Jennison Associates LLC Has $58.93 Million Stake in STERIS plc (NYSE:STE)

Jennison Associates LLC boosted its holdings in shares of STERIS plc (NYSE:STE) by 60.2% in 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 period. Jennison Associates LLC owned 0.27% of STERIS worth $58,926,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Millburn Ridgefield Corp bought a new position in shares of STERIS in the 3rd quarter worth $25,000. Catalyst Capital Advisors LLC acquired a new stake in shares of STERIS in the third quarter valued at about $25,000. Global Wealth Management Investment Advisory Inc. acquired a new stake in shares of STERIS in the third quarter valued at about $49,000. NBC Securities Inc. acquired a new stake in shares of STERIS in the third quarter valued at about $50,000. Finally, Exchange Traded Concepts LLC acquired a new stake in shares of STERIS in the third quarter valued at about $54,000. 94.69% of the stock is owned by institutional investors and hedge funds.

STERIS Trading Up 2.5 %

Shares of NYSE:STE opened at $205.95 on Wednesday. STERIS plc has a 12-month low of $180.54 and a 12-month high of $254.00. The stock has a market cap of $20.35 billion, a PE ratio of 36.07 and a beta of 0.79. The business has a 50 day moving average of $222.85 and a 200-day moving average of $217.16. The company has a quick ratio of 1.49, a current ratio of 2.43 and a debt-to-equity ratio of 0.50.

STERIS (NYSE:STE) last issued 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. The company had revenue of $1.40 billion during the quarter, compared to analysts’ expectations of $1.35 billion. STERIS had a return on equity of 13.67% and a net margin of 10.48%. The business’s revenue was up 14.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.02 earnings per share. As a group, equities research analysts forecast that STERIS plc will post 8.67 earnings per share for the current year.

STERIS Announces Dividend

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

Wall Street Analyst Weigh In

A number of analysts recently issued reports on STE shares. TheStreet raised STERIS from a “c+” rating to a “b” rating in a research report on Wednesday, February 7th. Needham & Company LLC reaffirmed a “hold” rating on shares of STERIS in a research report on Friday, April 12th. JMP Securities reaffirmed a “market outperform” rating and issued a $265.00 target price on shares of STERIS in a research report on Thursday, February 8th. KeyCorp started coverage on STERIS in a research report on Tuesday, February 6th. They set an “overweight” rating and a $253.00 price target on the stock. Finally, Stephens reissued an “overweight” rating and set a $250.00 price target on shares of STERIS in a research report on Friday, February 9th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, 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.