Marks Group Wealth Management Inc Decreases Stock Holdings in STERIS plc (NYSE:STE)

Marks Group Wealth Management Inc lowered its stake in shares of STERIS plc (NYSE:STE) by 0.5% during the fourth quarter, Holdings Channel reports. 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 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. California Public Employees Retirement System boosted its holdings in STERIS by 1.2% during the fourth quarter. California Public Employees Retirement System now owns 180,934 shares of the medical equipment provider’s stock worth $39,778,000 after buying an additional 2,167 shares in the last quarter. Jennison Associates LLC boosted its holdings in STERIS by 60.2% during the fourth quarter. Jennison Associates LLC now owns 268,029 shares of the medical equipment provider’s stock worth $58,926,000 after buying an additional 100,734 shares in the last quarter. Handelsbanken Fonder AB boosted its holdings in STERIS by 70.3% during the fourth quarter. Handelsbanken Fonder AB now owns 35,972 shares of the medical equipment provider’s stock worth $7,908,000 after buying an additional 14,850 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in STERIS by 1.7% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 9,092 shares of the medical equipment provider’s stock worth $1,999,000 after buying an additional 148 shares in the last quarter. Finally, abrdn plc boosted its holdings in STERIS by 27.0% during the fourth quarter. abrdn plc now owns 251,044 shares of the medical equipment provider’s stock worth $55,192,000 after buying an additional 53,444 shares in the last quarter. Hedge funds and other institutional investors own 94.69% of the company’s stock.

STERIS Stock Performance

NYSE:STE opened at $205.95 on Wednesday. The firm has a 50 day simple moving average of $222.85 and a 200-day simple moving average of $217.16. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.43 and a quick ratio of 1.49. The firm has a market cap of $20.35 billion, a PE ratio of 36.07 and a beta of 0.79. STERIS plc has a 1-year low of $180.54 and a 1-year high of $254.00.

STERIS (NYSE:STE) last posted its quarterly earnings data on Wednesday, February 7th. The medical equipment provider reported $2.22 earnings per share for the quarter, beating analysts’ consensus estimates of $2.17 by $0.05. The business had revenue of $1.40 billion during 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 company’s revenue was up 14.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.02 earnings per share. On average, equities analysts expect that STERIS plc will post 8.67 EPS for the current year.

STERIS Announces Dividend

The business 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 yield of 1.01%. The ex-dividend date of this dividend was Thursday, February 22nd. STERIS’s dividend payout ratio (DPR) is 36.43%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on STE shares. 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. Stephens reaffirmed an “overweight” rating and issued a $250.00 price target on shares of STERIS in a report on Friday, February 9th. Needham & Company LLC reaffirmed a “hold” rating on shares of STERIS in a report on Friday, April 12th. KeyCorp started coverage on shares of STERIS in a report on Tuesday, February 6th. They issued an “overweight” rating and a $253.00 price target on the stock. Finally, TheStreet raised shares of STERIS from a “c+” rating to a “b” rating in a report on Wednesday, February 7th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, STERIS currently has an average 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.