Geode Capital Management LLC Increases Stock Holdings in STERIS plc (NYSE:STE)

Geode Capital Management LLC grew its stake in STERIS plc (NYSE:STE - Free Report) by 2.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,359,748 shares of the medical equipment provider's stock after purchasing an additional 56,123 shares during the period. Geode Capital Management LLC owned approximately 2.39% of STERIS worth $483,775,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Avalon Trust Co acquired a new position in STERIS in the 4th quarter valued at $30,000. Human Investing LLC purchased a new stake in shares of STERIS in the fourth quarter valued at about $31,000. Anfield Capital Management LLC increased its stake in shares of STERIS by 100.0% during the fourth quarter. Anfield Capital Management LLC now owns 182 shares of the medical equipment provider's stock worth $37,000 after acquiring an additional 91 shares during the period. Central Pacific Bank Trust Division raised its holdings 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 worth $39,000 after purchasing an additional 76 shares in the last quarter. Finally, Manchester Capital Management LLC lifted its position in STERIS by 182.7% in 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.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on STE. JMP Securities reissued 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 upped their price objective on STERIS from $260.00 to $265.00 and gave the stock an "overweight" rating in a report on Monday, February 3rd. Stephens reissued an "overweight" rating and issued a $240.00 target price on shares of STERIS in a report on Thursday, February 6th. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of STERIS in a research note on Monday. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $258.75.

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STERIS Price Performance

STE stock traded up $14.29 during midday trading on Wednesday, hitting $222.84. 1,012,229 shares of the stock were exchanged, compared to its average volume of 536,773. The stock's 50-day moving average price is $222.60 and its 200-day moving average price is $219.88. 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 stock has a market cap of $21.89 billion, a price-to-earnings ratio of 47.31 and a beta of 0.87. STERIS plc has a fifty-two week low of $197.82 and a fifty-two week high of $248.24.

STERIS (NYSE:STE - Get Free Report) last announced its quarterly earnings results on Wednesday, February 5th. The medical equipment provider reported $2.32 earnings per share 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%. Research analysts predict that STERIS plc will post 9.08 earnings per share for the current year.

STERIS Announces Dividend

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