WCM Investment Management LLC Has $922.28 Million Stock Holdings in STERIS plc (NYSE:STE)

WCM Investment Management LLC lessened its holdings in STERIS plc (NYSE:STE) by 3.9% in the 4th quarter, HoldingsChannel.com reports. The firm owned 4,497,191 shares of the medical equipment provider’s stock after selling 183,346 shares during the quarter. STERIS comprises approximately 2.2% of WCM Investment Management LLC’s portfolio, making the stock its 16th largest holding. WCM Investment Management LLC’s holdings in STERIS were worth $922,284,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Ashton Thomas Securities LLC acquired a new position in STERIS in the third quarter worth about $25,000. Central Pacific Bank Trust Division increased its holdings in shares of STERIS by 65.5% during the fourth quarter. Central Pacific Bank Trust Division now owns 192 shares of the medical equipment provider’s stock worth $39,000 after buying an additional 76 shares in the last quarter. Quarry LP acquired a new stake in shares of STERIS during the third quarter worth approximately $67,000. Asset Dedication LLC increased its holdings in shares of STERIS by 54.8% during the third quarter. Asset Dedication LLC now owns 291 shares of the medical equipment provider’s stock worth $71,000 after buying an additional 103 shares in the last quarter. Finally, R Squared Ltd acquired a new stake in shares of STERIS during the fourth quarter worth approximately $78,000. Institutional investors and hedge funds own 94.69% of the company’s stock.

Insider Buying and Selling at STERIS

In other STERIS news, SVP Cary L. Majors sold 1,682 shares of the stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $217.32, for a total value 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. This represents a 12.88 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.14% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on STE. Needham & Company LLC reaffirmed a “hold” rating on shares of STERIS in a report on Friday, November 8th. Stephens reissued an “overweight” rating and issued a $240.00 price target on shares of STERIS in a report on Thursday. StockNews.com lowered shares of STERIS from a “strong-buy” rating to a “buy” rating in a report on Tuesday, October 29th. JMP Securities reissued a “market outperform” rating and issued a $265.00 price target on shares of STERIS in a report on Thursday. Finally, Piper Sandler raised their price target on shares of STERIS from $260.00 to $265.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $258.75.

STERIS Trading Down 1.0 %

Shares of NYSE:STE opened at $223.13 on Friday. The company’s 50-day moving average price is $212.57 and its two-hundred day moving average price is $224.56. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.13 and a quick ratio of 1.55. STERIS plc has a one year low of $197.82 and a one year high of $248.24. The stock has a market capitalization of $22.03 billion, a PE ratio of 47.37 and a beta of 0.84.

STERIS (NYSE:STE) last issued 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%. On average, equities analysts forecast that STERIS plc will post 9.08 EPS for the current fiscal year.

STERIS Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Thursday, February 20th will be issued a $0.57 dividend. The ex-dividend date is Thursday, February 20th. This represents a $2.28 annualized dividend and a yield of 1.02%. 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.