Corebridge Financial Inc. Decreases Stock Position in STERIS plc (NYSE:STE)

Corebridge Financial Inc. decreased its holdings in STERIS plc (NYSE:STE) by 5.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 23,371 shares of the medical equipment provider’s stock after selling 1,471 shares during the period. Corebridge Financial Inc.’s holdings in STERIS were worth $4,804,000 as of its most recent SEC filing.

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

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Stephens reissued an “overweight” rating and set a $240.00 price target on shares of STERIS in a report on Thursday, February 6th. JMP Securities reissued a “market outperform” rating and issued a $265.00 target price on shares of STERIS in a research report on Thursday, February 6th. Finally, Piper Sandler upped their price target on shares of STERIS from $260.00 to $265.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. One research 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, STERIS presently has an average rating of “Moderate Buy” and a consensus target price of $258.75.

STERIS Stock Performance

Shares of STE opened at $222.99 on Friday. The business has a 50-day simple moving average of $222.51 and a two-hundred day simple moving average of $221.30. 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 52 week low of $197.82 and a 52 week high of $248.24. The stock has a market cap of $21.91 billion, a price-to-earnings ratio of 47.34 and a beta of 0.92.

STERIS (NYSE:STE) last released its earnings results on Wednesday, February 5th. The medical equipment provider reported $2.32 earnings per share (EPS) 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%. On average, analysts expect that STERIS plc will post 9.08 EPS for the current year.

STERIS Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Thursday, February 20th were paid 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 yield of 1.02%. STERIS’s payout ratio is presently 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.