Jennison Associates LLC Buys 100,734 Shares of STERIS plc (NYSE:STE)

Jennison Associates LLC lifted its stake in shares of STERIS plc (NYSE:STE) by 60.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 268,029 shares of the medical equipment provider’s stock after purchasing an additional 100,734 shares during the quarter. Jennison Associates LLC’s holdings in STERIS were worth $58,926,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Millburn Ridgefield Corp bought a new position in STERIS in the 3rd quarter valued at about $25,000. Catalyst Capital Advisors LLC bought a new stake in STERIS during the third quarter worth about $25,000. Global Wealth Management Investment Advisory Inc. bought a new stake in STERIS during the third quarter worth about $49,000. NBC Securities Inc. bought a new stake in STERIS during the third quarter worth about $50,000. Finally, Exchange Traded Concepts LLC bought a new stake in STERIS during the third quarter worth about $54,000. Institutional investors own 94.69% of the company’s stock.

STERIS Stock Performance

Shares of NYSE STE opened at $205.95 on Wednesday. The firm has a fifty day moving average price of $222.85 and a 200-day moving average price of $217.16. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.43 and a quick ratio of 1.49. The stock has a market cap of $20.35 billion, a PE ratio of 36.07 and a beta of 0.79. STERIS plc has a 1 year low of $180.54 and a 1 year high of $254.00.

STERIS (NYSE:STE) last announced its quarterly earnings data on Wednesday, February 7th. The medical equipment provider reported $2.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.17 by $0.05. STERIS had a net margin of 10.48% and a return on equity of 13.67%. The firm had revenue of $1.40 billion during the quarter, compared to analysts’ expectations of $1.35 billion. During the same period in the prior year, the company posted $2.02 earnings per share. The company’s revenue for the quarter was up 14.8% compared to the same quarter last year. Equities analysts anticipate that STERIS plc will post 8.67 earnings per share for the current fiscal year.

STERIS Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 22nd. Investors of record on Friday, February 23rd were given a dividend of $0.52 per share. The ex-dividend date of this dividend was Thursday, February 22nd. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.01%. STERIS’s dividend payout ratio is 36.43%.

Analysts Set New Price Targets

Several equities research analysts recently commented on STE shares. JMP Securities reissued a “market outperform” rating and set a $265.00 price objective on shares of STERIS in a research note on Thursday, February 8th. TheStreet upgraded shares of STERIS from a “c+” rating to a “b” rating in a research note on Wednesday, February 7th. Needham & Company LLC reaffirmed a “hold” rating on shares of STERIS in a report on Friday, April 12th. Stephens reaffirmed an “overweight” rating and set a $250.00 target price on shares of STERIS in a report on Friday, February 9th. Finally, KeyCorp began coverage on shares of STERIS in a report on Tuesday, February 6th. They set an “overweight” rating and a $253.00 target price for the company. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $239.60.

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.