Blue Zone Wealth Advisors LLC Has $5.39 Million Stake in STERIS plc (NYSE:STE)

Blue Zone Wealth Advisors LLC reduced its position in shares of STERIS plc (NYSE:STE) by 1.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 24,533 shares of the medical equipment provider’s stock after selling 404 shares during the quarter. STERIS accounts for 1.9% of Blue Zone Wealth Advisors LLC’s investment portfolio, making the stock its 15th biggest holding. Blue Zone Wealth Advisors LLC’s holdings in STERIS were worth $5,386,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. Vanguard Group Inc. lifted its stake in STERIS by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 11,864,606 shares of the medical equipment provider’s stock worth $2,608,434,000 after acquiring an additional 53,526 shares in the last quarter. Massachusetts Financial Services Co. MA grew its position in STERIS by 1.3% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 5,811,818 shares of the medical equipment provider’s stock valued at $1,277,728,000 after purchasing an additional 77,152 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in STERIS by 7.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,738,630 shares of the medical equipment provider’s stock valued at $390,880,000 after purchasing an additional 120,616 shares in the last quarter. Sustainable Growth Advisers LP increased its stake in STERIS by 23.5% in the 1st quarter. Sustainable Growth Advisers LP now owns 1,485,578 shares of the medical equipment provider’s stock valued at $333,988,000 after buying an additional 282,387 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in STERIS by 3.4% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,009,157 shares of the medical equipment provider’s stock worth $226,879,000 after buying an additional 32,755 shares in the last quarter. Hedge funds and other institutional investors own 94.69% of the company’s stock.

Insider Buying and Selling

In other STERIS news, Director Jacqueline B. Kosecoff sold 4,584 shares of the stock in a transaction on Monday, May 13th. The shares were sold at an average price of $231.53, for a total value of $1,061,333.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, VP Renato Tamaro sold 1,154 shares of the business’s stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $231.64, for a total transaction of $267,312.56. Following the sale, the vice president now directly owns 6,677 shares in the company, valued at $1,546,660.28. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Jacqueline B. Kosecoff sold 4,584 shares of the firm’s stock in a transaction on Monday, May 13th. The stock was sold at an average price of $231.53, for a total value of $1,061,333.52. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 7,762 shares of company stock valued at $1,798,477. 1.14% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the stock. Piper Sandler reaffirmed a “neutral” rating and issued a $225.00 price target (up from $220.00) on shares of STERIS in a research note on Friday, May 10th. Stephens reiterated an “overweight” rating and set a $260.00 price target on shares of STERIS in a report on Wednesday. StockNews.com cut STERIS from a “buy” rating to a “hold” rating in a research note on Monday, August 5th. Needham & Company LLC reiterated a “hold” rating on shares of STERIS in a research note on Thursday. Finally, JMP Securities reissued a “market outperform” rating and issued a $265.00 target price on shares of STERIS in a research report on Wednesday. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, STERIS presently has an average rating of “Hold” and a consensus target price of $243.60.

STERIS Stock Performance

Shares of NYSE:STE traded down $3.70 during trading on Friday, reaching $235.98. The stock had a trading volume of 427,048 shares, compared to its average volume of 488,756. The stock has a fifty day simple moving average of $225.43 and a two-hundred day simple moving average of $223.04. The company has a quick ratio of 2.36, a current ratio of 3.08 and a debt-to-equity ratio of 0.49. STERIS plc has a 52 week low of $195.47 and a 52 week high of $243.37. The firm has a market capitalization of $23.33 billion, a price-to-earnings ratio of 61.77 and a beta of 0.83.

STERIS (NYSE:STE) last announced its earnings results on Tuesday, August 6th. The medical equipment provider reported $2.14 EPS for the quarter, topping the consensus estimate of $1.98 by $0.16. STERIS had a net margin of 7.36% and a return on equity of 13.89%. The firm had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $1.27 billion. During the same quarter last year, the firm posted $2.00 EPS. The business’s quarterly revenue was down .4% on a year-over-year basis. As a group, analysts anticipate that STERIS plc will post 9.16 earnings per share for the current fiscal year.

STERIS Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 20th. Investors of record on Thursday, September 5th will be given a dividend of $0.57 per share. The ex-dividend date of this dividend is Thursday, September 5th. This represents a $2.28 dividend on an annualized basis and a yield of 0.97%. This is a positive change from STERIS’s previous quarterly dividend of $0.52. STERIS’s payout ratio is 59.69%.

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.