Sterling Capital Management LLC Raises Holdings in STERIS plc (NYSE:STE)

Sterling Capital Management LLC boosted its stake in shares of STERIS plc (NYSE:STE) by 55.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,843 shares of the medical equipment provider’s stock after buying an additional 2,084 shares during the period. Sterling Capital Management LLC’s holdings in STERIS were worth $1,201,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Norges Bank bought a new stake in STERIS during the fourth quarter valued at about $238,836,000. Raymond James Financial Inc. bought a new stake in shares of STERIS in the 4th quarter valued at about $223,987,000. Franklin Resources Inc. grew its position 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 buying an additional 529,308 shares during the last quarter. Wellington Management Group LLP raised its stake in shares of STERIS by 4,534.6% during the 4th quarter. Wellington Management Group LLP now owns 219,032 shares of the medical equipment provider’s stock worth $45,024,000 after acquiring an additional 214,306 shares in the last quarter. Finally, Boston Trust Walden Corp lifted its position in STERIS by 400.4% during the fourth quarter. Boston Trust Walden Corp now owns 224,741 shares of the medical equipment provider’s stock valued at $46,198,000 after acquiring an additional 179,829 shares during the last quarter. 94.69% of the stock is currently owned by hedge funds and other institutional investors.

STERIS Price Performance

Shares of STE opened at $221.17 on Wednesday. The business’s 50-day moving average is $222.59 and its two-hundred day moving average is $219.41. The company has a market capitalization of $21.73 billion, a P/E ratio of 46.96 and a beta of 0.87. STERIS plc has a fifty-two week low of $197.82 and a fifty-two week high of $248.24. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.40 and a current ratio of 2.13.

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

STERIS Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Thursday, February 20th were issued a $0.57 dividend. The ex-dividend date was Thursday, February 20th. This represents a $2.28 dividend on an annualized basis and a yield of 1.03%. STERIS’s payout ratio is 48.41%.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. Needham & Company LLC reaffirmed a “hold” rating on shares of STERIS in a report on Monday, April 7th. Piper Sandler upped their target price on STERIS from $260.00 to $265.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Stephens restated an “overweight” rating and set a $240.00 price target on shares of STERIS in a research note on Thursday, February 6th. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $265.00 price objective on shares of STERIS in a research report on Thursday, April 10th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $258.75.

STERIS Company 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.