Envestnet Portfolio Solutions Inc. Decreases Position in STERIS plc (NYSE:STE)

Envestnet Portfolio Solutions Inc. reduced its position in shares of STERIS plc (NYSE:STE) by 33.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,213 shares of the medical equipment provider’s stock after selling 6,651 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in STERIS were worth $2,716,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the company. Avalon Trust Co purchased a new stake in shares of STERIS during the fourth quarter worth approximately $30,000. Human Investing LLC acquired a new stake in STERIS during the 4th quarter worth $31,000. Anfield Capital Management LLC grew its holdings in shares of 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 raised its position in shares of STERIS by 65.5% in the fourth quarter. Central Pacific Bank Trust Division now owns 192 shares of the medical equipment provider’s stock valued at $39,000 after buying an additional 76 shares during the last quarter. Finally, Manchester Capital Management LLC lifted its stake in shares of STERIS by 182.7% in 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. Institutional investors and hedge funds own 94.69% of the company’s stock.

STERIS Stock Performance

Shares of STE stock opened at $225.44 on Thursday. STERIS plc has a one year low of $197.82 and a one year high of $248.24. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.40 and a current ratio of 2.13. The firm’s 50 day moving average price is $220.41 and its 200-day moving average price is $222.24. The firm has a market cap of $22.15 billion, a P/E ratio of 47.86 and a beta of 0.92.

STERIS (NYSE:STE) last released its quarterly earnings results on Wednesday, February 5th. The medical equipment provider reported $2.32 EPS 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%. As a group, equities research analysts predict that STERIS plc will post 9.08 EPS for the current year.

STERIS Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Thursday, February 20th will be paid a dividend of $0.57 per share. The ex-dividend date is Thursday, February 20th. This represents a $2.28 dividend on an annualized basis and a yield of 1.01%. STERIS’s dividend payout ratio (DPR) is presently 48.41%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on STE shares. Piper Sandler upped their price objective on shares of STERIS from $260.00 to $265.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Stephens restated an “overweight” rating and issued a $240.00 price target on shares of STERIS in a research report 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 report on Thursday, February 6th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $258.75.

STERIS Company 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.