KLP Kapitalforvaltning AS Purchases New Shares in STERIS plc (NYSE:STE)

KLP Kapitalforvaltning AS acquired a new position in STERIS plc (NYSE:STE) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 31,300 shares of the medical equipment provider’s stock, valued at approximately $6,434,000.

Other large investors also recently made changes to their positions in the company. Magnolia Capital Advisors LLC lifted its position in STERIS by 1.9% during the 4th quarter. Magnolia Capital Advisors LLC now owns 2,534 shares of the medical equipment provider’s stock worth $521,000 after buying an additional 48 shares in the last quarter. SkyView Investment Advisors LLC raised its stake in shares of STERIS by 1.6% in the third quarter. SkyView Investment Advisors LLC now owns 3,153 shares of the medical equipment provider’s stock worth $765,000 after acquiring an additional 51 shares during the last quarter. Park Edge Advisors LLC lifted its position in shares of STERIS by 1.1% during the fourth quarter. Park Edge Advisors LLC now owns 4,662 shares of the medical equipment provider’s stock worth $958,000 after purchasing an additional 51 shares in the last quarter. Citizens Financial Group Inc. RI grew its stake in shares of STERIS by 5.9% during the fourth quarter. Citizens Financial Group Inc. RI now owns 975 shares of the medical equipment provider’s stock valued at $201,000 after purchasing an additional 54 shares during the last quarter. Finally, Opal Wealth Advisors LLC increased its holdings in shares of STERIS by 5.7% in the fourth quarter. Opal Wealth Advisors LLC now owns 1,118 shares of the medical equipment provider’s stock valued at $230,000 after purchasing an additional 60 shares in the last quarter. Institutional investors own 94.69% of the company’s stock.

STERIS Stock Down 0.6 %

NYSE:STE opened at $221.57 on Wednesday. The company has a quick ratio of 1.40, a current ratio of 2.13 and a debt-to-equity ratio of 0.32. STERIS plc has a 12-month low of $197.82 and a 12-month high of $248.24. The stock’s fifty day simple moving average is $221.62 and its 200-day simple moving average is $221.60. The firm has a market capitalization of $21.77 billion, a P/E ratio of 47.04 and a beta of 0.92.

STERIS (NYSE:STE) last issued 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 return on equity of 13.91% and a net margin of 8.66%. Equities research analysts expect that STERIS plc will post 9.08 earnings per share for the current year.

STERIS Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Thursday, February 20th were issued a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a yield of 1.03%. The ex-dividend date was Thursday, February 20th. STERIS’s dividend payout ratio is currently 48.41%.

Wall Street Analyst Weigh In

A number of research analysts have commented on STE shares. Piper Sandler increased their price objective on STERIS from $260.00 to $265.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. JMP Securities reiterated a “market outperform” rating and issued a $265.00 price target on shares of STERIS in a report on Thursday, February 6th. Finally, Stephens reissued an “overweight” rating and set a $240.00 price objective 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 assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price 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.