M&T Bank Corp Sells 1,298 Shares of STERIS plc (NYSE:STE)

M&T Bank Corp decreased its holdings in STERIS plc (NYSE:STE) by 3.7% during the 4th quarter, HoldingsChannel reports. The firm owned 34,246 shares of the medical equipment provider’s stock after selling 1,298 shares during the quarter. M&T Bank Corp’s holdings in STERIS were worth $7,529,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of STE. Impax Asset Management Group plc increased its stake in shares of STERIS by 419.1% in the 4th quarter. Impax Asset Management Group plc now owns 964,935 shares of the medical equipment provider’s stock valued at $211,430,000 after purchasing an additional 779,038 shares during the last quarter. Envestnet Asset Management Inc. boosted its holdings 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 in the last quarter. Artemis Investment Management LLP acquired a new stake in shares of STERIS during the 4th quarter valued at $32,687,000. Jennison Associates LLC boosted its holdings in shares of STERIS by 60.2% during the 4th quarter. Jennison Associates LLC now owns 268,029 shares of the medical equipment provider’s stock valued at $58,926,000 after acquiring an additional 100,734 shares in the last quarter. Finally, Lord Abbett & CO. LLC boosted its holdings in shares of STERIS by 65.5% during the 3rd quarter. Lord Abbett & CO. LLC now owns 244,659 shares of the medical equipment provider’s stock valued at $53,683,000 after acquiring an additional 96,800 shares in the last quarter. Institutional investors own 94.69% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. JMP Securities reaffirmed a “market outperform” rating and set a $265.00 target price on shares of STERIS in a report on Thursday, February 8th. KeyCorp began coverage on STERIS in a research note on Tuesday, February 6th. They issued an “overweight” rating and a $253.00 price objective on the stock. TheStreet raised STERIS from a “c+” rating to a “b” rating in a research note on Wednesday, February 7th. StockNews.com downgraded STERIS from a “buy” rating to a “hold” rating in a research note on Friday. Finally, Stephens reissued an “overweight” rating and issued a $250.00 price objective on shares of STERIS in a research note on Friday, February 9th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $239.60.

STERIS Stock Performance

Shares of STERIS stock opened at $207.82 on Monday. STERIS plc has a one year low of $185.22 and a one year high of $254.00. The firm has a market capitalization of $20.53 billion, a price-to-earnings ratio of 36.40 and a beta of 0.81. The business has a 50-day simple moving average of $218.46 and a 200 day simple moving average of $216.09. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.43 and a quick ratio of 1.49.

STERIS (NYSE:STE) last issued its quarterly earnings data on Wednesday, February 7th. The medical equipment provider reported $2.22 EPS for the quarter, topping analysts’ consensus estimates of $2.17 by $0.05. The firm had revenue of $1.40 billion during the quarter, compared to analyst estimates of $1.35 billion. STERIS had a return on equity of 13.67% and a net margin of 10.48%. The company’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 posted $2.02 EPS. On average, research analysts anticipate that STERIS plc will post 8.67 earnings per share for the current fiscal year.

STERIS Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 26th. Shareholders of record on Wednesday, June 12th will be issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 1.00%. The ex-dividend date is Wednesday, June 12th. STERIS’s dividend payout ratio 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.