Sone Capital Management LLC Makes New $6.77 Million Investment in STERIS plc (NYSE:STE)

Sone Capital Management LLC acquired a new position in shares of STERIS plc (NYSE:STE - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 32,909 shares of the medical equipment provider's stock, valued at approximately $6,765,000.

Several other institutional investors and hedge funds have also modified their holdings of STE. Park Avenue Securities LLC lifted its position in shares of STERIS by 5.6% during the 4th quarter. Park Avenue Securities LLC now owns 2,369 shares of the medical equipment provider's stock worth $487,000 after buying an additional 126 shares during the last quarter. Merit Financial Group LLC bought a new stake in shares of STERIS during the fourth quarter worth $260,000. Diversify Wealth Management LLC grew its stake in shares of STERIS by 42.0% during the fourth quarter. Diversify Wealth Management LLC now owns 5,994 shares of the medical equipment provider's stock worth $1,233,000 after buying an additional 1,772 shares during the last quarter. Strong Tower Advisory Services grew its stake in shares of STERIS by 13.6% during the fourth quarter. Strong Tower Advisory Services now owns 9,771 shares of the medical equipment provider's stock worth $2,009,000 after buying an additional 1,166 shares during the last quarter. Finally, Perpetual Ltd grew its stake in shares of STERIS by 8.2% during the fourth quarter. Perpetual Ltd now owns 45,254 shares of the medical equipment provider's stock worth $9,302,000 after buying an additional 3,414 shares during the last quarter. 94.69% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Citigroup reaffirmed an "outperform" rating on shares of STERIS in a research note on Friday, May 16th. Wall Street Zen raised shares of STERIS from a "buy" rating to a "strong-buy" rating in a research note on Thursday. Morgan Stanley raised their price objective on shares of STERIS from $240.00 to $260.00 and gave the company an "equal weight" rating in a report on Monday, May 19th. Stephens reiterated an "overweight" rating and issued a $250.00 price objective on shares of STERIS in a report on Thursday, May 15th. Finally, Needham & Company LLC reiterated a "hold" rating on shares of STERIS in a report on Monday, April 7th. Two analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $264.00.

STERIS Trading Down 0.2%

Shares of NYSE STE traded down $0.59 during trading on Friday, reaching $243.21. The company had a trading volume of 538,496 shares, compared to its average volume of 543,515. The company's fifty day moving average price is $225.95 and its 200-day moving average price is $220.00. STERIS plc has a 12 month low of $200.98 and a 12 month high of $252.79. The stock has a market cap of $23.90 billion, a P/E ratio of 51.64 and a beta of 0.96. The company has a quick ratio of 1.40, a current ratio of 2.13 and a debt-to-equity ratio of 0.32.

STERIS (NYSE:STE - Get Free Report) last released its quarterly earnings results on Wednesday, May 14th. The medical equipment provider reported $2.74 EPS for the quarter, beating analysts' consensus estimates of $2.59 by $0.15. STERIS had a return on equity of 13.91% and a net margin of 8.66%. The firm had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.47 billion. During the same quarter in the previous year, the company posted $2.58 EPS. The business's revenue was up 5.7% on a year-over-year basis. As a group, research analysts expect that STERIS plc will post 9.08 earnings per share for the current year.

STERIS Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 26th. Investors of record on Tuesday, June 10th will be paid a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a yield of 0.94%. The ex-dividend date is Tuesday, June 10th. STERIS's dividend payout ratio is presently 36.77%.

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.