FIL Ltd Sells 58,092 Shares of STERIS plc (NYSE:STE)

FIL Ltd cut its holdings in STERIS plc (NYSE:STE) by 16.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 302,067 shares of the medical equipment provider’s stock after selling 58,092 shares during the period. FIL Ltd owned 0.31% of STERIS worth $62,093,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the business. Geode Capital Management LLC boosted its holdings in STERIS by 2.4% during the fourth quarter. Geode Capital Management LLC now owns 2,359,748 shares of the medical equipment provider’s stock valued at $483,775,000 after purchasing an additional 56,123 shares in 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 acquiring an additional 172,795 shares during the last quarter. Franklin Resources Inc. raised its position in shares of STERIS by 45.1% during 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 bought a new stake in shares of STERIS during the 4th quarter valued at $238,836,000. Finally, Pictet Asset Management Holding SA raised its position in shares of STERIS by 3.1% during the 4th quarter. Pictet Asset Management Holding SA now owns 1,131,374 shares of the medical equipment provider’s stock valued at $232,565,000 after acquiring an additional 33,618 shares during the last quarter. 94.69% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms recently commented on STE. JMP Securities restated a “market outperform” rating and issued a $265.00 price objective on shares of STERIS in a research report on Thursday, February 6th. Needham & Company LLC restated a “hold” rating on shares of STERIS in a research note on Monday. Stephens reaffirmed an “overweight” rating and issued a $240.00 target price on shares of STERIS in a report on Thursday, February 6th. Finally, Piper Sandler increased their price target on shares of STERIS from $260.00 to $265.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $258.75.

STERIS Price Performance

Shares of NYSE:STE opened at $222.84 on Thursday. STERIS plc has a 52 week low of $197.82 and a 52 week high of $248.24. The firm’s fifty day moving average is $222.60 and its 200-day moving average is $219.88. The firm has a market cap of $21.89 billion, a PE ratio of 47.31 and a beta of 0.87. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.40 and a current ratio of 2.13.

STERIS (NYSE:STE) last announced its earnings results 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%. Sell-side analysts predict that STERIS plc will post 9.08 earnings per share for the current year.

STERIS Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Thursday, February 20th were issued a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a yield of 1.02%. The ex-dividend date was Thursday, February 20th. STERIS’s dividend payout ratio (DPR) is presently 48.41%.

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.