Allred Capital Management LLC Makes New $562,000 Investment in STERIS plc (NYSE:STE)

Allred Capital Management LLC acquired a new position in STERIS plc (NYSE:STE - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 2,732 shares of the medical equipment provider's stock, valued at approximately $562,000.

A number of other hedge funds have also recently modified their holdings of the business. Geode Capital Management LLC raised its holdings in STERIS by 2.4% during the fourth quarter. Geode Capital Management LLC now owns 2,359,748 shares of the medical equipment provider's stock valued at $483,775,000 after acquiring an additional 56,123 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in STERIS by 15.9% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,261,927 shares of the medical equipment provider's stock worth $257,585,000 after purchasing an additional 172,795 shares during the period. Franklin Resources Inc. grew its holdings in STERIS by 45.1% during the 4th 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. Norges Bank bought a new stake in shares of STERIS during the fourth quarter valued at approximately $238,836,000. Finally, Bessemer Group Inc. lifted its holdings in shares of STERIS by 0.5% in the fourth quarter. Bessemer Group Inc. now owns 1,141,125 shares of the medical equipment provider's stock worth $234,569,000 after buying an additional 5,434 shares in the last quarter. Institutional investors own 94.69% of the company's stock.

STERIS Trading Up 1.0 %

NYSE:STE traded up $2.17 during mid-day trading on Wednesday, hitting $224.94. 112,506 shares of the stock traded hands, compared to its average volume of 524,971. The firm's 50 day moving average is $222.55 and its two-hundred day moving average is $218.93. STERIS plc has a 52 week low of $200.41 and a 52 week high of $248.24. The company has a quick ratio of 1.40, a current ratio of 2.13 and a debt-to-equity ratio of 0.32. The stock has a market capitalization of $22.10 billion, a price-to-earnings ratio of 47.76 and a beta of 0.87.

STERIS (NYSE:STE - Get Free Report) last posted its quarterly earnings results on Wednesday, February 5th. The medical equipment provider reported $2.32 earnings per share 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%. On average, equities research analysts predict that STERIS plc will post 9.08 earnings per share for the current year.

STERIS Announces Dividend

The firm 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 annualized dividend and a yield of 1.01%. The ex-dividend date of this dividend was Thursday, February 20th. STERIS's payout ratio is 48.41%.

Analyst Upgrades and Downgrades

STE has been the topic of a number of research reports. Piper Sandler lifted their price target on shares of STERIS from $260.00 to $265.00 and gave the company an "overweight" rating in a report on Monday, February 3rd. Stephens reaffirmed an "overweight" rating and issued a $240.00 target price on shares of STERIS in a report on Thursday, February 6th. Needham & Company LLC reissued a "hold" rating on shares of STERIS in a research note on Monday, April 7th. Finally, JMP Securities reaffirmed a "market outperform" rating and set a $265.00 price objective on shares of STERIS in a report on Thursday, April 10th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, STERIS presently has a consensus rating of "Moderate Buy" and a consensus 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.