Connable Office Inc. Trims Holdings in STERIS plc (NYSE:STE)

Connable Office Inc. trimmed its position in shares of STERIS plc (NYSE:STE) by 3.1% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 4,643 shares of the medical equipment provider’s stock after selling 148 shares during the quarter. Connable Office Inc.’s holdings in STERIS were worth $954,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Geode Capital Management LLC grew its position in STERIS by 0.7% during the 3rd quarter. Geode Capital Management LLC now owns 2,303,625 shares of the medical equipment provider’s stock valued at $556,786,000 after purchasing an additional 17,007 shares during the last quarter. Principal Financial Group Inc. grew its position in STERIS by 0.5% during the 4th quarter. Principal Financial Group Inc. now owns 1,119,643 shares of the medical equipment provider’s stock valued at $230,160,000 after purchasing an additional 5,419 shares during the last quarter. Franklin Resources Inc. grew its position in STERIS by 171.2% during the 3rd quarter. Franklin Resources Inc. now owns 838,569 shares of the medical equipment provider’s stock valued at $191,370,000 after purchasing an additional 529,308 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in STERIS by 1.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 551,453 shares of the medical equipment provider’s stock valued at $133,749,000 after purchasing an additional 6,334 shares during the last quarter. Finally, Swiss National Bank grew its position in STERIS by 0.3% during the 3rd quarter. Swiss National Bank now owns 293,360 shares of the medical equipment provider’s stock valued at $71,152,000 after purchasing an additional 800 shares during the last quarter. 94.69% of the stock is owned by hedge funds and other institutional investors.

STERIS Price Performance

Shares of NYSE:STE opened at $219.23 on Friday. The firm’s 50 day moving average price is $214.76 and its 200-day moving average price is $223.11. STERIS plc has a twelve month low of $197.82 and a twelve month high of $248.24. 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 stock has a market capitalization of $21.54 billion, a PE ratio of 46.54 and a beta of 0.84.

STERIS (NYSE:STE) last issued its quarterly earnings data 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%. Equities research analysts expect that STERIS plc will post 9.08 EPS for the current year.

STERIS Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 21st. Stockholders of record on Thursday, February 20th will be paid a $0.57 dividend. This represents a $2.28 annualized dividend and a dividend yield of 1.04%. The ex-dividend date of this dividend is Thursday, February 20th. STERIS’s dividend payout ratio (DPR) is presently 48.41%.

Analyst Ratings Changes

STE has been the topic of several recent analyst reports. Needham & Company LLC reissued a “hold” rating on shares of STERIS in a research report on Friday, November 8th. Piper Sandler raised 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. Stephens reaffirmed an “overweight” rating and set a $240.00 price target on shares of STERIS in a report on Thursday, February 6th. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $265.00 price target on shares of STERIS in a report on Thursday, February 6th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus 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.