WCM Investment Management LLC Grows Stake in STERIS plc (NYSE:STE)

WCM Investment Management LLC grew its holdings in shares of STERIS plc (NYSE:STE - Free Report) by 0.2% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 4,504,587 shares of the medical equipment provider's stock after acquiring an additional 7,396 shares during the period. STERIS comprises 2.6% of WCM Investment Management LLC's holdings, making the stock its 16th largest holding. WCM Investment Management LLC owned about 4.58% of STERIS worth $1,004,523,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. QRG Capital Management Inc. increased its position in STERIS by 32.9% during the 4th quarter. QRG Capital Management Inc. now owns 1,273 shares of the medical equipment provider's stock valued at $262,000 after purchasing an additional 315 shares during the period. Metis Global Partners LLC boosted its stake in shares of STERIS by 24.3% in the 4th quarter. Metis Global Partners LLC now owns 6,772 shares of the medical equipment provider's stock valued at $1,392,000 after purchasing an additional 1,322 shares during the last quarter. Jones Financial Companies Lllp increased its position in shares of STERIS by 19.4% during the fourth quarter. Jones Financial Companies Lllp now owns 757 shares of the medical equipment provider's stock worth $156,000 after buying an additional 123 shares during the period. Fidelis Capital Partners LLC grew its holdings in STERIS by 8.9% during the 4th quarter. Fidelis Capital Partners LLC now owns 1,032 shares of the medical equipment provider's stock worth $225,000 after acquiring an additional 84 shares during the period. Finally, Steward Partners Investment Advisory LLC increased its holdings in STERIS by 2.3% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 29,925 shares of the medical equipment provider's stock worth $6,151,000 after purchasing an additional 683 shares in the last quarter. Institutional investors and hedge funds own 94.69% of the company's stock.

STERIS Stock Performance

STERIS stock traded down $4.69 during midday trading on Wednesday, reaching $237.97. The stock had a trading volume of 548,174 shares, compared to its average volume of 548,285. The company has a quick ratio of 1.39, a current ratio of 1.96 and a debt-to-equity ratio of 0.29. The firm has a market capitalization of $23.41 billion, a PE ratio of 38.38 and a beta of 0.92. STERIS plc has a 12 month low of $200.98 and a 12 month high of $252.79. The firm's 50-day moving average price is $237.12 and its 200 day moving average price is $224.59.

STERIS (NYSE:STE - Get Free Report) last posted its quarterly earnings results on Wednesday, May 14th. The medical equipment provider reported $2.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.59 by $0.15. The company had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.47 billion. STERIS had a net margin of 11.26% and a return on equity of 14.21%. The company's quarterly revenue was up 5.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.58 earnings per share. As a group, research analysts predict that STERIS plc will post 9.08 earnings per share for the current fiscal year.

STERIS Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, June 26th. Shareholders of record on Tuesday, June 10th were given a dividend of $0.57 per share. The ex-dividend date was Tuesday, June 10th. This represents a $2.28 annualized dividend and a dividend yield of 0.96%. STERIS's dividend payout ratio is currently 36.77%.

Insiders Place Their Bets

In other STERIS news, SVP Cary L. Majors sold 12,828 shares of STERIS stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $250.08, for a total transaction of $3,208,026.24. Following the completion of the transaction, the senior vice president owned 11,372 shares of the company's stock, valued at $2,843,909.76. The trade was a 53.01% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Daniel A. Carestio sold 17,626 shares of the company's stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $242.56, for a total value of $4,275,362.56. Following the sale, the chief executive officer owned 51,385 shares in the company, valued at approximately $12,463,945.60. This represents a 25.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.07% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on STE. Jefferies Financial Group initiated coverage on shares of STERIS in a research note on Thursday, May 29th. They issued a "hold" rating and a $263.00 price target for the company. Needham & Company LLC restated a "hold" rating on shares of STERIS in a report on Monday, April 7th. Morgan Stanley boosted their price objective on STERIS from $240.00 to $260.00 and gave the stock an "equal weight" rating in a research report on Monday, May 19th. Stephens reiterated an "overweight" rating and issued a $250.00 target price on shares of STERIS in a research note on Thursday, May 15th. Finally, JMP Securities increased their target price on shares of STERIS from $265.00 to $280.00 and gave the company a "market outperform" rating in a research report on Friday, May 16th. Three analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, STERIS presently has a consensus rating of "Moderate Buy" and an average target price of $263.83.

STERIS 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.