Sherbrooke Park Advisers LLC Makes New $603,000 Investment in STERIS plc (NYSE:STE)

Sherbrooke Park Advisers LLC acquired a new position in shares of STERIS plc (NYSE:STE) in the fourth quarter, Holdings Channel reports. The fund acquired 2,932 shares of the medical equipment provider’s stock, valued at approximately $603,000.

A number of other hedge funds also recently added to or reduced their stakes in STE. Royal Bank of Canada raised its stake in shares of STERIS by 57.4% during the 4th quarter. Royal Bank of Canada now owns 167,224 shares of the medical equipment provider’s stock worth $34,376,000 after buying an additional 60,981 shares in the last quarter. Rafferty Asset Management LLC raised its stake in shares of STERIS by 11.9% during the 4th quarter. Rafferty Asset Management LLC now owns 11,189 shares of the medical equipment provider’s stock worth $2,300,000 after buying an additional 1,188 shares in the last quarter. Raiffeisen Bank International AG purchased a new position in STERIS in the 4th quarter valued at approximately $1,088,000. ProShare Advisors LLC increased its stake in STERIS by 19.8% in the 4th quarter. ProShare Advisors LLC now owns 22,318 shares of the medical equipment provider’s stock valued at $4,588,000 after purchasing an additional 3,685 shares in the last quarter. Finally, Quantinno Capital Management LP increased its stake in STERIS by 2.8% in the 4th quarter. Quantinno Capital Management LP now owns 23,053 shares of the medical equipment provider’s stock valued at $4,739,000 after purchasing an additional 630 shares in the last quarter. 94.69% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have weighed in on STE. Needham & Company LLC reissued a “hold” rating on shares of STERIS in a research report on Monday, April 7th. Stephens reiterated an “overweight” rating and issued a $250.00 target price on shares of STERIS in a report on Thursday. JMP Securities lifted their target price on STERIS from $265.00 to $280.00 and gave the company a “market outperform” rating in a report on Friday. Finally, Piper Sandler lifted their target price on STERIS from $260.00 to $265.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, STERIS has an average rating of “Moderate Buy” and an average target price of $265.00.

STERIS Stock Performance

Shares of STE stock opened at $252.12 on Friday. The company has a quick ratio of 1.40, a current ratio of 2.13 and a debt-to-equity ratio of 0.32. The business has a 50 day moving average of $223.65 and a two-hundred day moving average of $219.15. STERIS plc has a 52 week low of $200.98 and a 52 week high of $252.20. The company has a market cap of $24.77 billion, a P/E ratio of 53.53 and a beta of 0.96.

STERIS (NYSE:STE) last issued its quarterly earnings data on Wednesday, May 14th. The medical equipment provider reported $2.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.59 by $0.15. The business had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.47 billion. STERIS had a return on equity of 13.91% and a net margin of 8.66%. The business’s revenue was up 5.7% on a year-over-year basis. During the same period in the previous year, the firm posted $2.58 earnings per share. As a group, analysts anticipate that STERIS plc will post 9.08 EPS for the current year.

STERIS Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 26th. Stockholders of record on Tuesday, June 10th will be given a dividend of $0.57 per share. The ex-dividend date is Tuesday, June 10th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 0.90%. STERIS’s dividend payout ratio (DPR) is presently 36.77%.

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.