Pinnacle Wealth Planning Services Inc. Cuts Stake in STERIS plc (NYSE:STE)

Pinnacle Wealth Planning Services Inc. reduced its stake in STERIS plc (NYSE:STE) by 5.5% during the fourth quarter, HoldingsChannel reports. The fund owned 1,318 shares of the medical equipment provider’s stock after selling 76 shares during the period. Pinnacle Wealth Planning Services Inc.’s holdings in STERIS were worth $271,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Ashton Thomas Securities LLC purchased a new stake in shares of STERIS in the third quarter worth $25,000. Human Investing LLC purchased a new stake in shares of STERIS in the fourth quarter worth $31,000. Anfield Capital Management LLC boosted its position 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 valued at $37,000 after buying an additional 91 shares during the last quarter. Central Pacific Bank Trust Division boosted its position 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 valued at $39,000 after buying an additional 76 shares during the last quarter. Finally, Manchester Capital Management LLC boosted its position in shares of STERIS by 182.7% during the fourth quarter. Manchester Capital Management LLC now owns 212 shares of the medical equipment provider’s stock valued at $44,000 after buying an additional 137 shares during the last quarter. 94.69% of the stock is owned by hedge funds and other institutional investors.

STERIS Stock Up 0.3 %

STE stock opened at $233.02 on Friday. STERIS plc has a fifty-two week low of $197.82 and a fifty-two week high of $248.24. The business’s 50-day moving average is $216.96 and its two-hundred day moving average is $222.85. 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 company has a market cap of $22.89 billion, a price-to-earnings ratio of 49.47 and a beta of 0.92.

STERIS (NYSE:STE) last posted its earnings results on Wednesday, February 5th. The medical equipment provider reported $2.32 earnings per share 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 forecast that STERIS plc will post 9.08 earnings per share for the current year.

STERIS Announces Dividend

The company also recently announced 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. This represents a $2.28 dividend on an annualized basis and a yield of 0.98%. The ex-dividend date of this dividend is Thursday, February 20th. STERIS’s dividend payout ratio is 48.41%.

Wall Street Analysts Forecast Growth

STE has been the topic of several recent analyst reports. JMP Securities reaffirmed a “market outperform” rating and set a $265.00 price objective on shares of STERIS in a research report on Thursday, February 6th. Piper Sandler increased their price objective on STERIS from $260.00 to $265.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Stephens reaffirmed an “overweight” rating and set a $240.00 price objective on shares of STERIS in a research report on Thursday, February 6th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of STERIS in a research report on Friday, November 8th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $258.75.

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.