WCM Investment Management LLC Has $1.12 Billion Stock Holdings in STERIS plc (NYSE:STE)

WCM Investment Management LLC trimmed its holdings in shares of STERIS plc (NYSE:STE - Free Report) by 0.5% in the third quarter, according to its most recent filing with the SEC. The firm owned 4,680,537 shares of the medical equipment provider's stock after selling 25,421 shares during the period. STERIS makes up about 2.5% of WCM Investment Management LLC's investment portfolio, making the stock its 16th biggest position. WCM Investment Management LLC owned 4.75% of STERIS worth $1,118,882,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in the business. Ashton Thomas Securities LLC acquired a new stake in shares of STERIS in the 3rd quarter valued at $25,000. J.Safra Asset Management Corp boosted its position in STERIS by 77.9% in the first quarter. J.Safra Asset Management Corp now owns 121 shares of the medical equipment provider's stock valued at $27,000 after buying an additional 53 shares in the last quarter. Central Pacific Bank Trust Division acquired a new stake in shares of STERIS during the third quarter worth approximately $28,000. Quent Capital LLC increased its holdings in shares of STERIS by 112.7% during the first quarter. Quent Capital LLC now owns 134 shares of the medical equipment provider's stock worth $30,000 after buying an additional 71 shares in the last quarter. Finally, Headlands Technologies LLC acquired a new position in shares of STERIS in the 1st quarter worth approximately $36,000. 94.69% of the stock is currently owned by institutional investors and hedge funds.

STERIS Trading Up 1.2 %

Shares of STE traded up $2.67 on Monday, reaching $221.86. 663,601 shares of the company's stock were exchanged, compared to its average volume of 491,391. STERIS plc has a 12 month low of $195.47 and a 12 month high of $248.24. The stock has a market capitalization of $21.88 billion, a P/E ratio of 50.63 and a beta of 0.85. The company has a current ratio of 2.41, a quick ratio of 1.49 and a debt-to-equity ratio of 0.33. The business has a 50 day moving average price of $232.29 and a two-hundred day moving average price of $227.97.

STERIS (NYSE:STE - Get Free Report) last posted its quarterly earnings results on Wednesday, November 6th. The medical equipment provider reported $2.14 earnings per share for the quarter, beating analysts' consensus estimates of $2.12 by $0.02. The company had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.33 billion. STERIS had a return on equity of 13.78% and a net margin of 8.02%. The firm's quarterly revenue was up 7.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.03 EPS. Research analysts anticipate that STERIS plc will post 9.15 earnings per share for the current year.

STERIS Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Tuesday, November 19th will be given a dividend of $0.57 per share. The ex-dividend date of this dividend is Tuesday, November 19th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 1.03%. STERIS's dividend payout ratio is 52.05%.

Insider Activity at STERIS

In other STERIS news, CFO Michael J. Tokich sold 23,332 shares of the business's stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $247.00, for a total value of $5,763,004.00. Following the completion of the transaction, the chief financial officer now directly owns 42,930 shares of the company's stock, valued at approximately $10,603,710. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.14% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on STE shares. KeyCorp lifted their price objective on STERIS from $255.00 to $265.00 and gave the company an "overweight" rating in a research report on Tuesday, September 3rd. Stephens reaffirmed an "overweight" rating and issued a $260.00 price target on shares of STERIS in a report on Thursday. JMP Securities restated a "market outperform" rating and issued a $265.00 price objective on shares of STERIS in a research report on Wednesday, August 7th. Needham & Company LLC reiterated a "hold" rating on shares of STERIS in a research report on Friday. Finally, Piper Sandler raised shares of STERIS from a "neutral" rating to an "overweight" rating and raised their price target for the company from $230.00 to $260.00 in a report on Thursday, October 24th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $253.00.

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.