Davis R M Inc. Has $7.62 Million Stock Position in STERIS plc (NYSE:STE)

Davis R M Inc. lowered its stake in STERIS plc (NYSE:STE) by 8.7% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 37,066 shares of the medical equipment provider’s stock after selling 3,552 shares during the period. Davis R M Inc.’s holdings in STERIS were worth $7,619,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of STE. Raymond James Financial Inc. acquired a new position in STERIS in the 4th quarter valued at about $223,987,000. Franklin Resources Inc. grew its stake in STERIS by 171.2% in the 3rd quarter. Franklin Resources Inc. now owns 838,569 shares of the medical equipment provider’s stock valued at $191,370,000 after buying an additional 529,308 shares during the last quarter. Boston Trust Walden Corp grew its stake in STERIS by 400.4% in the 4th quarter. Boston Trust Walden Corp now owns 224,741 shares of the medical equipment provider’s stock valued at $46,198,000 after buying an additional 179,829 shares during the last quarter. Swedbank AB acquired a new position in STERIS in the 3rd quarter valued at about $28,251,000. Finally, Benjamin Edwards Inc. grew its stake in STERIS by 2,123.2% in the 3rd quarter. Benjamin Edwards Inc. now owns 113,672 shares of the medical equipment provider’s stock valued at $27,574,000 after buying an additional 108,559 shares during the last quarter. Institutional investors and hedge funds own 94.69% of the company’s stock.

STERIS Stock Performance

Shares of NYSE:STE opened at $231.49 on Tuesday. The company’s 50 day moving average price is $217.49 and its two-hundred day moving average price is $222.68. STERIS plc has a 12-month low of $197.82 and a 12-month high of $248.24. The firm has a market cap of $22.74 billion, a PE ratio of 49.15 and a beta of 0.92. The company has a quick ratio of 1.40, a current ratio of 2.13 and a debt-to-equity ratio of 0.32.

STERIS (NYSE:STE) last issued 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 return on equity of 13.91% and a net margin of 8.66%. Equities research analysts predict that STERIS plc will post 9.08 earnings per share for the current year.

STERIS Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 21st. Stockholders of record on Thursday, February 20th will be issued a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 0.98%. The ex-dividend date of this dividend is Thursday, February 20th. STERIS’s dividend payout ratio (DPR) is presently 48.41%.

Analyst Upgrades and Downgrades

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

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.