WealthShield Partners LLC Grows Stake in STERIS plc (NYSE:STE)

WealthShield Partners LLC increased its holdings in shares of STERIS plc (NYSE:STE) by 3.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,571 shares of the medical equipment provider’s stock after purchasing an additional 261 shares during the quarter. WealthShield Partners LLC’s holdings in STERIS were worth $1,664,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of STE. Morgan Stanley lifted its holdings in STERIS by 70.7% in the fourth quarter. Morgan Stanley now owns 3,756,454 shares of the medical equipment provider’s stock valued at $693,780,000 after acquiring an additional 1,556,136 shares during the period. Norges Bank purchased a new position in shares of STERIS during the 4th quarter valued at about $153,900,000. Invesco Ltd. lifted its position in shares of STERIS by 89.8% during the 1st quarter. Invesco Ltd. now owns 953,983 shares of the medical equipment provider’s stock valued at $230,645,000 after buying an additional 451,235 shares in the last quarter. Envestnet Asset Management Inc. grew its stake in shares of STERIS by 58.4% during the 3rd quarter. Envestnet Asset Management Inc. now owns 586,380 shares of the medical equipment provider’s stock valued at $128,663,000 after acquiring an additional 216,113 shares during the period. Finally, Impax Asset Management Group plc purchased a new stake in STERIS in the 3rd quarter worth approximately $40,383,000. 94.69% of the stock is owned by institutional investors.

STERIS Price Performance

STE stock remained flat at $216.65 during mid-day trading on Thursday. 164,180 shares of the company’s stock traded hands, compared to its average volume of 419,045. The company has a market capitalization of $21.41 billion, a P/E ratio of 37.94 and a beta of 0.79. STERIS plc has a 1-year low of $180.54 and a 1-year high of $254.00. The company has a quick ratio of 1.49, a current ratio of 2.43 and a debt-to-equity ratio of 0.50. The firm’s 50-day moving average price is $227.20 and its 200-day moving average price is $218.82.

STERIS (NYSE:STE) last announced its earnings results 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. The firm had revenue of $1.40 billion for the quarter, compared to analysts’ expectations of $1.35 billion. STERIS had a net margin of 10.48% and a return on equity of 13.67%. The business’s revenue was up 14.8% compared to the same quarter last year. During the same period in the prior year, the company earned $2.02 EPS. As a group, analysts expect that STERIS plc will post 8.67 EPS for the current year.

STERIS Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 22nd. Investors of record on Friday, February 23rd were given a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 0.96%. The ex-dividend date of this dividend was Thursday, February 22nd. STERIS’s dividend payout ratio (DPR) is currently 36.43%.

Analyst Ratings Changes

STE has been the subject of a number of analyst reports. JMP Securities reissued a “market outperform” rating and issued a $265.00 price objective on shares of STERIS in a research note on Thursday, February 8th. KeyCorp started coverage on shares of STERIS in a report on Tuesday, February 6th. They issued an “overweight” rating and a $253.00 target price for the company. Stephens reaffirmed an “overweight” rating and issued a $250.00 target price on shares of STERIS in a report on Friday, February 9th. Finally, TheStreet raised shares of STERIS from a “c+” rating to a “b” rating in a report on Wednesday, February 7th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, STERIS has a consensus rating of “Moderate Buy” and a consensus target price of $239.60.

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.