Norges Bank Purchases New Shares in STERIS plc (NYSE:STE)

Norges Bank purchased a new position in shares of STERIS plc (NYSE:STE) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 1,161,880 shares of the medical equipment provider’s stock, valued at approximately $238,836,000. Norges Bank owned 1.18% of STERIS as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Principal Financial Group Inc. raised its position in shares of STERIS by 9.5% in the third quarter. Principal Financial Group Inc. now owns 1,114,224 shares of the medical equipment provider’s stock valued at $270,230,000 after buying an additional 96,336 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in STERIS by 2.5% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 43,253 shares of the medical equipment provider’s stock valued at $10,491,000 after acquiring an additional 1,053 shares in the last quarter. Public Sector Pension Investment Board lifted its position in shares of 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 valued at $1,039,000 after acquiring an additional 500 shares during the period. Aureus Asset Management LLC grew its holdings in shares of STERIS by 0.4% during the 3rd quarter. Aureus Asset Management LLC now owns 30,516 shares of the medical equipment provider’s stock worth $7,401,000 after purchasing an additional 116 shares in the last quarter. Finally, Atom Investors LP increased its position in shares of STERIS by 37.8% in the third quarter. Atom Investors LP now owns 3,716 shares of the medical equipment provider’s stock worth $901,000 after purchasing an additional 1,020 shares during the period. Institutional investors and hedge funds own 94.69% of the company’s stock.

STERIS Stock Down 0.6 %

STE stock opened at $222.99 on Monday. The firm has a 50-day moving average price of $222.51 and a 200-day moving average price of $221.15. STERIS plc has a 12 month low of $197.82 and a 12 month high of $248.24. The company has a current ratio of 2.13, a quick ratio of 1.40 and a debt-to-equity ratio of 0.32. The stock has a market capitalization of $21.91 billion, a P/E ratio of 47.34 and a beta of 0.92.

STERIS (NYSE:STE) last issued its quarterly earnings data on Wednesday, February 5th. The medical equipment provider reported $2.32 EPS for the quarter, missing the consensus estimate 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, equities research analysts anticipate that STERIS plc will post 9.08 EPS for the current fiscal year.

STERIS Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Thursday, February 20th were given a dividend of $0.57 per share. 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 dividend payout ratio is currently 48.41%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on STE. Stephens reiterated an “overweight” rating and set a $240.00 price objective on shares of STERIS in a research note on Thursday, February 6th. JMP Securities reiterated a “market outperform” rating and set a $265.00 price target on shares of STERIS in a research report on Thursday, February 6th. Finally, Piper Sandler boosted their price objective 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 analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, STERIS currently has an average 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.