Wellington Management Group LLP Raises Stock Position in STERIS plc (NYSE:STE)

Wellington Management Group LLP raised its stake in shares of STERIS plc (NYSE:STE) by 4,534.6% during the 4th quarter, HoldingsChannel.com reports. The firm owned 219,032 shares of the medical equipment provider’s stock after acquiring an additional 214,306 shares during the quarter. Wellington Management Group LLP’s holdings in STERIS were worth $45,024,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of STE. Principal Financial Group Inc. lifted its stake in STERIS by 9.5% in the 3rd quarter. Principal Financial Group Inc. now owns 1,114,224 shares of the medical equipment provider’s stock valued at $270,230,000 after buying an additional 96,336 shares in the last quarter. Public Sector Pension Investment Board raised its holdings in shares of STERIS by 13.2% during the third quarter. Public Sector Pension Investment Board now owns 4,283 shares of the medical equipment provider’s stock valued at $1,039,000 after acquiring an additional 500 shares during the last quarter. Hilltop Holdings Inc. purchased a new position in shares of STERIS in the third quarter valued at approximately $218,000. Investment Management Corp of Ontario boosted its stake in shares of STERIS by 55.4% in the third quarter. Investment Management Corp of Ontario now owns 3,365 shares of the medical equipment provider’s stock worth $816,000 after acquiring an additional 1,200 shares during the last quarter. Finally, Quarry LP purchased a new stake in shares of STERIS during the third quarter worth approximately $67,000. Institutional investors and hedge funds own 94.69% of the company’s stock.

STERIS Trading Down 3.7 %

Shares of STE stock opened at $213.16 on Friday. 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 twelve month low of $197.82 and a twelve month high of $248.24. The company’s 50-day moving average price is $223.23 and its 200-day moving average price is $220.57. The stock has a market cap of $20.94 billion, a price-to-earnings ratio of 45.26 and a beta of 0.87.

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 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 earnings per share for the current year.

STERIS Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Thursday, February 20th were given a $0.57 dividend. The ex-dividend date of this dividend was Thursday, February 20th. This represents a $2.28 dividend on an annualized basis and a yield of 1.07%. STERIS’s dividend payout ratio is currently 48.41%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. JMP Securities restated a “market outperform” rating and issued a $265.00 price objective on shares of STERIS in a report on Thursday, February 6th. Piper Sandler boosted their price target on shares of STERIS from $260.00 to $265.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Finally, Stephens reiterated an “overweight” rating and issued a $240.00 price objective on shares of STERIS in a report on Thursday, February 6th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus 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.