Principal Financial Group Inc. Purchases 5,419 Shares of STERIS plc (NYSE:STE)

Principal Financial Group Inc. lifted its position in shares of STERIS plc (NYSE:STE) by 0.5% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,119,643 shares of the medical equipment provider’s stock after purchasing an additional 5,419 shares during the quarter. Principal Financial Group Inc. owned about 1.13% of STERIS worth $230,160,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Franklin Resources Inc. boosted its stake in STERIS by 171.2% during the 3rd 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 during the last quarter. Assenagon Asset Management S.A. increased its holdings in STERIS by 7,418.7% in the 3rd quarter. Assenagon Asset Management S.A. now owns 309,771 shares of the medical equipment provider’s stock worth $75,132,000 after buying an additional 305,651 shares in the last quarter. Boston Trust Walden Corp raised its position 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 worth $46,198,000 after buying an additional 179,829 shares during the last quarter. Swedbank AB purchased a new stake in shares of STERIS during the 3rd quarter valued at about $28,251,000. Finally, Benjamin Edwards Inc. grew its stake in shares of STERIS by 2,123.2% in the third quarter. Benjamin Edwards Inc. now owns 113,672 shares of the medical equipment provider’s stock worth $27,574,000 after acquiring an additional 108,559 shares during the period. 94.69% of the stock is owned by hedge funds and other institutional investors.

STERIS Stock Performance

Shares of NYSE STE opened at $219.54 on Tuesday. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.13 and a quick ratio of 1.55. STERIS plc has a 1 year low of $197.82 and a 1 year high of $248.24. The firm has a fifty day moving average price of $213.03 and a 200-day moving average price of $223.83. The stock has a market cap of $21.57 billion, a PE ratio of 46.61 and a beta of 0.84.

STERIS (NYSE:STE) last released its quarterly earnings data 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 analysts anticipate that STERIS plc will post 9.08 earnings per share for the current fiscal year.

STERIS Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, March 21st. Stockholders of record on Thursday, February 20th will be issued a $0.57 dividend. This represents a $2.28 annualized dividend and a dividend yield of 1.04%. The ex-dividend date is Thursday, February 20th. STERIS’s dividend payout ratio (DPR) is presently 48.41%.

Analysts Set New Price Targets

Several brokerages recently issued reports on STE. JMP Securities restated a “market outperform” rating and issued a $265.00 target price on shares of STERIS in a report on Thursday, February 6th. StockNews.com cut shares of STERIS from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, October 29th. Piper Sandler upped their target price on shares of STERIS from $260.00 to $265.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Needham & Company LLC reiterated a “hold” rating on shares of STERIS in a research note on Friday, November 8th. Finally, Stephens restated an “overweight” rating and issued a $240.00 price objective on shares of STERIS in a research note 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. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $258.75.

Insider Buying and Selling

In other STERIS news, SVP Cary L. Majors sold 1,682 shares of the stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $217.32, for a total transaction of $365,532.24. Following the completion of the transaction, the senior vice president now owns 11,372 shares of the company’s stock, valued at $2,471,363.04. This represents a 12.88 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.14% of the stock is owned by company insiders.

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.