Mirae Asset Global Investments Co. Ltd. Increases Position in STERIS plc (NYSE:STE)

Mirae Asset Global Investments Co. Ltd. raised its position in STERIS plc (NYSE:STE - Free Report) by 30.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,970 shares of the medical equipment provider's stock after acquiring an additional 2,583 shares during the period. Mirae Asset Global Investments Co. Ltd.'s holdings in STERIS were worth $2,275,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also made changes to their positions in the company. Franklin Resources Inc. increased its position in STERIS by 171.2% during 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 in the last quarter. Assenagon Asset Management S.A. increased its holdings in shares of STERIS by 7,418.7% during the third quarter. Assenagon Asset Management S.A. now owns 309,771 shares of the medical equipment provider's stock valued at $75,132,000 after acquiring an additional 305,651 shares in the last quarter. Boston Trust Walden Corp increased its holdings in shares of STERIS by 400.4% during 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 in the last quarter. Swedbank AB purchased a new position in shares of STERIS in the 3rd quarter valued at approximately $28,251,000. Finally, Benjamin Edwards Inc. grew its position in STERIS by 2,123.2% during the 3rd quarter. Benjamin Edwards Inc. now owns 113,672 shares of the medical equipment provider's stock worth $27,574,000 after purchasing an additional 108,559 shares during the last quarter. 94.69% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, SVP Cary L. Majors sold 1,682 shares of the firm'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 of the company's stock, valued at approximately $2,471,363.04. This trade represents a 12.88 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 1.14% of the company's stock.

Wall Street Analyst Weigh In

STE has been the subject of several research reports. StockNews.com downgraded shares of STERIS from a "strong-buy" rating to a "buy" rating in a research note on Tuesday, October 29th. Needham & Company LLC reaffirmed a "hold" rating on shares of STERIS in a report on Friday, November 8th. Piper Sandler increased their price target on shares of STERIS from $260.00 to $265.00 and gave the stock an "overweight" rating in a report on Monday, February 3rd. JMP Securities reissued a "market outperform" rating and set a $265.00 price target on shares of STERIS in a research report on Thursday, February 6th. Finally, Stephens reaffirmed an "overweight" rating and issued a $240.00 price objective on shares of STERIS in a 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 company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $258.75.

STERIS Price Performance

Shares of STERIS stock traded up $0.21 during trading hours on Thursday, reaching $219.32. The stock had a trading volume of 443,537 shares, compared to its average volume of 500,105. STERIS plc has a twelve month low of $197.82 and a twelve month high of $248.24. The company has a current ratio of 2.13, a quick ratio of 1.55 and a debt-to-equity ratio of 0.32. The firm has a market capitalization of $21.55 billion, a PE ratio of 46.56 and a beta of 0.84. The stock's 50 day moving average is $212.84 and its 200 day moving average is $224.33.

STERIS (NYSE:STE - Get Free Report) last issued its quarterly earnings data 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 net margin of 8.66% and a return on equity of 13.91%. Equities analysts expect that STERIS plc will post 9.08 earnings per share for the current fiscal year.

STERIS Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Thursday, February 20th will be issued a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a yield of 1.04%. The ex-dividend date of this dividend is Thursday, February 20th. STERIS's payout ratio is 48.41%.

About STERIS

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.