Clearbridge Investments LLC Decreases Stock Position in STERIS plc (NYSE:STE)

Clearbridge Investments LLC lowered its position in shares of STERIS plc (NYSE:STE) by 0.9% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 151,433 shares of the medical equipment provider’s stock after selling 1,385 shares during the period. Clearbridge Investments LLC owned approximately 0.15% of STERIS worth $31,128,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. Principal Financial Group Inc. lifted its holdings 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 worth $270,230,000 after buying an additional 96,336 shares in the last quarter. Public Sector Pension Investment Board boosted its holdings in STERIS by 13.2% in 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 purchasing an additional 500 shares during the last quarter. Atom Investors LP grew its stake in STERIS by 37.8% during the 3rd quarter. Atom Investors LP now owns 3,716 shares of the medical equipment provider’s stock valued at $901,000 after purchasing an additional 1,020 shares in the last quarter. Hilltop Holdings Inc. purchased a new stake in STERIS during the 3rd quarter worth approximately $218,000. Finally, Investment Management Corp of Ontario raised its position in shares of STERIS by 55.4% in the 3rd quarter. Investment Management Corp of Ontario now owns 3,365 shares of the medical equipment provider’s stock valued at $816,000 after purchasing an additional 1,200 shares in the last quarter. 94.69% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently issued reports on STE. Piper Sandler lifted their price target on shares of STERIS from $260.00 to $265.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Stephens restated an “overweight” rating and issued a $240.00 target price on shares of STERIS in a research note on Thursday, February 6th. Finally, JMP Securities reissued a “market outperform” rating and issued a $265.00 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 assigned a buy rating to the company. According to data from MarketBeat, STERIS has a consensus rating of “Moderate Buy” and a consensus price target of $258.75.

STERIS Trading Down 0.5 %

STERIS stock opened at $225.49 on Wednesday. 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 plc has a 1 year low of $197.82 and a 1 year high of $248.24. The firm’s 50-day moving average is $223.03 and its 200-day moving average is $220.88. The company has a market cap of $22.15 billion, a P/E ratio of 47.87 and a beta of 0.92.

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

STERIS Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Thursday, February 20th were paid a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a yield of 1.01%. The ex-dividend date was Thursday, February 20th. STERIS’s payout ratio is 48.41%.

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.