Cullen Investment Group LTD. Acquires New Stake in STERIS plc (NYSE:STE)

Cullen Investment Group LTD. purchased a new position in shares of STERIS plc (NYSE:STE - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 6,146 shares of the medical equipment provider's stock, valued at approximately $1,351,000.

Other institutional investors have also recently bought and sold shares of the company. 1832 Asset Management L.P. acquired a new position in STERIS during the first quarter worth approximately $25,000. Millburn Ridgefield Corp bought a new stake in shares of STERIS during the third quarter worth approximately $25,000. Catalyst Capital Advisors LLC bought a new stake in shares of STERIS during the third quarter worth approximately $25,000. Global Wealth Management Investment Advisory Inc. bought a new stake in shares of STERIS during the third quarter worth approximately $49,000. Finally, NBC Securities Inc. bought a new stake in shares of STERIS during the third quarter worth approximately $50,000. Institutional investors and hedge funds own 94.69% of the company's stock.

STERIS Trading Down 1.3 %

STERIS stock traded down $2.74 during trading hours on Monday, reaching $201.26. 847,866 shares of the company's stock were exchanged, compared to its average volume of 446,509. The company has a quick ratio of 1.49, a current ratio of 2.43 and a debt-to-equity ratio of 0.50. The firm's 50 day simple moving average is $226.02 and its 200 day simple moving average is $218.13. STERIS plc has a twelve month low of $180.54 and a twelve month high of $254.00. The firm has a market capitalization of $19.89 billion, a PE ratio of 35.24 and a beta of 0.79.

STERIS (NYSE:STE - Get Free Report) last released its quarterly earnings data on Wednesday, February 7th. The medical equipment provider reported $2.22 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.17 by $0.05. STERIS had a net margin of 10.48% and a return on equity of 13.67%. The firm had revenue of $1.40 billion for the quarter, compared to analysts' expectations of $1.35 billion. During the same quarter in the previous year, the company earned $2.02 earnings per share. The company's revenue for the quarter was up 14.8% compared to the same quarter last year. Research analysts predict that STERIS plc will post 8.67 earnings per share for the current year.

STERIS Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 22nd. Investors of record on Friday, February 23rd were given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 1.03%. The ex-dividend date of this dividend was Thursday, February 22nd. STERIS's dividend payout ratio is currently 36.43%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on STE shares. TheStreet upgraded STERIS from a "c+" rating to a "b" rating in a report on Wednesday, February 7th. JMP Securities reiterated a "market outperform" rating and issued a $265.00 price target on shares of STERIS in a research note on Thursday, February 8th. Needham & Company LLC reiterated a "hold" rating on shares of STERIS in a research note on Friday. KeyCorp began coverage on STERIS in a research note on Tuesday, February 6th. They set an "overweight" rating and a $253.00 target price for the company. Finally, Stephens reiterated an "overweight" rating and set a $250.00 price target on shares of STERIS in a report on Friday, February 9th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $239.60.

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.