STERIS plc $STE Stock Holdings Cut by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA reduced its stake in shares of STERIS plc (NYSE:STE) by 15.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 203,913 shares of the medical equipment provider’s stock after selling 37,553 shares during the quarter. Pictet Asset Management Holding SA owned about 0.21% of STERIS worth $42,824,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of STE. Western Wealth Management LLC bought a new position in STERIS during the 1st quarter worth approximately $25,000. Compass Financial Management LLC bought a new stake in STERIS in the third quarter valued at approximately $25,000. Elevation Wealth Partners LLC increased its stake in STERIS by 1,130.0% in the second quarter. Elevation Wealth Partners LLC now owns 123 shares of the medical equipment provider’s stock valued at $26,000 after purchasing an additional 113 shares in the last quarter. Trust Co. of Vermont acquired a new stake in STERIS in the second quarter worth $41,000. Finally, Community Financial Services Group LLC raised its holdings in STERIS by 50.0% in the third quarter. Community Financial Services Group LLC now owns 216 shares of the medical equipment provider’s stock worth $45,000 after purchasing an additional 72 shares during the period. 94.69% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on STE shares. Piper Sandler reissued an “overweight” rating and set a $275.00 price target (up from $270.00) on shares of STERIS in a research report on Friday, August 7th. UBS Group lowered their price objective on shares of STERIS from $275.00 to $270.00 and set a “buy” rating for the company in a research report on Friday, August 7th. Wall Street Zen cut shares of STERIS from a “strong-buy” rating to a “buy” rating in a research report on Sunday, October 11th. Weiss Ratings raised STERIS from a “hold (c)” rating to a “hold (c+)” rating in a research note on Monday. Finally, KeyCorp raised their price objective on STERIS from $269.00 to $284.00 and gave the stock an “overweight” rating in a research note on Friday, November 6th. Three equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, STERIS has a consensus rating of “Moderate Buy” and an average target price of $276.33.

STERIS Stock Up 0.1%

STERIS stock opened at $257.23 on Wednesday. The company has a 50 day moving average of $221.55 and a 200-day moving average of $224.67. The company has a quick ratio of 1.44, a current ratio of 2.05 and a debt-to-equity ratio of 0.23. STERIS plc has a twelve month low of $195.14 and a twelve month high of $269.44. The stock has a market capitalization of $24.98 billion, a PE ratio of 30.51 and a beta of 0.86.

STERIS (NYSE:STE) last posted its quarterly earnings data on Wednesday, November 4th. The medical equipment provider reported $2.94 EPS for the quarter, beating the consensus estimate of $2.68 by $0.26. The business had revenue of $1.59 billion for the quarter, compared to analysts’ expectations of $1.56 billion. STERIS had a net margin of 13.41% and a return on equity of 14.80%. The firm’s revenue was up 8.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.47 EPS. On average, equities research analysts anticipate that STERIS plc will post 11.46 EPS for the current fiscal year.

STERIS Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 17th. Shareholders of record on Tuesday, November 17th will be given a dividend of $0.69 per share. The ex-dividend date of this dividend is Tuesday, November 17th. This represents a $2.76 dividend on an annualized basis and a yield of 1.1%. STERIS’s dividend payout ratio is 32.74%.

STERIS Company Profile

STERIS plc (NYSE: STE) provides infection prevention and procedural products and services for healthcare, pharmaceutical, research, and other industries. Its offerings include sterilizers, washers and other equipment used to clean and sterilize medical devices and surgical instruments, as well as products for operating rooms and endoscopy procedures. The company also provides equipment installation, maintenance, repair, and training, along with contract sterilization and laboratory testing services.