Corebridge Financial Inc. Reduces Stake in STERIS plc (NYSE:STE)

Corebridge Financial Inc. lessened its stake in shares of STERIS plc (NYSE:STE - Free Report) by 5.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 23,371 shares of the medical equipment provider's stock after selling 1,471 shares during the period. Corebridge Financial Inc.'s holdings in STERIS were worth $4,804,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the stock. Avalon Trust Co purchased a new stake in STERIS during the fourth quarter valued at approximately $30,000. Human Investing LLC bought a new stake in shares of STERIS during the 4th quarter valued at $31,000. Anfield Capital Management LLC increased its stake in shares of STERIS by 100.0% in the 4th quarter. Anfield Capital Management LLC now owns 182 shares of the medical equipment provider's stock worth $37,000 after purchasing an additional 91 shares in the last quarter. Central Pacific Bank Trust Division lifted its position in STERIS by 65.5% during the fourth quarter. Central Pacific Bank Trust Division now owns 192 shares of the medical equipment provider's stock valued at $39,000 after purchasing an additional 76 shares in the last quarter. Finally, Manchester Capital Management LLC grew its holdings in STERIS by 182.7% during the fourth quarter. Manchester Capital Management LLC now owns 212 shares of the medical equipment provider's stock valued at $44,000 after purchasing an additional 137 shares during the period. Hedge funds and other institutional investors own 94.69% of the company's stock.

STERIS Price Performance

Shares of STE traded down $6.32 during midday trading on Thursday, hitting $221.25. 481,456 shares of the company traded hands, compared to its average volume of 529,805. The stock has a market cap of $21.74 billion, a price-to-earnings ratio of 46.97 and a beta of 0.92. The firm has a 50 day moving average of $223.30 and a 200-day moving average of $220.93. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.40 and a current ratio of 2.13. 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 quarterly earnings results on Wednesday, February 5th. The medical equipment provider reported $2.32 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%. On average, analysts forecast that STERIS plc will post 9.08 EPS for the current fiscal year.

STERIS Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Thursday, February 20th were given a $0.57 dividend. This represents a $2.28 annualized dividend and a yield of 1.03%. The ex-dividend date of this dividend was Thursday, February 20th. STERIS's dividend payout ratio is presently 48.41%.

Analysts Set New Price Targets

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