Russell Investments Group Ltd. Has $13.09 Million Stock Position in STERIS plc (NYSE:STE)

Russell Investments Group Ltd. cut its position in STERIS plc (NYSE:STE) by 4.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 63,691 shares of the medical equipment provider’s stock after selling 3,285 shares during the period. Russell Investments Group Ltd.’s holdings in STERIS were worth $13,089,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Franklin Resources Inc. boosted its holdings in shares of STERIS by 171.2% in the 3rd quarter. Franklin Resources Inc. now owns 838,569 shares of the medical equipment provider’s stock worth $191,370,000 after acquiring an additional 529,308 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of STERIS by 30.8% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 10,970 shares of the medical equipment provider’s stock worth $2,275,000 after purchasing an additional 2,583 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new stake in shares of STERIS during the third quarter worth $9,949,000. Merit Financial Group LLC acquired a new stake in shares of STERIS in the fourth quarter valued at $260,000. Finally, Blue Trust Inc. raised its holdings in shares of STERIS by 19.9% in the fourth quarter. Blue Trust Inc. now owns 1,128 shares of the medical equipment provider’s stock valued at $232,000 after buying an additional 187 shares during the last quarter. 94.69% of the stock is owned by institutional investors.

Analysts Set New Price Targets

STE has been the subject of several research reports. Stephens restated an “overweight” rating and issued a $240.00 price objective on shares of STERIS in a research report on Thursday, February 6th. Needham & Company LLC restated a “hold” rating on shares of STERIS in a research report on Monday. JMP Securities reaffirmed a “market outperform” rating and set a $265.00 price objective on shares of STERIS in a report on Thursday. Finally, Piper Sandler boosted their target price on STERIS from $260.00 to $265.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. One 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 currently has a consensus rating of “Moderate Buy” and a consensus price target of $258.75.

STERIS Trading Down 2.7 %

Shares of NYSE STE opened at $217.01 on Friday. STERIS plc has a fifty-two week low of $197.82 and a fifty-two week high of $248.24. The firm has a market capitalization of $21.32 billion, a P/E ratio of 46.07 and a beta of 0.87. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.13 and a quick ratio of 1.40. The company’s 50 day simple moving average is $222.58 and its 200 day simple moving average is $219.73.

STERIS (NYSE:STE) last posted its quarterly 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%. On average, analysts predict that STERIS plc will post 9.08 EPS for the current year.

STERIS Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Thursday, February 20th were paid a $0.57 dividend. The ex-dividend date was Thursday, February 20th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 1.05%. STERIS’s dividend payout ratio (DPR) is presently 48.41%.

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.