Metis Global Partners LLC Raises Holdings in STERIS plc (NYSE:STE)

Metis Global Partners LLC increased its holdings in STERIS plc (NYSE:STE) by 24.3% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 6,772 shares of the medical equipment provider’s stock after acquiring an additional 1,322 shares during the period. Metis Global Partners LLC’s holdings in STERIS were worth $1,392,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the business. Geode Capital Management LLC grew its position in STERIS by 0.7% in the third quarter. Geode Capital Management LLC now owns 2,303,625 shares of the medical equipment provider’s stock worth $556,786,000 after acquiring an additional 17,007 shares during the period. Principal Financial Group Inc. lifted its stake in STERIS by 0.5% during the fourth quarter. Principal Financial Group Inc. now owns 1,119,643 shares of the medical equipment provider’s stock worth $230,160,000 after purchasing an additional 5,419 shares in the last quarter. Franklin Resources Inc. lifted its stake in STERIS by 171.2% during the third quarter. Franklin Resources Inc. now owns 838,569 shares of the medical equipment provider’s stock worth $191,370,000 after purchasing an additional 529,308 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in STERIS by 1.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 551,453 shares of the medical equipment provider’s stock worth $133,749,000 after purchasing an additional 6,334 shares in the last quarter. Finally, Swiss National Bank lifted its stake in STERIS by 0.3% during the third quarter. Swiss National Bank now owns 293,360 shares of the medical equipment provider’s stock worth $71,152,000 after purchasing an additional 800 shares in the last quarter. 94.69% of the stock is currently owned by hedge funds and other institutional investors.

STERIS Stock Up 1.4 %

Shares of NYSE STE opened at $222.37 on Tuesday. The stock has a market cap of $21.85 billion, a P/E ratio of 47.21 and a beta of 0.84. The company has a current ratio of 2.13, a quick ratio of 1.40 and a debt-to-equity ratio of 0.32. STERIS plc has a 12-month low of $197.82 and a 12-month high of $248.24. The business’s fifty day simple moving average is $215.28 and its 200-day simple moving average is $222.81.

STERIS (NYSE:STE) last announced its quarterly earnings data on Wednesday, February 5th. The medical equipment provider reported $2.32 earnings per share (EPS) 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, equities analysts predict that STERIS plc will post 9.08 EPS for the current fiscal 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 $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a yield of 1.03%. The ex-dividend date is Thursday, February 20th. STERIS’s dividend payout ratio is presently 48.41%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Stephens restated an “overweight” rating and set a $240.00 price target on shares of STERIS in a research note on Thursday, February 6th. Needham & Company LLC restated a “hold” rating on shares of STERIS in a research note on Friday, November 8th. JMP Securities restated a “market outperform” rating and set a $265.00 price target on shares of STERIS in a research note on Thursday, February 6th. Finally, Piper Sandler upped their price target on STERIS from $260.00 to $265.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $258.75.

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.