Strategic Wealth Partners Ltd. Sells 27,666 Shares of STERIS plc (NYSE:STE)

Strategic Wealth Partners Ltd. lessened its stake in shares of STERIS plc (NYSE:STE - Free Report) by 88.1% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,744 shares of the medical equipment provider's stock after selling 27,666 shares during the quarter. Strategic Wealth Partners Ltd.'s holdings in STERIS were worth $821,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of STE. Select Equity Group L.P. boosted its stake in STERIS by 165.3% during the fourth quarter. Select Equity Group L.P. now owns 2,599,730 shares of the medical equipment provider's stock valued at $534,400,000 after buying an additional 1,619,796 shares during the period. Norges Bank bought a new stake in shares of STERIS during the 4th quarter valued at about $238,836,000. Raymond James Financial Inc. purchased a new position in shares of STERIS during the fourth quarter worth about $223,987,000. Franklin Resources Inc. raised its stake in STERIS by 45.1% in the fourth quarter. Franklin Resources Inc. now owns 1,216,821 shares of the medical equipment provider's stock valued at $250,130,000 after purchasing an additional 378,252 shares in the last quarter. Finally, Wellington Management Group LLP lifted its position in STERIS by 4,534.6% during the fourth quarter. Wellington Management Group LLP now owns 219,032 shares of the medical equipment provider's stock valued at $45,024,000 after purchasing an additional 214,306 shares during the last quarter. 94.69% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. Needham & Company LLC reissued a "hold" rating on shares of STERIS in a research note on Monday, April 7th. Stephens restated an "overweight" rating and set a $250.00 target price on shares of STERIS in a report on Thursday, May 15th. Wall Street Zen upgraded STERIS from a "buy" rating to a "strong-buy" rating in a research report on Thursday. Morgan Stanley boosted their price objective on STERIS from $240.00 to $260.00 and gave the company an "equal weight" rating in a research report on Monday. Finally, JMP Securities raised their target price on shares of STERIS from $265.00 to $280.00 and gave the stock a "market outperform" rating in a report on Friday, May 16th. Two analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, STERIS currently has an average rating of "Moderate Buy" and an average target price of $264.00.

STERIS Stock Performance

STE stock traded down $2.72 during midday trading on Thursday, reaching $243.61. 540,889 shares of the company's stock traded hands, compared to its average volume of 543,669. The stock's 50-day moving average is $225.95 and its 200 day moving average is $220.00. The stock has a market cap of $23.93 billion, a P/E ratio of 51.72 and a beta of 0.96. STERIS plc has a 52-week low of $200.98 and a 52-week high of $252.79. The company has a current ratio of 2.13, a quick ratio of 1.40 and a debt-to-equity ratio of 0.32.

STERIS (NYSE:STE - Get Free Report) last issued its quarterly earnings results on Wednesday, May 14th. The medical equipment provider reported $2.74 earnings per share (EPS) for the quarter, topping 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 business had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.47 billion. During the same quarter in the prior year, the business posted $2.58 EPS. STERIS's revenue for the quarter was up 5.7% compared to the same quarter last year. As a group, analysts anticipate that STERIS plc will post 9.08 EPS for the current year.

STERIS Dividend Announcement

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

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.