Forsta AP Fonden Acquires 10,600 Shares of STERIS plc (NYSE:STE)

Forsta AP Fonden lifted its stake in STERIS plc (NYSE:STE) by 32.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 43,400 shares of the medical equipment provider’s stock after buying an additional 10,600 shares during the period. Forsta AP Fonden’s holdings in STERIS were worth $8,921,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of STE. Public Sector Pension Investment Board grew its stake in STERIS by 71.5% during the second quarter. Public Sector Pension Investment Board now owns 3,783 shares of the medical equipment provider’s stock worth $831,000 after buying an additional 1,577 shares in the last quarter. AQR Capital Management LLC raised its holdings in shares of STERIS by 29.1% during the 2nd quarter. AQR Capital Management LLC now owns 15,094 shares of the medical equipment provider’s stock worth $3,276,000 after buying an additional 3,398 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of STERIS by 4.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 61,732 shares of the medical equipment provider’s stock worth $13,553,000 after buying an additional 2,562 shares during the last quarter. NewEdge Advisors LLC boosted its stake in STERIS by 22.9% in the second quarter. NewEdge Advisors LLC now owns 5,139 shares of the medical equipment provider’s stock valued at $1,128,000 after buying an additional 956 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. grew its position in STERIS by 7.6% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,040 shares of the medical equipment provider’s stock valued at $448,000 after acquiring an additional 144 shares during the last quarter. 94.69% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, SVP Cary L. Majors sold 1,682 shares of STERIS stock in a transaction on Monday, November 25th. The shares were sold at an average price of $217.32, for a total value of $365,532.24. Following the completion of the sale, the senior vice president now owns 11,372 shares in the company, valued at $2,471,363.04. The trade was a 12.88 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 1.14% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

STE has been the subject of a number of research reports. Needham & Company LLC reissued a “hold” rating on shares of STERIS in a report on Friday, November 8th. JMP Securities restated a “market outperform” rating and issued a $265.00 target price on shares of STERIS in a research report on Monday, November 18th. Stephens reaffirmed an “overweight” rating and set a $260.00 target price on shares of STERIS in a research note on Thursday, November 7th. Piper Sandler upgraded STERIS from a “neutral” rating to an “overweight” rating and increased their price target for the company from $230.00 to $260.00 in a research note on Thursday, October 24th. Finally, StockNews.com downgraded STERIS from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, October 29th. One investment 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.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $262.50.

STERIS Price Performance

Shares of STE opened at $221.66 on Friday. The business has a 50-day moving average of $211.90 and a 200-day moving average of $224.77. STERIS plc has a 1 year low of $197.82 and a 1 year high of $248.24. The company has a market capitalization of $21.88 billion, a price-to-earnings ratio of 50.61 and a beta of 0.84. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.41 and a quick ratio of 1.55.

STERIS (NYSE:STE) last posted its quarterly earnings data on Wednesday, November 6th. The medical equipment provider reported $2.14 EPS for the quarter, beating analysts’ consensus estimates of $2.12 by $0.02. STERIS had a net margin of 8.02% and a return on equity of 13.78%. The company had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.33 billion. During the same period in the prior year, the firm posted $2.03 EPS. The company’s quarterly revenue was up 7.3% on a year-over-year basis. As a group, equities research analysts anticipate that STERIS plc will post 9.11 earnings per share for the current year.

STERIS Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 21st. Investors of record on Thursday, February 20th will be paid a dividend of $0.57 per share. The ex-dividend date of this dividend is Thursday, February 20th. This represents a $2.28 annualized dividend and a yield of 1.03%. STERIS’s dividend payout ratio is currently 52.05%.

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.