STERIS plc (NYSE:STE) Shares Sold by Advisors Capital Management LLC

Advisors Capital Management LLC lessened its holdings in shares of STERIS plc (NYSE:STE - Free Report) by 53.9% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,415 shares of the medical equipment provider's stock after selling 3,987 shares during the quarter. Advisors Capital Management LLC's holdings in STERIS were worth $702,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Franklin Resources Inc. lifted its holdings in STERIS by 171.2% during 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. increased its holdings in STERIS by 30.8% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 10,970 shares of the medical equipment provider's stock worth $2,275,000 after purchasing an additional 2,583 shares during the period. Wilmington Savings Fund Society FSB purchased a new stake in shares of STERIS during the third quarter worth approximately $9,949,000. Merit Financial Group LLC acquired a new position in STERIS during the 4th quarter worth approximately $260,000. Finally, Blue Trust Inc. grew its holdings in STERIS by 19.9% during the 4th quarter. Blue Trust Inc. now owns 1,128 shares of the medical equipment provider's stock worth $232,000 after acquiring an additional 187 shares in the last quarter. Hedge funds and other institutional investors own 94.69% of the company's stock.

Analysts Set New Price Targets

STE has been the topic of a number of analyst reports. JMP Securities restated a "market outperform" rating and issued a $265.00 price objective on shares of STERIS in a report on Thursday, April 10th. Needham & Company LLC reaffirmed a "hold" rating on shares of STERIS in a report on Monday, April 7th. Piper Sandler upped their price objective on STERIS from $260.00 to $265.00 and gave the stock an "overweight" rating in a research 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 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, the company currently has an average rating of "Moderate Buy" and an average target price of $258.75.

STERIS Stock Performance

NYSE:STE traded up $2.51 during mid-day trading on Friday, reaching $222.53. 451,315 shares of the stock were exchanged, compared to its average volume of 527,766. The stock has a market capitalization of $21.86 billion, a P/E ratio of 47.25 and a beta of 0.87. STERIS plc has a 1 year low of $198.13 and a 1 year high of $248.24. The company has a 50 day simple moving average of $222.48 and a 200-day simple moving average of $218.98. 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 (NYSE:STE - Get Free Report) 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 return on equity of 13.91% and a net margin of 8.66%. Analysts anticipate that STERIS plc will post 9.08 earnings per share for the current fiscal year.

STERIS Announces Dividend

The business also recently announced 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 annualized dividend and a dividend yield of 1.02%. STERIS's dividend payout ratio (DPR) is currently 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.