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

Strategic Wealth Partners Ltd. trimmed its stake in STERIS plc (NYSE:STE) by 88.1% during the fourth quarter, Holdings Channel.com reports. 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 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Avalon Trust Co purchased a new stake in shares of STERIS in the 4th quarter valued at approximately $30,000. Human Investing LLC purchased a new stake in STERIS during the 4th quarter worth approximately $31,000. Anfield Capital Management LLC increased its stake in STERIS by 100.0% during the 4th quarter. Anfield Capital Management LLC now owns 182 shares of the medical equipment provider’s stock worth $37,000 after buying an additional 91 shares during the period. Manchester Capital Management LLC increased its stake in STERIS by 182.7% during the 4th quarter. Manchester Capital Management LLC now owns 212 shares of the medical equipment provider’s stock worth $44,000 after buying an additional 137 shares during the period. Finally, Brown Brothers Harriman & Co. increased its stake in STERIS by 66.7% during the 4th quarter. Brown Brothers Harriman & Co. now owns 220 shares of the medical equipment provider’s stock worth $45,000 after buying an additional 88 shares during the period. 94.69% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

STE has been the subject of several analyst reports. Citigroup reiterated an “outperform” rating on shares of STERIS in a report on Friday. JMP Securities boosted 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. Needham & Company LLC reiterated a “hold” rating on shares of STERIS in a report on Monday, April 7th. Piper Sandler boosted 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. Finally, Stephens reiterated an “overweight” rating and set a $250.00 price target on shares of STERIS in a report on Thursday. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $265.00.

STERIS Trading Up 2.1%

Shares of STERIS stock opened at $252.12 on Monday. The company has a fifty day simple moving average of $224.13 and a 200-day simple moving average of $219.31. STERIS plc has a 12-month low of $200.98 and a 12-month high of $252.20. The company has a current ratio of 2.13, a quick ratio of 1.40 and a debt-to-equity ratio of 0.32. The stock has a market cap of $24.77 billion, a price-to-earnings ratio of 53.53 and a beta of 0.96.

STERIS (NYSE:STE) last issued 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 during the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.58 EPS. On average, equities analysts forecast that STERIS plc will post 9.08 EPS for the current fiscal year.

STERIS Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 26th. Investors 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 is currently 36.77%.

STERIS Company 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.