Bank of Montreal Can Sells 2,297 Shares of STERIS plc (NYSE:STE)

Bank of Montreal Can lessened its stake in STERIS plc (NYSE:STE - Free Report) by 2.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 91,861 shares of the medical equipment provider's stock after selling 2,297 shares during the quarter. Bank of Montreal Can owned approximately 0.09% of STERIS worth $18,883,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of STERIS during the 4th quarter worth about $238,836,000. Raymond James Financial Inc. acquired a new position in shares of STERIS during the 4th quarter worth approximately $223,987,000. Franklin Resources Inc. increased its holdings in shares of STERIS by 171.2% during the third quarter. Franklin Resources Inc. now owns 838,569 shares of the medical equipment provider's stock worth $191,370,000 after purchasing an additional 529,308 shares during the period. Wellington Management Group LLP raised its position in shares of STERIS by 4,534.6% in the fourth quarter. Wellington Management Group LLP now owns 219,032 shares of the medical equipment provider's stock valued at $45,024,000 after buying an additional 214,306 shares in the last quarter. Finally, Boston Trust Walden Corp grew its position in STERIS by 400.4% during the fourth quarter. Boston Trust Walden Corp now owns 224,741 shares of the medical equipment provider's stock worth $46,198,000 after buying an additional 179,829 shares in the last quarter. 94.69% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have weighed in on STE. Needham & Company LLC reaffirmed a "hold" rating on shares of STERIS in a report on Monday, April 7th. JMP Securities reaffirmed a "market outperform" rating and set a $265.00 price objective on shares of STERIS in a research report on Thursday, April 10th. Stephens reissued an "overweight" rating and issued a $240.00 target price on shares of STERIS in a report on Thursday, February 6th. Finally, Piper Sandler upped their price target on shares of STERIS from $260.00 to $265.00 and gave the stock an "overweight" rating in a report on Monday, February 3rd. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $258.75.

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STERIS Price Performance

Shares of NYSE STE traded down $2.85 during midday trading on Tuesday, reaching $221.17. 342,204 shares of the company were exchanged, compared to its average volume of 533,910. The stock's 50-day moving average price is $222.67 and its 200-day moving average price is $219.40. The stock has a market cap of $21.73 billion, a P/E ratio of 46.96 and a beta of 0.87. 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 plc has a one year low of $197.82 and a one year high of $248.24.

STERIS (NYSE:STE - Get Free Report) last issued its quarterly earnings data 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 return on equity of 13.91% and a net margin of 8.66%. On average, sell-side analysts anticipate that STERIS plc will post 9.08 earnings per share for the current fiscal year.

STERIS Dividend Announcement

The firm also recently announced 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 annualized dividend and a yield of 1.03%. STERIS's dividend payout ratio is presently 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.