Williams Jones Wealth Management LLC. Sells 29,200 Shares of STERIS plc (NYSE:STE)

Williams Jones Wealth Management LLC. lessened its holdings in STERIS plc (NYSE:STE) by 4.9% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 561,568 shares of the medical equipment provider’s stock after selling 29,200 shares during the period. STERIS comprises approximately 1.4% of Williams Jones Wealth Management LLC.’s holdings, making the stock its 23rd biggest position. Williams Jones Wealth Management LLC.’s holdings in STERIS were worth $115,436,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the business. Mirae Asset Global Investments Co. Ltd. increased its holdings 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 buying an additional 2,583 shares during the last quarter. Merit Financial Group LLC purchased a new stake in shares of STERIS in the 4th quarter worth $260,000. Blue Trust Inc. increased its stake in shares of STERIS by 19.9% in the 4th quarter. Blue Trust Inc. now owns 1,128 shares of the medical equipment provider’s stock worth $232,000 after purchasing an additional 187 shares in the last quarter. Entropy Technologies LP bought a new position in STERIS in the 4th quarter worth $924,000. Finally, Park Avenue Securities LLC lifted its position in STERIS by 5.6% during the fourth quarter. Park Avenue Securities LLC now owns 2,369 shares of the medical equipment provider’s stock valued at $487,000 after purchasing an additional 126 shares in the last quarter. Institutional investors own 94.69% of the company’s stock.

STERIS Trading Up 0.3%

Shares of STE opened at $252.31 on Tuesday. The firm has a market cap of $24.79 billion, a P/E ratio of 53.57 and a beta of 0.96. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.13 and a quick ratio of 1.40. STERIS plc has a 1 year low of $200.98 and a 1 year high of $252.79. The company has a 50 day simple moving average of $224.69 and a two-hundred day simple moving average of $219.48.

STERIS (NYSE:STE) last issued its 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 during 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 revenue for the quarter was up 5.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.58 earnings per share. On average, equities analysts expect that STERIS plc will post 9.08 earnings per share for the current fiscal year.

STERIS Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 26th. Shareholders of record on Tuesday, June 10th will be issued a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a dividend 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 analyst reports. Stephens restated an “overweight” rating and issued a $250.00 price target on shares of STERIS in a research report on Thursday, May 15th. Citigroup reiterated an “outperform” rating on shares of STERIS in a research note on Friday. Piper Sandler lifted their price target on shares of STERIS from $260.00 to $265.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. JMP Securities increased their price objective on shares of STERIS from $265.00 to $280.00 and gave the stock a “market outperform” rating in a research note on Friday. Finally, Morgan Stanley lifted their target price on shares of STERIS from $240.00 to $260.00 and gave the company an “equal weight” rating in a research note on Monday. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $264.00.

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.