Sterling Capital Management LLC Buys 2,084 Shares of STERIS plc (NYSE:STE)

Sterling Capital Management LLC increased its position in STERIS plc (NYSE:STE) by 55.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,843 shares of the medical equipment provider’s stock after buying an additional 2,084 shares during the period. Sterling Capital Management LLC’s holdings in STERIS were worth $1,201,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in STE. Covestor Ltd grew its holdings in shares of STERIS by 20.8% in the fourth quarter. Covestor Ltd now owns 441 shares of the medical equipment provider’s stock valued at $91,000 after purchasing an additional 76 shares in the last quarter. Argent Trust Co increased its holdings in shares of STERIS by 11.9% in the 4th quarter. Argent Trust Co now owns 2,213 shares of the medical equipment provider’s stock worth $455,000 after buying an additional 236 shares during the last quarter. Treasurer of the State of North Carolina raised its position in shares of STERIS by 0.5% during the 4th quarter. Treasurer of the State of North Carolina now owns 44,509 shares of the medical equipment provider’s stock valued at $9,149,000 after buying an additional 200 shares in the last quarter. Bessemer Group Inc. lifted its holdings in shares of STERIS by 0.5% in the 4th quarter. Bessemer Group Inc. now owns 1,141,125 shares of the medical equipment provider’s stock valued at $234,569,000 after acquiring an additional 5,434 shares during the last quarter. Finally, Bank of Nova Scotia grew its position in STERIS by 382.7% in the fourth quarter. Bank of Nova Scotia now owns 59,508 shares of the medical equipment provider’s stock worth $12,232,000 after acquiring an additional 47,181 shares in the last quarter. Hedge funds and other institutional investors own 94.69% of the company’s stock.

Analysts Set New Price Targets

STE has been the subject of a number of recent research reports. JMP Securities reiterated a “market outperform” rating and issued a $265.00 target price on shares of STERIS in a report on Thursday, April 10th. Stephens reissued an “overweight” rating and issued a $240.00 target price on shares of STERIS in a research note on Thursday, February 6th. Piper Sandler lifted 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. Finally, Needham & Company LLC reissued a “hold” rating on shares of STERIS in a research report on Monday, April 7th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, STERIS currently has an average rating of “Moderate Buy” and a consensus price target of $258.75.

STERIS Trading Down 1.3 %

STE stock opened at $221.17 on Wednesday. STERIS plc has a 12 month low of $197.82 and a 12 month high of $248.24. The firm’s 50-day moving average is $222.59 and its 200 day moving average is $219.41. The company has a market capitalization of $21.73 billion, a PE ratio of 46.96 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 (NYSE:STE) last posted 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 net margin of 8.66% and a return on equity of 13.91%. On average, research analysts anticipate that STERIS plc will post 9.08 EPS for the current year.

STERIS Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Thursday, February 20th were given a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 1.03%. The ex-dividend date was Thursday, February 20th. STERIS’s payout ratio is 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.