Thoroughbred Financial Services LLC Reduces Stake in STERIS plc (NYSE:STE)

Thoroughbred Financial Services LLC cut its holdings in shares of STERIS plc (NYSE:STE) by 3.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 9,828 shares of the medical equipment provider’s stock after selling 367 shares during the period. Thoroughbred Financial Services LLC’s holdings in STERIS were worth $2,020,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently bought and sold shares of STE. Franklin Resources Inc. increased its holdings in 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 buying an additional 529,308 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in STERIS by 30.8% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 10,970 shares of the medical equipment provider’s stock worth $2,275,000 after acquiring an additional 2,583 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in STERIS in the third quarter valued at $9,949,000. Public Sector Pension Investment Board boosted its stake 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 acquiring an additional 500 shares in the last quarter. Finally, Merit Financial Group LLC acquired a new stake in shares of STERIS in the fourth quarter valued at approximately $260,000. 94.69% of the stock is owned by institutional investors and hedge funds.

STERIS Trading Down 3.7 %

NYSE:STE opened at $213.16 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 company has a market capitalization of $20.94 billion, a PE ratio of 45.26 and a beta of 0.92. The stock has a fifty day simple moving average of $223.23 and a 200-day simple moving average of $220.72. STERIS plc has a 52-week low of $197.82 and a 52-week high of $248.24.

STERIS (NYSE:STE) last released its quarterly earnings results on Wednesday, February 5th. The medical equipment provider reported $2.32 earnings per share for the quarter, missing the consensus estimate of $2.33 by ($0.01). STERIS had a return on equity of 13.91% and a net margin of 8.66%. On average, equities research analysts expect that STERIS plc will post 9.08 earnings per share for the current fiscal year.

STERIS Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Thursday, February 20th were issued a $0.57 dividend. This represents a $2.28 annualized dividend and a yield of 1.07%. The ex-dividend date of this dividend was Thursday, February 20th. STERIS’s dividend payout ratio (DPR) is 48.41%.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. JMP Securities reissued a “market outperform” rating and set a $265.00 price objective on shares of STERIS in a research report on Thursday, February 6th. 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, Piper Sandler increased their price target on shares of STERIS from $260.00 to $265.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, STERIS presently has a consensus rating of “Moderate Buy” and an average price target of $258.75.

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.