Allstate Corp Purchases Shares of 2,975 STERIS plc (NYSE:STE)

Allstate Corp acquired a new stake in shares of STERIS plc (NYSE:STE - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 2,975 shares of the medical equipment provider's stock, valued at approximately $612,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Brown Brothers Harriman & Co. grew its stake in STERIS by 66.7% in the 4th quarter. Brown Brothers Harriman & Co. now owns 220 shares of the medical equipment provider's stock valued at $45,000 after purchasing an additional 88 shares during the period. DnB Asset Management AS raised its stake in STERIS by 6.9% in the 4th quarter. DnB Asset Management AS now owns 17,216 shares of the medical equipment provider's stock valued at $3,539,000 after acquiring an additional 1,114 shares during the period. Pictet Asset Management Holding SA raised its position in shares of STERIS by 3.1% in the fourth quarter. Pictet Asset Management Holding SA now owns 1,131,374 shares of the medical equipment provider's stock valued at $232,565,000 after purchasing an additional 33,618 shares during the period. Nomura Asset Management Co. Ltd. lifted its stake in shares of STERIS by 0.3% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 28,961 shares of the medical equipment provider's stock valued at $5,953,000 after buying an additional 94 shares in the last quarter. Finally, Norges Bank bought a new position in STERIS in the 4th quarter worth approximately $238,836,000. 94.69% of the stock is owned by institutional investors.

STERIS Price Performance

STERIS stock traded down $8.25 during midday trading on Friday, hitting $213.16. 1,201,030 shares of the company's stock were exchanged, compared to its average volume of 533,170. The company has a market cap of $20.94 billion, a P/E ratio of 45.26 and a beta of 0.87. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.40 and a current ratio of 2.13. The stock has a 50-day moving average price of $223.23 and a two-hundred day moving average price of $220.44. STERIS plc has a 52-week low of $197.82 and a 52-week high of $248.24.

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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 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, equities research analysts forecast that STERIS plc will post 9.08 earnings per share for the current year.

STERIS Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Thursday, February 20th were paid a $0.57 dividend. The ex-dividend date was Thursday, February 20th. This represents a $2.28 dividend on an annualized basis and a yield of 1.07%. STERIS's dividend payout ratio is presently 48.41%.

Wall Street Analyst Weigh In

STE has been the topic of several recent research reports. Piper Sandler increased their target price on STERIS from $260.00 to $265.00 and gave the stock an "overweight" rating in a research report on Monday, February 3rd. JMP Securities reissued a "market outperform" rating and set a $265.00 price objective on shares of STERIS in a report on Thursday, February 6th. Finally, Stephens reaffirmed an "overweight" rating and set a $240.00 target price on shares of STERIS in a report on Thursday, February 6th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat, STERIS presently has an average rating of "Moderate Buy" and an average price target of $258.75.

STERIS 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.