Franklin Resources Inc. Has $191.37 Million Stake in STERIS plc (NYSE:STE)

Franklin Resources Inc. raised its position in shares of STERIS plc (NYSE:STE - Free Report) by 171.2% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 838,569 shares of the medical equipment provider's stock after acquiring an additional 529,308 shares during the quarter. Franklin Resources Inc. owned approximately 0.85% of STERIS worth $191,370,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the company. Massachusetts Financial Services Co. MA grew its position in shares of STERIS by 13.7% in the second quarter. Massachusetts Financial Services Co. MA now owns 6,442,805 shares of the medical equipment provider's stock valued at $1,414,453,000 after purchasing an additional 778,613 shares in the last quarter. Assenagon Asset Management S.A. lifted its holdings in shares of STERIS by 7,418.7% in the 3rd quarter. Assenagon Asset Management S.A. now owns 309,771 shares of the medical equipment provider's stock valued at $75,132,000 after purchasing an additional 305,651 shares during the last quarter. Impax Asset Management Group plc lifted its holdings in shares of STERIS by 29.7% in the 2nd quarter. Impax Asset Management Group plc now owns 1,150,517 shares of the medical equipment provider's stock valued at $251,663,000 after purchasing an additional 263,383 shares during the last quarter. American Century Companies Inc. increased its position in STERIS by 1,946.3% in the 2nd quarter. American Century Companies Inc. now owns 270,311 shares of the medical equipment provider's stock valued at $59,344,000 after acquiring an additional 257,101 shares during the period. Finally, Swedbank AB acquired a new position in STERIS in the 3rd quarter valued at about $28,251,000. Institutional investors and hedge funds own 94.69% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on STE shares. KeyCorp upped their price target on STERIS from $255.00 to $265.00 and gave the stock an "overweight" rating in a report on Tuesday, September 3rd. StockNews.com downgraded STERIS from a "strong-buy" rating to a "buy" rating in a report on Tuesday, October 29th. Needham & Company LLC reaffirmed a "hold" rating on shares of STERIS in a research report on Friday, November 8th. Stephens reaffirmed an "overweight" rating and set a $260.00 price target on shares of STERIS in a report on Thursday, November 7th. Finally, Piper Sandler upgraded shares of STERIS from a "neutral" rating to an "overweight" rating and raised their price objective for the company from $230.00 to $260.00 in a research note on Thursday, October 24th. One analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $262.50.

Insider Activity at STERIS

In other STERIS news, SVP Cary L. Majors sold 1,682 shares of the business's stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $217.32, for a total value of $365,532.24. Following the transaction, the senior vice president now directly owns 11,372 shares in the company, valued at $2,471,363.04. The trade was a 12.88 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.14% of the stock is currently owned by insiders.

STERIS Stock Down 1.0 %

Shares of NYSE:STE traded down $2.19 during trading on Friday, reaching $214.22. 526,457 shares of the company traded hands, compared to its average volume of 564,714. The company has a quick ratio of 1.55, a current ratio of 2.41 and a debt-to-equity ratio of 0.33. STERIS plc has a 1-year low of $197.82 and a 1-year high of $248.24. The firm has a fifty day simple moving average of $220.80 and a 200 day simple moving average of $227.30. The firm has a market cap of $21.15 billion, a P/E ratio of 48.91 and a beta of 0.83.

STERIS (NYSE:STE - Get Free Report) last announced its earnings results on Wednesday, November 6th. The medical equipment provider reported $2.14 EPS for the quarter, topping the consensus estimate of $2.12 by $0.02. STERIS had a net margin of 8.02% and a return on equity of 13.78%. The firm had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.33 billion. During the same quarter last year, the firm posted $2.03 EPS. The business's quarterly revenue was up 7.3% on a year-over-year basis. Analysts anticipate that STERIS plc will post 9.1 earnings per share for the current fiscal year.

STERIS Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Tuesday, November 19th will be paid a $0.57 dividend. The ex-dividend date is Tuesday, November 19th. This represents a $2.28 dividend on an annualized basis and a yield of 1.06%. STERIS's payout ratio is currently 52.05%.

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.