WCM Investment Management LLC Sells 563,375 Shares of STERIS plc (NYSE:STE)

WCM Investment Management LLC reduced its position in STERIS plc (NYSE:STE - Free Report) by 10.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,850,134 shares of the medical equipment provider's stock after selling 563,375 shares during the period. STERIS makes up about 3.0% of WCM Investment Management LLC's holdings, making the stock its 11th biggest holding. WCM Investment Management LLC owned approximately 4.91% of STERIS worth $1,075,469,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. Millburn Ridgefield Corp acquired a new stake in STERIS in the third quarter valued at $25,000. Catalyst Capital Advisors LLC acquired a new stake in shares of STERIS in the 3rd quarter valued at about $25,000. 1832 Asset Management L.P. bought a new position in shares of STERIS during the first quarter worth about $25,000. Global Wealth Management Investment Advisory Inc. acquired a new position in STERIS in the third quarter worth about $49,000. Finally, NBC Securities Inc. bought a new stake in STERIS in the third quarter valued at about $50,000. 94.69% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Needham & Company LLC reaffirmed a "hold" rating on shares of STERIS in a report on Friday. KeyCorp started coverage on shares of STERIS in a report on Tuesday, February 6th. They issued an "overweight" rating and a $253.00 price objective for the company. TheStreet raised shares of STERIS from a "c+" rating to a "b" rating in a report on Wednesday, February 7th. 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. Finally, Stephens reaffirmed an "overweight" rating and set a $250.00 price objective on shares of STERIS in a research report on Friday, February 9th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $239.60.

STERIS Stock Performance

Shares of STERIS stock traded down $2.28 during trading on Friday, hitting $204.00. 678,625 shares of the stock were exchanged, compared to its average volume of 483,475. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.49 and a current ratio of 2.43. STERIS plc has a 12 month low of $180.54 and a 12 month high of $254.00. The stock's fifty day moving average is $226.02 and its 200 day moving average is $218.16. The stock has a market cap of $20.16 billion, a PE ratio of 35.73 and a beta of 0.79.

STERIS (NYSE:STE - Get Free Report) last posted its earnings results on Wednesday, February 7th. The medical equipment provider reported $2.22 EPS for the quarter, topping the consensus estimate of $2.17 by $0.05. The firm had revenue of $1.40 billion during the quarter, compared to analysts' expectations of $1.35 billion. STERIS had a net margin of 10.48% and a return on equity of 13.67%. STERIS's quarterly revenue was up 14.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.02 EPS. As a group, sell-side analysts anticipate that STERIS plc will post 8.67 EPS for the current year.

STERIS Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 22nd. Shareholders of record on Friday, February 23rd were given a dividend of $0.52 per share. The ex-dividend date was Thursday, February 22nd. This represents a $2.08 dividend on an annualized basis and a yield of 1.02%. STERIS's dividend payout ratio (DPR) is presently 36.43%.

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.