M&T Bank Corp Sells 1,298 Shares of STERIS plc (NYSE:STE)

M&T Bank Corp lowered its position in shares of STERIS plc (NYSE:STE) by 3.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 34,246 shares of the medical equipment provider’s stock after selling 1,298 shares during the period. M&T Bank Corp’s holdings in STERIS were worth $7,529,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in STE. Impax Asset Management Group plc boosted its holdings in STERIS by 419.1% in 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 purchasing an additional 779,038 shares during the last quarter. Envestnet Asset Management Inc. raised its holdings in STERIS by 58.4% during the third quarter. Envestnet Asset Management Inc. now owns 586,380 shares of the medical equipment provider’s stock valued at $128,663,000 after acquiring an additional 216,113 shares during the period. Artemis Investment Management LLP bought a new stake in STERIS during the fourth quarter valued at about $32,687,000. Jennison Associates LLC increased its holdings in shares of STERIS by 60.2% in the fourth quarter. Jennison Associates LLC now owns 268,029 shares of the medical equipment provider’s stock worth $58,926,000 after purchasing an additional 100,734 shares during the last quarter. Finally, Lord Abbett & CO. LLC increased its holdings in shares of STERIS by 65.5% in the 3rd quarter. Lord Abbett & CO. LLC now owns 244,659 shares of the medical equipment provider’s stock worth $53,683,000 after buying an additional 96,800 shares during the last quarter. Institutional investors own 94.69% of the company’s stock.

Analysts Set New Price Targets

STE has been the topic of several analyst reports. KeyCorp initiated coverage on shares of STERIS in a report on Tuesday, February 6th. They set an “overweight” rating and a $253.00 price target on the stock. Stephens restated an “overweight” rating and set a $250.00 price objective on shares of STERIS in a report on Friday, February 9th. JMP Securities reiterated a “market outperform” rating and issued a $265.00 price target on shares of STERIS in a report on Thursday, February 8th. StockNews.com cut shares of STERIS from a “buy” rating to a “hold” rating in a research note on Friday. Finally, Needham & Company LLC reiterated a “hold” rating on shares of STERIS in a research report on Friday, April 12th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $239.60.

STERIS Price Performance

STE stock opened at $207.82 on Monday. STERIS plc has a 52-week low of $185.22 and a 52-week high of $254.00. The business has a fifty day moving average of $218.46 and a two-hundred day moving average of $216.09. The stock has a market cap of $20.53 billion, a price-to-earnings ratio of 36.40 and a beta of 0.81. The company has a quick ratio of 1.49, a current ratio of 2.43 and a debt-to-equity ratio of 0.50.

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

STERIS Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 26th. Stockholders of record on Wednesday, June 12th will be given a dividend of $0.52 per share. The ex-dividend date of this dividend is Wednesday, June 12th. This represents a $2.08 annualized dividend and a dividend yield of 1.00%. STERIS’s dividend payout ratio is presently 36.43%.

STERIS 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.