Edgestream Partners L.P. Buys New Position in STERIS plc (NYSE:STE)

Edgestream Partners L.P. purchased a new stake in shares of STERIS plc (NYSE:STE - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 11,804 shares of the medical equipment provider's stock, valued at approximately $2,426,000.

A number of other large investors have also recently added to or reduced their stakes in the business. Raymond James Financial Inc. purchased a new stake in STERIS in the fourth quarter valued at $223,987,000. Franklin Resources Inc. raised its holdings in STERIS by 171.2% in the 3rd quarter. Franklin Resources Inc. now owns 838,569 shares of the medical equipment provider's stock valued at $191,370,000 after buying an additional 529,308 shares during the period. Boston Trust Walden Corp raised its holdings in STERIS by 400.4% in the 4th quarter. Boston Trust Walden Corp now owns 224,741 shares of the medical equipment provider's stock valued at $46,198,000 after buying an additional 179,829 shares during the period. Swedbank AB acquired a new position in STERIS in the third quarter valued at about $28,251,000. Finally, Benjamin Edwards Inc. boosted its stake in STERIS by 2,123.2% during the third quarter. Benjamin Edwards Inc. now owns 113,672 shares of the medical equipment provider's stock worth $27,574,000 after buying an additional 108,559 shares during the period. 94.69% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

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STERIS Stock Down 0.9 %

Shares of NYSE:STE traded down $2.07 during trading on Thursday, hitting $222.39. The company's stock had a trading volume of 413,282 shares, compared to its average volume of 528,460. STERIS plc has a fifty-two week low of $197.82 and a fifty-two week high of $248.24. The business has a 50 day moving average price of $218.32 and a two-hundred day moving average price of $222.64. 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 company has a market capitalization of $21.85 billion, a PE ratio of 47.22 and a beta of 0.92.

STERIS (NYSE:STE - Get Free Report) last posted its quarterly earnings results on Wednesday, February 5th. The medical equipment provider reported $2.32 EPS 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%. As a group, research analysts expect 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 will be paid on Friday, March 21st. Shareholders of record on Thursday, February 20th will be paid a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a yield of 1.03%. The ex-dividend date is Thursday, February 20th. STERIS's dividend payout ratio is presently 48.41%.

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.