September 30, 2023
Daymark Wealth Partners LLC Increases Stake in STERIS plc
Asset management firm Daymark Wealth Partners LLC has disclosed that it has increased its position in STERIS plc (NYSE:STE) during the second quarter of this year. According to a recent filing with the Securities and Exchange Commission, Daymark now owns 6,278 shares of the medical equipment provider’s stock, representing a boost of 9.4% from the previous quarter. The company acquired an additional 539 shares during this period and reported holdings worth $1,412,000.
The rise in ownership by Daymark Wealth Partners LLC demonstrates their confidence in STERIS as an investment opportunity. This move suggests that Daymark believes STERIS has the potential for growth and may deliver favorable returns in the long run.
STERIS recently released its quarterly earnings data on August 1st. The medical equipment provider surpassed analysts’ consensus estimates by reporting earnings per share (EPS) of $2.00 for the quarter. This figure exceeded expectations by $0.14 per share, indicating strong financial performance during that period.
In addition to beating EPS estimates, STERIS also achieved a return on equity of 13.75%. Its net margin stood at 2.35%, highlighting its ability to generate profits after accounting for expenses and other costs associated with running the business.
During the second quarter, STERIS recorded revenue of $1.28 billion, surpassing analyst estimates of $1.21 billion. This represents an increase of 11.1% compared to the same period last year when the company earned $1.90 per share.
Equities analysts expect that STERIS plc will continue its positive trajectory and predict earning per share (EPS) of approximately 8.74 for the current fiscal year.
The recent report on STERIS provides valuable insights into its financial performance and prospects. Investors looking to stay informed about the company’s developments should consider reviewing the report to make informed investment decisions.
About STERIS:
STERIS plc operates as a medical equipment provider. The company offers a range of infection prevention and procedural products, including sterilizers, surgical tables, and lighting systems, among others. With its strong financial performance and promising outlook, STERIS continues to be an attractive choice for investors seeking exposure in the medical equipment sector.
Disclaimer: The information provided in this article is not financial advice and should not be considered as such. It is based on publicly available data and analysis, which may not be accurate or complete. Investors are advised to conduct their research and consult with a professional advisor before making any investment decisions.
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Institutional Investors Show Interest in STERIS Stock: An Overview of Recent Transactions and Analyst Ratings
Institutional investors have been making moves in the stock market, buying and selling shares of various companies across different sectors. Recently, there has been notable activity involving STERIS, a leading medical equipment provider. This article will delve into the details of these transactions and provide an overview of STERIS as a company.
Greenwood Capital Associates LLC, one of the institutional investors, increased its position in STERIS by 1.2% during the first quarter. The firm now owns 4,142 shares of STERIS stock worth $792,000. Meanwhile, Bowman & Co S.C., another institutional investor, lifted its position in STERIS by 2.1% during the second quarter. Bowman & Co S.C. currently holds 2,425 shares valued at $547,000.
SYSTM Wealth Solutions LLC also exhibited interest in STERIS, amassing 3,260 shares during the first quarter worth $623,000. In addition to these investments, Lumature Wealth Partners LLC saw fit to grow its position in STERIS by 2.1% during the fourth quarter. The firm acquired an additional 54 shares amounting to a total value of $492,000.
Furthermore, Czech National Bank decided to increase its holdings in STERIS by 0.5% during the second quarter and now owns 11,753 shares valued at $2,644,000. It is worth noting that institutional investors own a significant majority (92.91%) of STERIS’s stock.
As of Friday’s opening session on September 30th, STERIS stock was priced at $222.19 per share. Over the past fifty days leading up to this date, it had maintained an average moving price of $226.89 while showing stability over a longer two-hundred day period with an average moving price of $209.98.
Having experienced both a 52-week low of $159.21 and a 52-week high of $254.00, STERIS’s stock demonstrates considerable volatility within the span of a year. As of now, the company boasts a market capitalization of $21.95 billion and is subject to a PE ratio of 182.12 with a beta value of 0.85. With a current ratio of 2.29 and quick ratio of 1.42, STERIS maintains strong liquidity levels, while its debt-to-equity ratio stands at 0.46.
In terms of dividends, STERIS recently announced an increase in its quarterly payout on Friday, September 22nd. Investors who held shares as of Wednesday, September 6th were entitled to a dividend payment amounting to $0.52 per share, surpassing the previous value set at $0.47 per share. The ex-dividend date for this payout was on Tuesday, September 5th.
This enhanced dividend marks an annualized payout reaching $2.08 per share for investors and represents a yield of 0.94% based on the current stock price.
There have been several research firms offering their assessments regarding STERIS’s outlook and performance in the market recently. Stephens, for instance, reaffirmed an “overweight” rating on STERIS shares with a target price set at $250.00.
Meanwhile, StockNews.com initiated coverage on STERIS and assigned it a “buy” rating on Thursday, August 17th.
JMP Securities also expressed optimistic sentiments about the company by raising their target price from $240 to $265 and issuing a “market outperform” rating on Friday, September 1st.
Morgan Stanley adjusted their price target from $206 to $225 while maintaining an “equal weight” rating on Thursday, August 3rd.
Lastly, KeyCorp increased their price objective to $258 from $254 and maintained an “overweight” rating on Thursday, August 3rd.
In summary, STERIS has garnered attention from institutional investors who have been buying and selling its stocks. Its recent increase in quarterly dividend payments reflects the company’s commitment to providing value for its shareholders. Analysts have expressed favorable opinions on STERIS with an average rating of “Moderate Buy” and a consensus price target of $239.60 according to Bloomberg.com.
