UBS Group AG Cuts Stake in STERIS plc (NYSE:STE)

UBS Group AG lowered its position in STERIS plc (NYSE:STEGet Rating) by 17.0% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 129,414 shares of the medical equipment provider’s stock after selling 26,560 shares during the period. UBS Group AG’s holdings in STERIS were worth $26,679,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of STE. SG Americas Securities LLC purchased a new stake in STERIS in the first quarter worth approximately $525,000. National Asset Management Inc. purchased a new stake in STERIS in the first quarter worth approximately $304,000. Waldron Private Wealth LLC purchased a new stake in STERIS in the first quarter worth approximately $235,000. Stephens Inc. AR boosted its stake in STERIS by 2.8% in the first quarter. Stephens Inc. AR now owns 2,949 shares of the medical equipment provider’s stock worth $713,000 after buying an additional 81 shares in the last quarter. Finally, State of Michigan Retirement System boosted its stake in STERIS by 0.4% in the first quarter. State of Michigan Retirement System now owns 25,248 shares of the medical equipment provider’s stock worth $6,104,000 after buying an additional 94 shares in the last quarter. Hedge funds and other institutional investors own 92.04% of the company’s stock.

STERIS Trading Up 1.5 %

Shares of STERIS stock opened at $180.51 on Friday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.42 and a current ratio of 2.16. The business has a 50 day moving average of $170.45 and a 200 day moving average of $197.66. STERIS plc has a 52 week low of $159.21 and a 52 week high of $255.93.

STERIS (NYSE:STEGet Rating) last announced its earnings results on Wednesday, November 9th. The medical equipment provider reported $1.99 EPS for the quarter, beating analysts’ consensus estimates of $1.98 by $0.01. The company had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.22 billion. STERIS had a positive return on equity of 12.75% and a negative net margin of 0.17%. The firm’s revenue for the quarter was up .3% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.99 earnings per share. On average, equities research analysts predict that STERIS plc will post 8.45 EPS for the current fiscal year.

STERIS Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 16th. Investors of record on Tuesday, November 22nd will be issued a dividend of $0.47 per share. The ex-dividend date is Monday, November 21st. This represents a $1.88 dividend on an annualized basis and a dividend yield of 1.04%. STERIS’s dividend payout ratio is presently -1,708.94%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on STE shares. KeyCorp dropped their price objective on STERIS from $240.00 to $210.00 and set an “overweight” rating for the company in a research note on Friday, November 11th. TheStreet raised STERIS from a “c+” rating to a “b” rating in a research note on Tuesday, August 2nd. Needham & Company LLC lowered STERIS from a “buy” rating to a “hold” rating in a research note on Friday, September 23rd. StockNews.com started coverage on STERIS in a research note on Wednesday, October 12th. They set a “buy” rating for the company. Finally, JMP Securities dropped their price objective on STERIS from $270.00 to $250.00 in a research note on Thursday, August 4th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, STERIS currently has an average rating of “Moderate Buy” and an average target price of $242.40.

STERIS Profile

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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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Institutional Ownership by Quarter for STERIS (NYSE:STE)

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