Jennison Associates LLC Increases Stock Position in STERIS plc (NYSE:STE)

Jennison Associates LLC raised its position in STERIS plc (NYSE:STE - Free Report) by 60.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 268,029 shares of the medical equipment provider's stock after buying an additional 100,734 shares during the period. Jennison Associates LLC owned 0.27% of STERIS worth $58,926,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Millburn Ridgefield Corp bought a new stake in STERIS in the third quarter valued at approximately $25,000. Catalyst Capital Advisors LLC acquired a new position in STERIS during the third quarter worth $25,000. Global Wealth Management Investment Advisory Inc. acquired a new position in STERIS during the third quarter worth $49,000. NBC Securities Inc. acquired a new position in STERIS during the third quarter worth $50,000. Finally, Exchange Traded Concepts LLC acquired a new position in STERIS during the third quarter worth $54,000. 94.69% of the stock is currently owned by institutional investors and hedge funds.

STERIS Trading Down 1.5 %

NYSE:STE traded down $3.19 during mid-day trading on Wednesday, hitting $202.80. 492,086 shares of the company's stock were exchanged, compared to its average volume of 464,131. The company has a 50 day simple moving average of $222.36 and a 200-day simple moving average of $217.06. The company has a current ratio of 2.43, a quick ratio of 1.49 and a debt-to-equity ratio of 0.50. STERIS plc has a fifty-two week low of $180.54 and a fifty-two week high of $254.00. The firm has a market capitalization of $20.04 billion, a P/E ratio of 35.52 and a beta of 0.79.

STERIS (NYSE:STE - Get Free Report) last issued its quarterly earnings results on Wednesday, February 7th. The medical equipment provider reported $2.22 earnings per share (EPS) for the quarter, topping 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 the consensus estimate of $1.35 billion. During the same quarter in the previous year, the company earned $2.02 EPS. The company's revenue for the quarter was up 14.8% on a year-over-year basis. As a group, research analysts expect that STERIS plc will post 8.67 earnings per share for the current year.

STERIS Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 22nd. Stockholders of record on Friday, February 23rd were paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.03%. The ex-dividend date was Thursday, February 22nd. STERIS's dividend payout ratio is currently 36.43%.

Wall Street Analyst Weigh In

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

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.