STERIS plc (NYSE:STE) Stock Position Raised by Handelsbanken Fonder AB

Handelsbanken Fonder AB raised its position in shares of STERIS plc (NYSE:STE) by 70.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,972 shares of the medical equipment provider’s stock after purchasing an additional 14,850 shares during the period. Handelsbanken Fonder AB’s holdings in STERIS were worth $7,908,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in STE. Impax Asset Management Group plc raised its stake in shares of STERIS by 419.1% during the 4th quarter. Impax Asset Management Group plc now owns 964,935 shares of the medical equipment provider’s stock worth $211,430,000 after purchasing an additional 779,038 shares in the last quarter. Envestnet Asset Management Inc. raised its stake in shares of STERIS by 58.4% during the 3rd quarter. Envestnet Asset Management Inc. now owns 586,380 shares of the medical equipment provider’s stock worth $128,663,000 after purchasing an additional 216,113 shares in the last quarter. Artemis Investment Management LLP acquired a new position in shares of STERIS during the 4th quarter valued at about $32,687,000. Lord Abbett & CO. LLC increased its holdings in shares of STERIS by 65.5% during the 3rd quarter. Lord Abbett & CO. LLC now owns 244,659 shares of the medical equipment provider’s stock valued at $53,683,000 after acquiring an additional 96,800 shares during the last quarter. Finally, Invesco Ltd. increased its holdings in shares of STERIS by 12.8% during the 3rd quarter. Invesco Ltd. now owns 718,633 shares of the medical equipment provider’s stock valued at $157,682,000 after acquiring an additional 81,828 shares during the last quarter. 94.69% of the stock is owned by hedge funds and other institutional investors.

STERIS Price Performance

Shares of NYSE:STE opened at $202.80 on Thursday. STERIS plc has a 1-year low of $180.54 and a 1-year high of $254.00. The firm has a market capitalization of $20.04 billion, a PE ratio of 35.52 and a beta of 0.79. The business’s 50 day moving average is $222.36 and its 200-day moving average is $217.06. The company has a current ratio of 2.43, a quick ratio of 1.49 and a debt-to-equity ratio of 0.50.

STERIS (NYSE:STE) last announced its quarterly earnings data on Wednesday, February 7th. The medical equipment provider reported $2.22 earnings per share for the quarter, topping the consensus estimate of $2.17 by $0.05. STERIS had a return on equity of 13.67% and a net margin of 10.48%. The company had revenue of $1.40 billion for the quarter, compared to analyst estimates of $1.35 billion. During the same quarter last year, the firm earned $2.02 EPS. STERIS’s revenue for the quarter was up 14.8% compared to the same quarter last year. Sell-side analysts predict that STERIS plc will post 8.67 earnings per share for the current 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 annualized dividend and a dividend yield of 1.03%. STERIS’s dividend payout ratio (DPR) is presently 36.43%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on STE shares. TheStreet raised STERIS from a “c+” rating to a “b” rating in a report on Wednesday, February 7th. KeyCorp started coverage on STERIS in a report on Tuesday, February 6th. They set an “overweight” rating and a $253.00 price objective on the stock. Needham & Company LLC reissued a “hold” rating on shares of STERIS in a 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 report on Thursday, February 8th. Finally, Stephens reaffirmed an “overweight” rating and issued a $250.00 target price on shares of STERIS in a report on Friday, February 9th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average 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.