CANADA LIFE ASSURANCE Co Trims Position in STERIS plc (NYSE:STE)

CANADA LIFE ASSURANCE Co lessened its holdings in shares of STERIS plc (NYSE:STE - Free Report) by 3.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 489,006 shares of the medical equipment provider's stock after selling 18,080 shares during the quarter. CANADA LIFE ASSURANCE Co owned approximately 0.50% of STERIS worth $100,365,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Geode Capital Management LLC increased its position in shares of 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 in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in shares of STERIS by 15.9% in the fourth 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 last quarter. Franklin Resources Inc. lifted its holdings in shares of 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 purchasing an additional 378,252 shares in the last quarter. Norges Bank bought a new stake in STERIS in the 4th quarter worth about $238,836,000. Finally, Bessemer Group Inc. boosted its holdings in shares of STERIS by 0.5% during the 4th quarter. Bessemer Group Inc. now owns 1,141,125 shares of the medical equipment provider's stock valued at $234,569,000 after acquiring an additional 5,434 shares during the last quarter. Institutional investors own 94.69% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Stephens restated an "overweight" rating and set a $240.00 price objective on shares of STERIS in a research report on Thursday, February 6th. Needham & Company LLC reaffirmed a "hold" rating on shares of STERIS in a report on Monday, April 7th. JMP Securities reissued a "market outperform" rating and issued a $265.00 target price on shares of STERIS in a report on Thursday, April 10th. Finally, Piper Sandler boosted their price target on STERIS from $260.00 to $265.00 and gave the company an "overweight" rating in a research note on Monday, February 3rd. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $258.75.

STERIS Price Performance

Shares of STE stock traded up $3.83 during mid-day trading on Tuesday, hitting $222.61. The company had a trading volume of 60,510 shares, compared to its average volume of 525,056. The company has a market capitalization of $21.87 billion, a P/E ratio of 47.26 and a beta of 0.87. The stock's 50 day moving average price is $222.48 and its 200-day moving average price is $218.90. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.13 and a quick ratio of 1.40. STERIS plc has a 52-week low of $198.13 and a 52-week high of $248.24.

STERIS (NYSE:STE - Get Free Report) 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%. Equities research analysts forecast that STERIS plc will post 9.08 earnings per share for the current year.

STERIS Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Thursday, February 20th were given a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a dividend yield of 1.02%. The ex-dividend date of this dividend was Thursday, February 20th. STERIS's dividend payout ratio is currently 48.41%.

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.