Strategic Wealth Partners Ltd. Decreases Holdings in STERIS plc (NYSE:STE)

Strategic Wealth Partners Ltd. decreased its position in shares of STERIS plc (NYSE:STE) by 88.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,744 shares of the medical equipment provider’s stock after selling 27,666 shares during the period. Strategic Wealth Partners Ltd.’s holdings in STERIS were worth $821,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. lifted its position in STERIS by 30.8% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 10,970 shares of the medical equipment provider’s stock valued at $2,275,000 after acquiring an additional 2,583 shares during the last quarter. Merit Financial Group LLC purchased a new position in shares of STERIS in the fourth quarter worth $260,000. Blue Trust Inc. raised its holdings in shares of STERIS by 19.9% in the fourth quarter. Blue Trust Inc. now owns 1,128 shares of the medical equipment provider’s stock worth $232,000 after buying an additional 187 shares during the last quarter. Entropy Technologies LP purchased a new position in shares of STERIS in the fourth quarter worth $924,000. Finally, Park Avenue Securities LLC raised its holdings in shares of STERIS by 5.6% in the fourth quarter. Park Avenue Securities LLC now owns 2,369 shares of the medical equipment provider’s stock worth $487,000 after buying an additional 126 shares during the last quarter. Hedge funds and other institutional investors own 94.69% of the company’s stock.

STERIS Stock Performance

STE opened at $252.12 on Monday. The firm has a market capitalization of $24.77 billion, a PE ratio of 53.53 and a beta of 0.96. STERIS plc has a twelve month low of $200.98 and a twelve month high of $252.20. The firm’s 50-day moving average price is $224.13 and its 200 day moving average price is $219.31. The company has a current ratio of 2.13, a quick ratio of 1.40 and a debt-to-equity ratio of 0.32.

STERIS (NYSE:STE) last posted its quarterly earnings results on Wednesday, May 14th. The medical equipment provider reported $2.74 earnings per share for the quarter, topping analysts’ consensus estimates of $2.59 by $0.15. The firm had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.47 billion. STERIS had a net margin of 8.66% and a return on equity of 13.91%. STERIS’s quarterly revenue was up 5.7% on a year-over-year basis. During the same period in the previous year, the business posted $2.58 earnings per share. As a group, sell-side analysts expect that STERIS plc will post 9.08 EPS for the current fiscal year.

STERIS Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 26th. Shareholders of record on Tuesday, June 10th will be paid a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a yield of 0.90%. The ex-dividend date is Tuesday, June 10th. STERIS’s dividend payout ratio (DPR) is presently 36.77%.

Analysts Set New Price Targets

STE has been the subject of a number of research analyst reports. Piper Sandler raised their price target on shares of STERIS from $260.00 to $265.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. JMP Securities raised their price target on shares of STERIS from $265.00 to $280.00 and gave the stock a “market outperform” rating in a report on Friday. Stephens reissued an “overweight” rating and set a $250.00 target price on shares of STERIS in a report on Thursday. Needham & Company LLC reissued a “hold” rating on shares of STERIS in a report on Monday, April 7th. Finally, Citigroup reissued an “outperform” rating on shares of STERIS in a report on Friday. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $265.00.

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.