 0.8% in the second quarter. Taylor Frigon Capital Management LLC now owns 6,175 shares of the medical equipment provider’s stock valued at $1,356,000 after purchasing an additional 46 shares during the period. First Hawaiian Bank lifted its position in STERIS by 0.4% in the first quarter. First Hawaiian Bank now owns 13,857 shares of the medical equipment provider’s stock valued at $3,115,000 after acquiring an additional 50 shares during the period. J.Safra Asset Management Corp raised its stake in STERIS by 77.9% in the first quarter. J.Safra Asset Management Corp now owns 121 shares of the medical equipment provider’s stock worth $27,000 after acquiring an additional 53 shares during the last quarter. Mather Group LLC. grew its holdings in STERIS by 7.6% in the second quarter. Mather Group LLC. now owns 763 shares of the medical equipment provider’s stock worth $172,000 after purchasing an additional 54 shares during the period. Finally, EverSource Wealth Advisors LLC boosted its stake in STERIS by 16.5% in the first quarter. EverSource Wealth Advisors LLC now owns 402 shares of the medical equipment provider’s stock valued at $82,000 after purchasing an additional 57 shares in the last quarter. 94.69% of shares are currently owned by institutional investors.

Internal activity at STERIS

In other news, Director Christopher S. Holland sold 473 shares of the business’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $239.68, for a total transaction of $113,368.64. Following the completion of the sale, the director now owns 582 shares of the company’s stock, valued at approximately $139,493.76. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, Director Christopher S. Holland sold 473 shares of the firm’s stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $239.68, for a total transaction of $113,368.64. Following the completion of the transaction, the director now directly owns 582 shares in the company, valued at approximately $139,493.76. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Michael J. Tokich sold 23,332 shares of the business’s stock in a transaction that occurred on 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 sale, the chief financial officer now owns 42,930 shares in the company, valued at approximately $10,603,710. The disclosure for this sale can be found here. 1.14% of shares are currently owned by company insiders.

Analyst upgrades and downgrades

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STE has been the subject of several analyst reports. Stephens reissued an “overweight” rating and issued a $260.00 target price on shares of STERIS in a research report on Wednesday, August 7th. JMP Securities reissued a “market outperform” rating and issued a $265.00 target price on shares of STERIS in a research note on Wednesday, August 7th. KeyCorp upped their target price on STERIS from $255.00 to $265.00 and gave the company an “overweight” rating in a report on Tuesday, September 3rd. StockNews.com raised shares of STERIS from a “hold” rating to a “buy” rating in a research report on Tuesday, August 13th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of STERIS in a report on Thursday, August 8th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. STERIS presently has a consensus rating of “Moderate Buy” and an average price target of $246.00, based on data from MarketBeat.com.

Read our latest analysis of STE

STERIS stock performance

Shares of STE stock opened at $239.46 on Friday. 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 has a 50-day moving average price of $235.95 and a 200-day moving average price of $225.52. STERIS plc has a 52-week low of $195.47 and a 52-week high of $248.24. The firm has a market cap of $23.62 billion, a PE ratio of 62.69 and a beta of 0.83.

STERIS (NYSE:STE – Get Your Free Report ) last released its quarterly earnings results on Tuesday, August 6th. The medical equipment provider reported $2.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.98 by $0.16. The firm had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $1.27 billion. STERIS had a return on equity of 13.85% and a net margin of 7.36%. The company’s revenue for the quarter was down 0.4% on a year-over-year basis. During the same period last year, the business posted EPS of $2.00. As a group, equities research analysts expect that STERIS plc will post 9.05 earnings per share for the current year.

STERIS increases dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 20th. Stockholders of record on Thursday, September 5th will be paid a $0.57 dividend. This represents an annualized dividend of $2.28 and a dividend yield of 0.95%. The ex-dividend date of this dividend is Thursday, September 5. This is an increase from STERIS’s previous quarterly dividend of $0.52. STERIS’s dividend payout ratio is 59.69%.

STERIS profile

(Free report)

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 chemicals and sterility products; automated endoscope reprocessing system and tracking products; endoscopy accessories, washers, sterilizers and other capital parts for the operation of a sterile processing department; and equipment used directly in the operating room, including surgical tables, lighting and connectivity solutions, as well as equipment management services.