Kimelman & Baird LLC Cuts Stake in STERIS plc (NYSE:STE)

Kimelman & Baird LLC decreased its holdings in STERIS plc (NYSE:STE - Free Report) by 10.5% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 25,673 shares of the medical equipment provider's stock after selling 3,026 shares during the quarter. Kimelman & Baird LLC's holdings in STERIS were worth $5,277,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Counterpoint Mutual Funds LLC purchased a new stake in shares of STERIS during the 4th quarter valued at about $275,000. Cibc World Markets Corp grew its stake in shares of STERIS by 16.3% during the 4th quarter. Cibc World Markets Corp now owns 15,569 shares of the medical equipment provider's stock valued at $3,200,000 after acquiring an additional 2,181 shares during the period. Avalon Trust Co bought a new position in shares of STERIS during the 4th quarter valued at approximately $30,000. Hilton Capital Management LLC grew its stake in shares of STERIS by 4.5% during the 4th quarter. Hilton Capital Management LLC now owns 6,887 shares of the medical equipment provider's stock valued at $1,416,000 after acquiring an additional 297 shares during the period. Finally, LBP AM SA grew its stake in shares of STERIS by 151.3% during the 4th quarter. LBP AM SA now owns 26,519 shares of the medical equipment provider's stock valued at $5,451,000 after acquiring an additional 15,965 shares during the period. Hedge funds and other institutional investors own 94.69% of the company's stock.

Analyst Upgrades and Downgrades

STE has been the subject of a number of recent research reports. Piper Sandler boosted their price objective on STERIS from $260.00 to $265.00 and gave the company an "overweight" rating in a research note on Monday, February 3rd. Stephens reiterated an "overweight" rating and set a $240.00 price objective on shares of STERIS in a research note on Thursday, February 6th. Finally, JMP Securities reiterated a "market outperform" rating and set a $265.00 price objective on shares of STERIS in a research note on Thursday, February 6th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat.com, STERIS has a consensus rating of "Moderate Buy" and a consensus target price of $258.75.

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STERIS Trading Down 1.5 %

NYSE:STE traded down $3.34 during midday trading on Wednesday, hitting $224.98. 152,405 shares of the company traded hands, compared to its average volume of 499,546. The company has a current ratio of 2.13, a quick ratio of 1.40 and a debt-to-equity ratio of 0.32. The firm's fifty day moving average is $220.09 and its 200-day moving average is $222.22. STERIS plc has a 12-month low of $197.82 and a 12-month high of $248.24. The firm has a market capitalization of $22.10 billion, a P/E ratio of 47.78 and a beta of 0.92.

STERIS (NYSE:STE - Get Free Report) last released its earnings results on Wednesday, February 5th. The medical equipment provider reported $2.32 earnings per share for the quarter, missing analysts' consensus estimates of $2.33 by ($0.01). STERIS had a return on equity of 13.91% and a net margin of 8.66%. On average, sell-side analysts predict that STERIS plc will post 9.08 EPS for the current year.

STERIS Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 21st. Stockholders of record on Thursday, February 20th will be paid a dividend of $0.57 per share. The ex-dividend date of this dividend is Thursday, February 20th. This represents a $2.28 annualized dividend and a dividend yield of 1.01%. STERIS's dividend payout ratio is currently 48.41%.

About STERIS

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.