Alliancebernstein L.P. Reduces Stock Holdings in STERIS plc (NYSE:STE)

Alliancebernstein L.P. reduced its position in STERIS plc (NYSE:STE) by 88.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 170,831 shares of the medical equipment provider’s stock after selling 1,276,086 shares during the quarter. Alliancebernstein L.P. owned approximately 0.17% of STERIS worth $35,116,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently made changes to their positions in the company. Norges Bank purchased a new stake in STERIS in the 4th quarter worth about $238,836,000. Raymond James Financial Inc. bought a new position in shares of STERIS in the fourth quarter worth $223,987,000. Franklin Resources Inc. grew its position in shares of STERIS by 171.2% in the third quarter. Franklin Resources Inc. now owns 838,569 shares of the medical equipment provider’s stock valued at $191,370,000 after purchasing an additional 529,308 shares in the last quarter. Wellington Management Group LLP grew its position in shares of STERIS by 4,534.6% in the fourth quarter. Wellington Management Group LLP now owns 219,032 shares of the medical equipment provider’s stock valued at $45,024,000 after purchasing an additional 214,306 shares in the last quarter. Finally, Boston Trust Walden Corp lifted its holdings in STERIS by 400.4% during the 4th quarter. Boston Trust Walden Corp now owns 224,741 shares of the medical equipment provider’s stock worth $46,198,000 after purchasing an additional 179,829 shares in the last quarter. 94.69% of the stock is currently owned by institutional investors.

STERIS Stock Performance

Shares of STE stock opened at $213.16 on Friday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.40 and a current ratio of 2.13. The stock has a 50 day moving average price of $223.23 and a two-hundred day moving average price of $220.57. The company has a market capitalization of $20.94 billion, a P/E ratio of 45.26 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.

STERIS (NYSE:STE) last issued its quarterly 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 return on equity of 13.91% and a net margin of 8.66%. Analysts expect 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 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 dividend yield of 1.07%. STERIS’s payout ratio is currently 48.41%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on STE. Stephens reiterated an “overweight” rating and set a $240.00 price target on shares of STERIS in a research report on Thursday, February 6th. JMP Securities reissued a “market outperform” rating and set a $265.00 price objective on shares of STERIS in a research note on Thursday, February 6th. Finally, Piper Sandler upped their target price on STERIS from $260.00 to $265.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. 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.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $258.75.

STERIS 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.