Geneva Capital Management LLC Sells 4,732 Shares of STERIS plc (NYSE:STE)

Geneva Capital Management LLC lessened its stake in STERIS plc (NYSE:STE) by 3.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 135,792 shares of the medical equipment provider’s stock after selling 4,732 shares during the quarter. Geneva Capital Management LLC owned 0.14% of STERIS worth $29,854,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently modified their holdings of the company. Cambridge Investment Research Advisors Inc. raised its holdings in shares of STERIS by 3.0% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 7,537 shares of the medical equipment provider’s stock worth $1,654,000 after acquiring an additional 220 shares in the last quarter. Robeco Institutional Asset Management B.V. lifted its stake in shares of STERIS by 286.3% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 761 shares of the medical equipment provider’s stock worth $167,000 after purchasing an additional 564 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in STERIS by 14.6% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 38,074 shares of the medical equipment provider’s stock valued at $8,354,000 after buying an additional 4,862 shares during the last quarter. Strs Ohio raised its stake in STERIS by 3.6% in the third quarter. Strs Ohio now owns 51,978 shares of the medical equipment provider’s stock valued at $11,405,000 after buying an additional 1,826 shares during the last quarter. Finally, Waldron Private Wealth LLC purchased a new position in shares of STERIS in the third quarter worth about $292,000. Hedge funds and other institutional investors own 94.69% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on STE shares. KeyCorp initiated coverage on STERIS in a research note on Tuesday, February 6th. They issued an “overweight” rating and a $253.00 price target on the stock. JMP Securities reissued a “market outperform” rating and issued a $265.00 target price on shares of STERIS in a research report on Thursday. Stephens reaffirmed 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 reaffirmed a “hold” rating on shares of STERIS in a research report on Friday, April 12th. Finally, TheStreet raised STERIS from a “c+” rating to a “b” rating in a report on Wednesday, February 7th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $239.60.

STERIS Price Performance

NYSE:STE traded up $15.95 during mid-day trading on Thursday, hitting $226.04. The company’s stock had a trading volume of 926,048 shares, compared to its average volume of 475,059. STERIS plc has a fifty-two week low of $187.07 and a fifty-two week high of $254.00. 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 has a market capitalization of $22.34 billion, a price-to-earnings ratio of 39.59 and a beta of 0.81. The stock has a fifty day moving average of $217.02 and a 200-day moving average of $216.04.

STERIS (NYSE:STE) last posted its quarterly earnings data on Wednesday, May 8th. The medical equipment provider reported $2.58 earnings per share for the quarter, topping the consensus estimate of $2.41 by $0.17. The company had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.41 billion. STERIS had a net margin of 10.48% and a return on equity of 13.67%. The company’s revenue was up 10.8% on a year-over-year basis. During the same quarter last year, the business posted $2.30 earnings per share. As a group, equities analysts forecast that STERIS plc will post 8.67 EPS for the current fiscal year.

STERIS Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 26th. Stockholders of record on Wednesday, June 12th will be issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 0.92%. The ex-dividend date of this dividend is Wednesday, June 12th. STERIS’s payout ratio is 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.