Simplicity Solutions LLC Cuts Stake in STERIS plc (NYSE:STE)

Simplicity Solutions LLC reduced its stake in STERIS plc (NYSE:STE) by 8.1% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 1,453 shares of the medical equipment provider’s stock after selling 128 shares during the quarter. Simplicity Solutions LLC’s holdings in STERIS were worth $319,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in STE. Vanguard Group Inc. raised its stake in STERIS by 1.3% in the 1st quarter. Vanguard Group Inc. now owns 11,525,769 shares of the medical equipment provider’s stock valued at $2,786,586,000 after acquiring an additional 143,253 shares during the period. State Street Corp raised its stake in STERIS by 0.4% in the 1st quarter. State Street Corp now owns 4,229,089 shares of the medical equipment provider’s stock valued at $1,022,467,000 after acquiring an additional 17,292 shares during the period. Morgan Stanley raised its stake in STERIS by 70.7% in the 4th quarter. Morgan Stanley now owns 3,756,454 shares of the medical equipment provider’s stock valued at $693,780,000 after acquiring an additional 1,556,136 shares during the period. Price T Rowe Associates Inc. MD raised its stake in STERIS by 4.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,364,283 shares of the medical equipment provider’s stock valued at $436,660,000 after acquiring an additional 107,474 shares during the period. Finally, Bank of America Corp DE raised its stake in STERIS by 4.5% in the 1st quarter. Bank of America Corp DE now owns 1,295,162 shares of the medical equipment provider’s stock valued at $247,739,000 after acquiring an additional 55,566 shares during the period. 94.69% of the stock is owned by hedge funds and other institutional investors.

STERIS Stock Down 0.6 %

STE stock opened at $199.62 on Friday. The company has a current ratio of 2.43, a quick ratio of 1.49 and a debt-to-equity ratio of 0.50. The company’s 50 day moving average is $223.71 and its 200 day moving average is $217.48. The stock has a market cap of $19.72 billion, a price-to-earnings ratio of 34.96 and a beta of 0.79. STERIS plc has a 1-year low of $180.54 and a 1-year high of $254.00.

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

STERIS Announces Dividend

The business 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. This represents a $2.08 annualized dividend and a dividend yield of 1.04%. The ex-dividend date of this dividend was Thursday, February 22nd. STERIS’s dividend payout ratio (DPR) is 36.43%.

Analyst Ratings Changes

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

STERIS Company 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.