M&T Bank Corp Trims Stake in STERIS plc (NYSE:STE)

M&T Bank Corp trimmed its holdings in shares of STERIS plc (NYSE:STE) by 4.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 31,238 shares of the medical equipment provider’s stock after selling 1,400 shares during the quarter. M&T Bank Corp’s holdings in STERIS were worth $6,422,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Ashton Thomas Securities LLC purchased a new position in STERIS during the third quarter worth about $25,000. Human Investing LLC purchased a new position in STERIS during the fourth quarter worth about $31,000. Anfield Capital Management LLC grew its position in STERIS by 100.0% during the fourth quarter. Anfield Capital Management LLC now owns 182 shares of the medical equipment provider’s stock worth $37,000 after buying an additional 91 shares in the last quarter. Central Pacific Bank Trust Division grew its position in 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. Finally, Manchester Capital Management LLC grew its position in STERIS by 182.7% during the fourth quarter. Manchester Capital Management LLC now owns 212 shares of the medical equipment provider’s stock worth $44,000 after buying an additional 137 shares in the last quarter. 94.69% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently commented on STE. Piper Sandler boosted their target price on STERIS from $260.00 to $265.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Stephens reiterated an “overweight” rating and issued a $240.00 price objective on shares of STERIS in a report on Thursday, February 6th. JMP Securities reiterated a “market outperform” rating and issued a $265.00 price objective on shares of STERIS in a report on Thursday, February 6th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of STERIS in a report on Friday, November 8th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $258.75.

STERIS Trading Up 0.3 %

Shares of STE stock opened at $233.02 on Friday. The stock has a market capitalization of $22.89 billion, a PE ratio of 49.47 and a beta of 0.92. STERIS plc has a 1-year low of $197.82 and a 1-year high of $248.24. The business has a 50-day moving average of $216.96 and a 200 day moving average of $222.85. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.13 and a quick ratio of 1.40.

STERIS (NYSE:STE) last issued its earnings results on Wednesday, February 5th. The medical equipment provider reported $2.32 earnings per share for the quarter, missing the consensus estimate 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, sell-side analysts anticipate that STERIS plc will post 9.08 earnings per share for the current year.

STERIS Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, March 21st. Investors of record on Thursday, February 20th will be issued a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a yield of 0.98%. The ex-dividend date is Thursday, February 20th. STERIS’s dividend payout ratio 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.