Fenimore Asset Management Inc. Increases Position in STERIS plc (NYSE:STE)

Fenimore Asset Management Inc. raised its position in STERIS plc (NYSE:STE) by 13.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 210,747 shares of the medical equipment provider’s stock after purchasing an additional 24,377 shares during the quarter. Fenimore Asset Management Inc.’s holdings in STERIS were worth $46,333,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Fifth Third Bancorp raised its position in STERIS by 9.7% in the third quarter. Fifth Third Bancorp now owns 3,041 shares of the medical equipment provider’s stock valued at $667,000 after purchasing an additional 268 shares during the period. Financiere des Professionnels Fonds d investissement inc. grew its stake in shares of STERIS by 12.9% in the fourth quarter. Financiere des Professionnels Fonds d investissement inc. now owns 45,095 shares of the medical equipment provider’s stock worth $9,914,000 after acquiring an additional 5,168 shares in the last quarter. Nordea Investment Management AB grew its stake in shares of STERIS by 3.4% in the fourth quarter. Nordea Investment Management AB now owns 6,301 shares of the medical equipment provider’s stock worth $1,388,000 after acquiring an additional 206 shares in the last quarter. Assenagon Asset Management S.A. grew its stake in shares of STERIS by 7.9% in the third quarter. Assenagon Asset Management S.A. now owns 16,219 shares of the medical equipment provider’s stock worth $3,559,000 after acquiring an additional 1,188 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its stake in shares of STERIS by 10.2% in the third quarter. JPMorgan Chase & Co. now owns 555,484 shares of the medical equipment provider’s stock worth $121,884,000 after acquiring an additional 51,229 shares in the last quarter. Hedge funds and other institutional investors own 94.69% of the company’s stock.

STERIS Stock Performance

NYSE STE traded down $4.97 during trading hours on Tuesday, hitting $216.06. The company had a trading volume of 415,894 shares, compared to its average volume of 422,786. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.49 and a current ratio of 2.43. STERIS plc has a 1-year low of $180.54 and a 1-year high of $254.00. The company has a market cap of $21.35 billion, a PE ratio of 38.12 and a beta of 0.79. The business has a 50 day moving average of $227.17 and a 200-day moving average of $218.93.

STERIS (NYSE:STE) last released its quarterly earnings data on Wednesday, February 7th. The medical equipment provider reported $2.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.17 by $0.05. STERIS had a net margin of 10.48% and a return on equity of 13.67%. The company had revenue of $1.40 billion during the quarter, compared to the consensus estimate of $1.35 billion. During the same quarter in the prior year, the firm posted $2.02 earnings per share. STERIS’s revenue for the quarter was up 14.8% on a year-over-year basis. As a group, equities research analysts expect that STERIS plc will post 8.67 EPS for the current year.

STERIS Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 22nd. Stockholders of record on Friday, February 23rd were issued a $0.52 dividend. The ex-dividend date was Thursday, February 22nd. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.96%. STERIS’s payout ratio is 36.43%.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Stephens restated an “overweight” rating and issued a $250.00 price target on shares of STERIS in a research note on Friday, February 9th. Morgan Stanley dropped their price target on shares of STERIS from $225.00 to $215.00 and set an “equal weight” rating for the company in a research note on Monday, December 4th. TheStreet upgraded shares of STERIS from a “c+” rating to a “b” rating in a research note on Wednesday, February 7th. KeyCorp initiated coverage on shares of STERIS in a research note on Tuesday, February 6th. They issued an “overweight” rating and a $253.00 price target for the company. Finally, JMP Securities reiterated a “market outperform” rating and set a $265.00 target price on shares of STERIS in a research note on Thursday, February 8th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $239.60.

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.