M&T Bank Corp Buys 2,128 Shares of STERIS plc (NYSE:STE)

M&T Bank Corp increased its stake in shares of STERIS plc (NYSE:STE – Get Rating) by 4.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 47,889 shares of the medical equipment provider’s stock after purchasing an additional 2,128 shares during the quarter. M&T Bank Corp’s holdings in STERIS were worth $7,965,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. 1832 Asset Management L.P. acquired a new stake in STERIS during the 1st quarter worth $25,000. Pinnacle Financial Partners Inc. bought a new stake in shares of STERIS during the 3rd quarter valued at $33,000. AllSquare Wealth Management LLC bought a new stake in shares of STERIS during the 3rd quarter valued at $43,000. Householder Group Estate & Retirement Specialist LLC bought a new stake in shares of STERIS during the 3rd quarter valued at $44,000. Finally, CI Investments Inc. raised its position in shares of STERIS by 75.8% during the 3rd quarter. CI Investments Inc. now owns 276 shares of the medical equipment provider’s stock valued at $46,000 after acquiring an additional 119 shares during the last quarter. 92.35% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have commented on STE. Stephens reiterated an “overweight” rating and set a $220.00 target price on shares of STERIS in a research report on Thursday, February 9th. TheStreet cut shares of STERIS from a “b-” rating to a “c+” rating in a research report on Wednesday, March 1st. Piper Sandler dropped their target price on shares of STERIS from $235.00 to $215.00 and set an “overweight” rating for the company in a research report on Thursday, February 9th. JMP Securities dropped their price objective on STERIS from $250.00 to $240.00 and set a “market outperform” rating on the stock in a research note on Wednesday, February 15th. Finally, StockNews.com initiated coverage on STERIS in a research note on Thursday. They set a “buy” rating on the stock. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $232.83.

STERIS Stock Performance

Shares of STERIS stock opened at $176.39 on Thursday. The company has a market capitalization of $17.51 billion, a PE ratio of -608.22, a PEG ratio of 2.00 and a beta of 0.85. STERIS plc has a 12 month low of $159.21 and a 12 month high of $255.93. The company has a current ratio of 2.48, a quick ratio of 1.61 and a debt-to-equity ratio of 0.50. The stock’s fifty day simple moving average is $195.79 and its 200 day simple moving average is $185.56.

STERIS (NYSE:STE – Get Rating) last released its earnings results on Wednesday, February 8th. The medical equipment provider reported $2.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.19 by ($0.17). The firm had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.27 billion. STERIS had a positive return on equity of 12.86% and a negative net margin of 0.58%. STERIS’s revenue for the quarter was up .8% on a year-over-year basis. During the same quarter last year, the company posted $2.12 EPS. On average, research analysts predict that STERIS plc will post 8.05 EPS for the current year.

STERIS Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 23rd. Shareholders of record on Friday, February 24th will be issued a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 1.07%. The ex-dividend date is Thursday, February 23rd. STERIS’s dividend payout ratio (DPR) is presently -648.25%.

STERIS Company Profile

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STERIS Plc engages in the provision of healthcare and life science product and service solutions. It operates through the following segments: Healthcare, Life Sciences, Applied Sterilization Technologies, and Dental. The Healthcare segment provides a comprehensive offering for healthcare providers worldwide, focused on sterile processing departments and procedural centers, such as operating rooms and endoscopy suites.