Adage Capital Partners GP L.L.C. Purchases 11,871 Shares of STERIS plc (NYSE:STE)

Adage Capital Partners GP L.L.C. boosted its position in shares of STERIS plc (NYSE:STE) by 39.2% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 42,186 shares of the medical equipment provider’s stock after buying an additional 11,871 shares during the quarter. Adage Capital Partners GP L.L.C.’s holdings in STERIS were worth $8,672,000 as of its most recent filing with the Securities & Exchange Commission.

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

Wall Street Analysts Forecast Growth

Several brokerages have commented on STE. JMP Securities restated a “market outperform” rating and issued a $265.00 price objective on shares of STERIS in a report on Thursday, April 10th. 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 research note on Monday, February 3rd. Stephens reiterated an “overweight” rating and issued a $240.00 price target on shares of STERIS in a research note on Thursday, February 6th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of STERIS in a research note on Monday, April 7th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $258.75.

STERIS Stock Up 0.1 %

Shares of STERIS stock opened at $225.26 on Tuesday. The firm has a market cap of $22.13 billion, a price-to-earnings ratio of 47.83 and a beta of 0.87. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.13 and a quick ratio of 1.40. STERIS plc has a 1 year low of $200.98 and a 1 year high of $248.24. The company has a 50-day moving average of $222.97 and a 200 day moving average of $218.84.

STERIS (NYSE:STE) last posted its quarterly earnings results on Wednesday, February 5th. The medical equipment provider reported $2.32 EPS for the quarter, missing analysts’ consensus estimates 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, sell-side analysts anticipate that STERIS plc will post 9.08 earnings per share for the current fiscal year.

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.