New Mexico Educational Retirement Board trimmed its position in STERIS plc (NYSE:STE – Get Rating) by 5.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,550 shares of the medical equipment provider's stock after selling 300 shares during the quarter. New Mexico Educational Retirement Board's holdings in STERIS were worth $1,144,000 at the end of the most recent reporting period.
A number of other hedge funds have also added to or reduced their stakes in the company. Marshall Wace LLP grew its stake in shares of STERIS by 6,323.8% during the fourth quarter. Marshall Wace LLP now owns 1,139,449 shares of the medical equipment provider's stock worth $277,353,000 after buying an additional 1,121,711 shares during the last quarter. Norges Bank bought a new stake in shares of STERIS during the fourth quarter worth $198,152,000. BlackRock Inc. grew its stake in shares of STERIS by 5.9% during the fourth quarter. BlackRock Inc. now owns 8,128,575 shares of the medical equipment provider's stock worth $1,978,576,000 after buying an additional 452,768 shares during the last quarter. Invesco Ltd. grew its stake in shares of STERIS by 89.8% during the first quarter. Invesco Ltd. now owns 953,983 shares of the medical equipment provider's stock worth $230,645,000 after buying an additional 451,235 shares during the last quarter. Finally, Great West Life Assurance Co. Can bought a new stake in shares of STERIS during the first quarter worth $108,682,000. 92.04% of the stock is owned by institutional investors.
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Wall Street Analyst Weigh In
Several equities analysts recently issued reports on the stock. JMP Securities dropped their target price on shares of STERIS from $270.00 to $250.00 in a report on Thursday, August 4th. StockNews.com upgraded shares of STERIS from a "hold" rating to a "buy" rating in a report on Thursday, August 11th. TheStreet upgraded shares of STERIS from a "c+" rating to a "b" rating in a report on Tuesday, August 2nd. Needham & Company LLC lowered shares of STERIS from a "buy" rating to a "hold" rating in a report on Friday, September 23rd. Finally, KeyCorp dropped their price objective on shares of STERIS from $256.00 to $240.00 and set an "overweight" rating on the stock in a report on Thursday, August 4th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $252.00.
STERIS Trading Up 2.3 %
Shares of STE stock opened at $170.07 on Tuesday. STERIS plc has a 52-week low of $160.08 and a 52-week high of $255.93. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.35 and a current ratio of 2.03. The company has a 50-day simple moving average of $200.35 and a two-hundred day simple moving average of $215.76. The company has a market capitalization of $17.01 billion, a price-to-earnings ratio of 45.60, a PEG ratio of 1.78 and a beta of 0.82.
STERIS (NYSE:STE – Get Rating) last released its earnings results on Tuesday, August 2nd. The medical equipment provider reported $1.90 earnings per share for the quarter, meeting analysts' consensus estimates of $1.90. The firm had revenue of $1.16 billion for the quarter, compared to analysts' expectations of $1.23 billion. STERIS had a net margin of 7.90% and a return on equity of 12.40%. Research analysts anticipate that STERIS plc will post 8.51 EPS for the current fiscal year.
STERIS Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, September 23rd. Investors of record on Wednesday, September 7th were paid a dividend of $0.47 per share. This is a boost from STERIS's previous quarterly dividend of $0.43. This represents a $1.88 dividend on an annualized basis and a dividend yield of 1.11%. The ex-dividend date of this dividend was Tuesday, September 6th. STERIS's dividend payout ratio is presently 50.40%.
About STERIS
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STERIS plc provides infection prevention and other procedural 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; accessories for gastrointestinal (GI) procedures, 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.
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