NewEdge Wealth LLC Invests $244,000 in STERIS plc (NYSE:STE)

NewEdge Wealth LLC purchased a new position in shares of STERIS plc (NYSE:STE) during the 4th quarter, HoldingsChannel reports. The institutional investor purchased 1,108 shares of the medical equipment provider’s stock, valued at approximately $244,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in STE. Millburn Ridgefield Corp acquired a new position in STERIS during the 3rd quarter worth about $25,000. Catalyst Capital Advisors LLC acquired a new position in STERIS during the 3rd quarter worth about $25,000. 1832 Asset Management L.P. acquired a new position in STERIS during the 1st quarter worth about $25,000. Global Wealth Management Investment Advisory Inc. acquired a new position in STERIS during the 3rd quarter valued at about $49,000. Finally, NBC Securities Inc. acquired a new position in STERIS during the 3rd quarter valued at about $50,000. Institutional investors and hedge funds own 94.69% of the company’s stock.

STERIS Stock Performance

Shares of STE stock opened at $200.71 on Friday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.49 and a current ratio of 2.43. The company has a market capitalization of $19.83 billion, a P/E ratio of 35.15 and a beta of 0.79. The company’s 50 day moving average price is $224.20 and its two-hundred day moving average price is $217.59. STERIS plc has a 52 week low of $180.54 and a 52 week high of $254.00.

STERIS (NYSE:STE) last announced 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 for the quarter, compared to the consensus estimate of $1.35 billion. STERIS had a net margin of 10.48% and a return on equity of 13.67%. The business’s quarterly revenue was up 14.8% on a year-over-year basis. During the same period last year, the company posted $2.02 EPS. On average, analysts expect that STERIS plc will post 8.67 earnings per share for the current fiscal year.

STERIS Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 22nd. Shareholders of record on Friday, February 23rd were issued a dividend of $0.52 per share. The ex-dividend date was Thursday, February 22nd. This represents a $2.08 annualized dividend and a yield of 1.04%. STERIS’s dividend payout ratio (DPR) is currently 36.43%.

Wall Street Analyst Weigh In

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