Mackenzie Financial Corp Cuts Position in STERIS plc (NYSE:STE)

Mackenzie Financial Corp lessened its stake in STERIS plc (NYSE:STE) by 96.6% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,513 shares of the medical equipment provider’s stock after selling 273,635 shares during the quarter. Mackenzie Financial Corp’s holdings in STERIS were worth $2,091,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Cullen Investment Group LTD. purchased a new position in STERIS during the 4th quarter valued at about $1,351,000. Strs Ohio increased its holdings in STERIS by 16.4% during the 4th quarter. Strs Ohio now owns 60,496 shares of the medical equipment provider’s stock valued at $13,300,000 after acquiring an additional 8,518 shares in the last quarter. Louisiana State Employees Retirement System purchased a new position in STERIS during the 4th quarter valued at about $1,319,000. NewEdge Wealth LLC purchased a new position in STERIS during the 4th quarter valued at about $244,000. Finally, Cerity Partners LLC increased its holdings in STERIS by 5,199.4% during the 4th quarter. Cerity Partners LLC now owns 65,925 shares of the medical equipment provider’s stock valued at $14,494,000 after acquiring an additional 64,681 shares in the last quarter. 94.69% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

STERIS Price Performance

STE opened at $205.95 on Wednesday. The company’s 50 day simple moving average is $222.85 and its 200 day simple moving average is $217.16. 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 1 year low of $180.54 and a 1 year high of $254.00. The stock has a market capitalization of $20.35 billion, a PE ratio of 36.07 and a beta of 0.79.

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

STERIS Dividend Announcement

The business also recently announced 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 was Thursday, February 22nd. This represents a $2.08 annualized dividend and a dividend yield of 1.01%. STERIS’s dividend payout ratio 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.