Clearbridge Investments LLC Sells 1,385 Shares of STERIS plc (NYSE:STE)

Clearbridge Investments LLC reduced its stake in shares of STERIS plc (NYSE:STE - Free Report) by 0.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 151,433 shares of the medical equipment provider's stock after selling 1,385 shares during the quarter. Clearbridge Investments LLC owned about 0.15% of STERIS worth $31,128,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in STE. Norges Bank bought a new position in shares of STERIS during the 4th quarter valued at approximately $238,836,000. Raymond James Financial Inc. bought a new position in STERIS during the fourth quarter valued at $223,987,000. Franklin Resources Inc. increased its position in STERIS by 171.2% during the third quarter. Franklin Resources Inc. now owns 838,569 shares of the medical equipment provider's stock valued at $191,370,000 after acquiring an additional 529,308 shares during the last quarter. Boston Trust Walden Corp raised its stake in shares of STERIS by 400.4% in the fourth quarter. Boston Trust Walden Corp now owns 224,741 shares of the medical equipment provider's stock valued at $46,198,000 after acquiring an additional 179,829 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in shares of 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 acquiring an additional 172,795 shares during the last quarter. 94.69% of the stock is currently owned by hedge funds and other institutional investors.

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STERIS Trading Down 3.7 %

Shares of STERIS stock traded down $8.25 on Friday, hitting $213.16. 1,201,030 shares of the company traded hands, compared to its average volume of 533,170. The company has a current ratio of 2.13, a quick ratio of 1.40 and a debt-to-equity ratio of 0.32. The company has a market cap of $20.94 billion, a PE ratio of 45.26 and a beta of 0.87. The stock's 50 day moving average price is $223.23 and its 200-day moving average price is $220.44. STERIS plc has a 52 week low of $197.82 and a 52 week high of $248.24.

STERIS (NYSE:STE - Get Free Report) last issued its 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 return on equity of 13.91% and a net margin of 8.66%. Equities research analysts predict that STERIS plc will post 9.08 EPS for the current year.

STERIS Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Thursday, February 20th were issued 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 1.07%. STERIS's dividend payout ratio is currently 48.41%.

Analyst Ratings Changes

A number of research firms recently weighed in on STE. Stephens reissued an "overweight" rating and issued a $240.00 price objective on shares of STERIS in a research report on Thursday, February 6th. JMP Securities reissued a "market outperform" rating and set a $265.00 price target on shares of STERIS in a research note on Thursday, February 6th. Finally, Piper Sandler upped their price objective on STERIS from $260.00 to $265.00 and gave the company an "overweight" rating in a research report on Monday, February 3rd. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, STERIS has a consensus rating of "Moderate Buy" and a consensus target price 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.