Teacher Retirement System of Texas Cuts Stock Holdings in STERIS plc (NYSE:STE)

Teacher Retirement System of Texas cut its stake in STERIS plc (NYSE:STE) by 5.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 19,688 shares of the medical equipment provider’s stock after selling 1,113 shares during the period. Teacher Retirement System of Texas’ holdings in STERIS were worth $4,047,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Franklin Resources Inc. boosted its stake in shares of STERIS by 171.2% in the 3rd quarter. Franklin Resources Inc. now owns 838,569 shares of the medical equipment provider’s stock valued at $191,370,000 after buying an additional 529,308 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its stake in STERIS by 30.8% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 10,970 shares of the medical equipment provider’s stock worth $2,275,000 after acquiring an additional 2,583 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new position in STERIS in the third quarter worth approximately $9,949,000. Public Sector Pension Investment Board grew its holdings in STERIS by 13.2% during the 3rd quarter. Public Sector Pension Investment Board now owns 4,283 shares of the medical equipment provider’s stock worth $1,039,000 after acquiring an additional 500 shares in the last quarter. Finally, Merit Financial Group LLC purchased a new stake in shares of STERIS in the 4th quarter valued at approximately $260,000. 94.69% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently commented on STE. JMP Securities reiterated a “market outperform” rating and set a $265.00 target price on shares of STERIS in a research note on Thursday, February 6th. Piper Sandler increased their price objective on STERIS from $260.00 to $265.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Finally, Stephens reissued an “overweight” rating and set a $240.00 target price on shares of STERIS in a research report on Thursday, February 6th. One equities research 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 company currently has an average rating of “Moderate Buy” and an average price target of $258.75.

STERIS Stock Performance

NYSE STE opened at $223.03 on Tuesday. The company has a fifty day moving average of $221.34 and a two-hundred day moving average of $221.73. The company has a market capitalization of $21.91 billion, a PE ratio of 47.35 and a beta of 0.92. STERIS plc has a 1 year low of $197.82 and a 1 year high of $248.24. 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 announced its earnings results on Wednesday, February 5th. The medical equipment provider reported $2.32 earnings per share (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, analysts expect that STERIS plc will post 9.08 earnings per share for the current year.

STERIS Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Thursday, February 20th were issued a $0.57 dividend. The ex-dividend date of this dividend was Thursday, February 20th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 1.02%. STERIS’s payout ratio is 48.41%.

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.