Allred Capital Management LLC Acquires Shares of 2,732 STERIS plc (NYSE:STE)

Allred Capital Management LLC bought a new position in STERIS plc (NYSE:STE) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 2,732 shares of the medical equipment provider’s stock, valued at approximately $562,000.

Several other institutional investors have also added to or reduced their stakes in the company. Geode Capital Management LLC boosted its position in shares of STERIS by 2.4% during the 4th quarter. Geode Capital Management LLC now owns 2,359,748 shares of the medical equipment provider’s stock valued at $483,775,000 after acquiring an additional 56,123 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in shares of STERIS by 15.9% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,261,927 shares of the medical equipment provider’s stock valued at $257,585,000 after buying an additional 172,795 shares in the last quarter. Franklin Resources Inc. lifted its holdings in shares of STERIS by 45.1% in the 4th quarter. Franklin Resources Inc. now owns 1,216,821 shares of the medical equipment provider’s stock valued at $250,130,000 after acquiring an additional 378,252 shares during the last quarter. Norges Bank purchased a new position in STERIS in the fourth quarter worth about $238,836,000. Finally, Bessemer Group Inc. grew its position in STERIS by 0.5% in the fourth quarter. Bessemer Group Inc. now owns 1,141,125 shares of the medical equipment provider’s stock worth $234,569,000 after acquiring an additional 5,434 shares in the last quarter. Hedge funds and other institutional investors own 94.69% of the company’s stock.

Analyst Upgrades and Downgrades

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

STERIS Stock Performance

STE opened at $222.53 on Friday. The firm’s 50-day moving average price is $222.50 and its 200-day moving average price is $219.28. The company has a market cap of $21.86 billion, a P/E ratio of 47.25 and a beta of 0.87. 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 plc has a 52-week low of $197.84 and a 52-week high of $248.24.

STERIS (NYSE:STE) last announced its quarterly earnings data on Wednesday, February 5th. The medical equipment provider reported $2.32 EPS 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 anticipate that STERIS plc will post 9.08 EPS for the current fiscal year.

STERIS Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Thursday, February 20th were issued a $0.57 dividend. This represents a $2.28 annualized dividend and a yield of 1.02%. 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.