Glassman Wealth Services Purchases Shares of 173 STERIS plc (NYSE:STE)

Glassman Wealth Services acquired a new position in STERIS plc (NYSE:STE) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 173 shares of the medical equipment provider’s stock, valued at approximately $38,000.

Several other large investors have also made changes to their positions in STE. Norges Bank acquired a new position in shares of STERIS during the fourth quarter worth approximately $220,954,000. Impax Asset Management Group plc increased its position in STERIS by 419.1% during the fourth quarter. Impax Asset Management Group plc now owns 964,935 shares of the medical equipment provider’s stock worth $211,430,000 after acquiring an additional 779,038 shares during the period. Envestnet Asset Management Inc. raised its stake in STERIS by 58.4% during the 3rd quarter. Envestnet Asset Management Inc. now owns 586,380 shares of the medical equipment provider’s stock valued at $128,663,000 after purchasing an additional 216,113 shares during the last quarter. Artemis Investment Management LLP bought a new stake in STERIS in the 4th quarter valued at $32,687,000. Finally, Findlay Park Partners LLP boosted its holdings in STERIS by 23.2% in the 4th quarter. Findlay Park Partners LLP now owns 604,952 shares of the medical equipment provider’s stock valued at $132,999,000 after purchasing an additional 113,936 shares during the period. Institutional investors and hedge funds own 94.69% of the company’s stock.

Analysts Set New Price Targets

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

STERIS Price Performance

Shares of STE traded up $1.24 during mid-day trading on Thursday, reaching $206.28. The company had a trading volume of 384,283 shares, compared to its average volume of 458,173. 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 has a market capitalization of $20.38 billion, a P/E ratio of 35.91 and a beta of 0.81. STERIS plc has a twelve month low of $185.22 and a twelve month high of $254.00. The company’s 50-day moving average is $219.61 and its 200-day moving average is $216.36.

STERIS (NYSE:STE) last released its quarterly earnings data 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 return on equity of 13.67% and a net margin of 10.48%. The firm had revenue of $1.40 billion during the quarter, compared to analyst estimates of $1.35 billion. During the same period in the prior year, the company posted $2.02 earnings per share. The business’s revenue for the quarter was up 14.8% compared to the same quarter last year. On average, equities analysts anticipate that STERIS plc will post 8.67 EPS for the current year.

STERIS Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 26th. Shareholders of record on Wednesday, June 12th will be given a $0.52 dividend. The ex-dividend date is Wednesday, June 12th. This represents a $2.08 dividend on an annualized basis and a yield of 1.01%. STERIS’s dividend payout ratio (DPR) 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.