Meridian Wealth Advisors LLC Increases Stake in STERIS plc (NYSE:STE)

Meridian Wealth Advisors LLC lifted its position in STERIS plc (NYSE:STE) by 7.0% in the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 11,288 shares of the medical equipment provider’s stock after acquiring an additional 740 shares during the period. Meridian Wealth Advisors LLC’s holdings in STERIS were worth $2,482,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in STE. Greenleaf Trust grew its position in shares of STERIS by 2.8% during the third quarter. Greenleaf Trust now owns 1,888 shares of the medical equipment provider’s stock valued at $414,000 after purchasing an additional 51 shares in the last quarter. Park Edge Advisors LLC grew its holdings in shares of STERIS by 1.2% in the fourth quarter. Park Edge Advisors LLC now owns 4,409 shares of the medical equipment provider’s stock valued at $969,000 after purchasing an additional 51 shares in the last quarter. UMB Bank n.a. raised its stake in STERIS by 7.8% during the fourth quarter. UMB Bank n.a. now owns 716 shares of the medical equipment provider’s stock valued at $157,000 after purchasing an additional 52 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in STERIS by 0.6% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 8,944 shares of the medical equipment provider’s stock valued at $1,962,000 after purchasing an additional 54 shares during the last quarter. Finally, Legacy Wealth Asset Management LLC grew its stake in shares of STERIS by 1.5% in the 4th quarter. Legacy Wealth Asset Management LLC now owns 3,544 shares of the medical equipment provider’s stock worth $779,000 after buying an additional 54 shares in the last quarter. 94.69% of the stock is owned by hedge funds and other institutional investors.

STERIS Price Performance

Shares of STE stock opened at $223.11 on Thursday. The company has a market capitalization of $22.05 billion, a P/E ratio of 36.81 and a beta of 0.81. The company’s 50-day simple moving average is $217.16 and its two-hundred day simple moving average is $215.97. STERIS plc has a one year low of $187.07 and a one year high of $254.00. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.43 and a quick ratio of 1.49.

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

STERIS Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 26th. Investors of record on Wednesday, June 12th will be issued a $0.52 dividend. The ex-dividend date of this dividend is Wednesday, June 12th. This represents a $2.08 annualized dividend and a dividend yield of 0.93%. STERIS’s payout ratio is currently 36.43%.

Wall Street Analyst Weigh In

Several research analysts recently commented on STE shares. KeyCorp started coverage on STERIS in a research report on Tuesday, February 6th. They issued an “overweight” rating and a $253.00 price target for the company. Needham & Company LLC restated a “hold” rating on shares of STERIS in a research report on Friday, April 12th. JMP Securities reiterated a “market outperform” rating and set a $265.00 price objective on shares of STERIS in a research report on Thursday, February 8th. StockNews.com lowered shares of STERIS from a “buy” rating to a “hold” rating in a report on Friday, May 3rd. Finally, Stephens reiterated an “overweight” rating and set a $250.00 price target on shares of STERIS in a report on Friday, February 9th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $239.60.

STERIS Company 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.