STERIS plc (NYSE:STE) Shares Sold by Pitcairn Co.

Pitcairn Co. trimmed its holdings in shares of STERIS plc (NYSE:STE) by 2.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,679 shares of the medical equipment provider’s stock after selling 50 shares during the period. Pitcairn Co.’s holdings in STERIS were worth $345,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of STE. Cynosure Group LLC bought a new stake in STERIS during the fourth quarter worth approximately $279,000. Geode Capital Management LLC increased its position in shares of STERIS by 2.4% during the 4th quarter. Geode Capital Management LLC now owns 2,359,748 shares of the medical equipment provider’s stock valued at $483,775,000 after purchasing an additional 56,123 shares during the period. National Bank of Canada FI raised its stake in shares of STERIS by 16.3% in the 4th quarter. National Bank of Canada FI now owns 46,221 shares of the medical equipment provider’s stock worth $9,501,000 after buying an additional 6,486 shares in the last quarter. HighPoint Advisor Group LLC acquired a new stake in shares of STERIS in the fourth quarter valued at $201,000. Finally, Franklin Resources Inc. boosted its stake in STERIS by 45.1% during the fourth quarter. Franklin Resources Inc. now owns 1,216,821 shares of the medical equipment provider’s stock valued at $250,130,000 after buying an additional 378,252 shares in the last quarter. 94.69% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Piper Sandler boosted their price target on shares of STERIS from $260.00 to $265.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. JMP Securities reiterated a “market outperform” rating and issued a $265.00 target price on shares of STERIS in a report on Thursday, February 6th. Finally, Stephens reissued an “overweight” rating and set a $240.00 target price on shares of STERIS in a research note on Thursday, February 6th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $258.75.

STERIS Price Performance

NYSE STE opened at $213.16 on Monday. The company has a current ratio of 2.13, a quick ratio of 1.40 and a debt-to-equity ratio of 0.32. STERIS plc has a 1 year low of $197.82 and a 1 year high of $248.24. The company has a market cap of $20.94 billion, a PE ratio of 45.26 and a beta of 0.87. The stock’s 50-day moving average price is $223.23 and its two-hundred day moving average price is $220.44.

STERIS (NYSE:STE) last released its quarterly 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%. On average, analysts predict that STERIS plc will post 9.08 EPS for the current year.

STERIS Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Thursday, February 20th were issued 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 dividend yield of 1.07%. STERIS’s dividend 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.