Cullen Investment Group LTD. Invests $1.35 Million in STERIS plc (NYSE:STE)

Cullen Investment Group LTD. bought a new position in shares of STERIS plc (NYSE:STE) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 6,146 shares of the medical equipment provider’s stock, valued at approximately $1,351,000.

A number of other institutional investors also recently modified their holdings of STE. Millburn Ridgefield Corp purchased a new stake in shares of STERIS during the third quarter worth about $25,000. Catalyst Capital Advisors LLC bought a new position in STERIS in the third quarter worth about $25,000. 1832 Asset Management L.P. bought a new position in STERIS in the first quarter worth about $25,000. Global Wealth Management Investment Advisory Inc. bought a new position in STERIS in the third quarter worth about $49,000. Finally, NBC Securities Inc. bought a new position in STERIS in the third quarter worth about $50,000. 94.69% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

STERIS Stock Down 0.2 %

Shares of STE traded down $0.47 on Monday, hitting $203.53. 113,882 shares of the stock traded hands, compared to its average volume of 435,977. The company has a market capitalization of $20.11 billion, a PE ratio of 35.73 and a beta of 0.79. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.49 and a current ratio of 2.43. The business has a 50 day simple moving average of $226.02 and a 200 day simple moving average of $218.12. STERIS plc has a one year low of $180.54 and a one year high of $254.00.

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

STERIS Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 22nd. Investors of record on Friday, February 23rd were given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 1.02%. The ex-dividend date was Thursday, February 22nd. STERIS’s dividend payout ratio (DPR) is currently 36.43%.

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.