Marks Group Wealth Management Inc Cuts Stock Position in STERIS plc (NYSE:STE)

Marks Group Wealth Management Inc lessened its holdings in STERIS plc (NYSE:STE) by 0.5% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 32,512 shares of the medical equipment provider’s stock after selling 160 shares during the period. Marks Group Wealth Management Inc’s holdings in STERIS were worth $7,148,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Millburn Ridgefield Corp purchased a new position in shares of STERIS during the third quarter valued at about $25,000. Catalyst Capital Advisors LLC purchased a new position in shares of STERIS during the third quarter valued at about $25,000. Global Wealth Management Investment Advisory Inc. purchased a new position in shares of STERIS during the third quarter valued at about $49,000. NBC Securities Inc. purchased a new position in shares of STERIS during the third quarter valued at about $50,000. Finally, Exchange Traded Concepts LLC purchased a new position in shares of STERIS during the third quarter valued at about $54,000. Hedge funds and other institutional investors own 94.69% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently commented on STE. Stephens reaffirmed an “overweight” rating and issued a $250.00 price target on shares of STERIS in a report on Friday, February 9th. JMP Securities reaffirmed a “market outperform” rating and issued a $265.00 price target on shares of STERIS in a report on Thursday, February 8th. Needham & Company LLC reaffirmed a “hold” rating on shares of STERIS in a report on Friday, April 12th. KeyCorp began coverage on shares of STERIS in a report on Tuesday, February 6th. They issued an “overweight” rating and a $253.00 price target for the company. Finally, TheStreet raised shares of STERIS from a “c+” rating to a “b” rating in a research note on Wednesday, February 7th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $239.60.

STERIS Stock Performance

Shares of STE stock opened at $205.95 on Wednesday. The firm has a market cap of $20.35 billion, a price-to-earnings ratio of 36.07 and a beta of 0.79. The company’s 50 day moving average is $222.85 and its 200 day moving average is $217.16. The company has a quick ratio of 1.49, a current ratio of 2.43 and a debt-to-equity ratio of 0.50. STERIS plc has a 52-week low of $180.54 and a 52-week high of $254.00.

STERIS (NYSE:STE) last released its quarterly earnings results on Wednesday, February 7th. The medical equipment provider reported $2.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.17 by $0.05. The business had revenue of $1.40 billion for the quarter, compared to analyst estimates of $1.35 billion. STERIS had a net margin of 10.48% and a return on equity of 13.67%. The business’s revenue for the quarter was up 14.8% on a year-over-year basis. During the same period in the previous year, the company earned $2.02 earnings per share. On average, sell-side analysts anticipate that STERIS plc will post 8.67 EPS for the current fiscal year.

STERIS Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 22nd. Stockholders of record on Friday, February 23rd were given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.01%. The ex-dividend date was Thursday, February 22nd. STERIS’s payout ratio is presently 36.43%.

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.