WCM Investment Management LLC Cuts Stock Holdings in STERIS plc (NYSE:STE)

WCM Investment Management LLC decreased its holdings in shares of STERIS plc (NYSE:STE - Free Report) by 3.9% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,497,191 shares of the medical equipment provider's stock after selling 183,346 shares during the period. STERIS accounts for 2.2% of WCM Investment Management LLC's portfolio, making the stock its 16th largest position. WCM Investment Management LLC owned approximately 4.56% of STERIS worth $922,284,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Ashton Thomas Securities LLC purchased a new position in shares of STERIS during the 3rd quarter valued at about $25,000. Central Pacific Bank Trust Division increased its position in STERIS by 65.5% in the fourth quarter. Central Pacific Bank Trust Division now owns 192 shares of the medical equipment provider's stock worth $39,000 after purchasing an additional 76 shares during the last quarter. Quarry LP purchased a new stake in shares of STERIS during the 3rd quarter valued at about $67,000. Asset Dedication LLC lifted its stake in shares of STERIS by 54.8% in the 3rd quarter. Asset Dedication LLC now owns 291 shares of the medical equipment provider's stock valued at $71,000 after purchasing an additional 103 shares during the last quarter. Finally, R Squared Ltd purchased a new position in STERIS during the fourth quarter worth $78,000. 94.69% of the stock is currently owned by institutional investors.

Insider Transactions at STERIS

In other STERIS news, SVP Cary L. Majors sold 1,682 shares of STERIS stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $217.32, for a total transaction of $365,532.24. Following the transaction, the senior vice president now directly owns 11,372 shares of the company's stock, valued at $2,471,363.04. The trade was a 12.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.14% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on STE shares. Stephens reiterated an "overweight" rating and set a $240.00 target price on shares of STERIS in a research report on Thursday, February 6th. Needham & Company LLC reiterated a "hold" rating on shares of STERIS in a research note on Friday, November 8th. JMP Securities reaffirmed a "market outperform" rating and set a $265.00 price target on shares of STERIS in a research report on Thursday, February 6th. Piper Sandler boosted their target price on STERIS from $260.00 to $265.00 and gave the stock an "overweight" rating in a research note on Monday, February 3rd. Finally, StockNews.com cut STERIS from a "strong-buy" rating to a "buy" rating in a research note on Tuesday, October 29th. One analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, STERIS currently has a consensus rating of "Moderate Buy" and a consensus price target of $258.75.

STERIS Price Performance

Shares of NYSE:STE traded down $4.36 during trading on Wednesday, reaching $219.00. 340,954 shares of the company's stock traded hands, compared to its average volume of 502,127. The company has a quick ratio of 1.55, a current ratio of 2.13 and a debt-to-equity ratio of 0.32. STERIS plc has a fifty-two week low of $197.82 and a fifty-two week high of $248.24. The company has a 50-day simple moving average of $212.81 and a 200-day simple moving average of $224.37. The firm has a market cap of $21.62 billion, a PE ratio of 46.50 and a beta of 0.84.

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

STERIS Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Thursday, February 20th will be paid a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a dividend yield of 1.04%. The ex-dividend date is Thursday, February 20th. STERIS's dividend payout ratio (DPR) is presently 48.41%.

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.