Zurcher Kantonalbank Zurich Cantonalbank Buys 4,371 Shares of STERIS plc (NYSE:STE)

Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of STERIS plc (NYSE:STE - Free Report) by 11.5% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 42,445 shares of the medical equipment provider's stock after purchasing an additional 4,371 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank's holdings in STERIS were worth $9,332,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Morgan Stanley lifted its position in shares of STERIS by 70.7% in the fourth quarter. Morgan Stanley now owns 3,756,454 shares of the medical equipment provider's stock worth $693,780,000 after buying an additional 1,556,136 shares in the last quarter. Norges Bank purchased a new position in shares of STERIS in the 4th quarter worth approximately $153,900,000. Impax Asset Management Group plc boosted its holdings in shares of STERIS by 419.1% in the 4th quarter. Impax Asset Management Group plc now owns 964,935 shares of the medical equipment provider's stock worth $211,430,000 after purchasing an additional 779,038 shares during the period. Invesco Ltd. boosted its holdings in shares of STERIS by 89.8% in the 1st quarter. Invesco Ltd. now owns 953,983 shares of the medical equipment provider's stock worth $230,645,000 after purchasing an additional 451,235 shares during the period. Finally, Envestnet Asset Management Inc. lifted its stake in shares of STERIS by 58.4% during the 3rd quarter. Envestnet Asset Management Inc. now owns 586,380 shares of the medical equipment provider's stock worth $128,663,000 after acquiring an additional 216,113 shares during the last quarter. Institutional investors own 94.69% of the company's stock.

STERIS Price Performance

NYSE STE traded down $1.30 during trading hours on Friday, reaching $199.51. The company's stock had a trading volume of 535,935 shares, compared to its average volume of 580,022. The firm has a market capitalization of $19.71 billion, a price-to-earnings ratio of 34.94 and a beta of 0.79. STERIS plc has a 1-year low of $180.54 and a 1-year high of $254.00. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.43 and a quick ratio of 1.49. The company's 50-day moving average is $223.71 and its two-hundred day moving average is $217.44.

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

STERIS Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 22nd. Investors of record on Friday, February 23rd were given a $0.52 dividend. The ex-dividend date of this dividend was Thursday, February 22nd. This represents a $2.08 annualized dividend and a yield of 1.04%. STERIS's payout ratio is 36.43%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on STE. TheStreet raised STERIS from a "c+" rating to a "b" rating in a research report on Wednesday, February 7th. Stephens reissued an "overweight" rating and issued a $250.00 price target on shares of STERIS in a research report on Friday, February 9th. Needham & Company LLC reissued a "hold" rating on shares of STERIS in a research report on Friday, April 12th. KeyCorp began coverage on STERIS in a research report on Tuesday, February 6th. They issued an "overweight" rating and a $253.00 price target for the company. Finally, JMP Securities restated a "market outperform" rating and set a $265.00 target price on shares of STERIS in a research note on Thursday, February 8th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, STERIS presently has a consensus rating of "Moderate Buy" and an average target price of $239.60.

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.