1,161,880 Shares in STERIS plc (NYSE:STE) Acquired by Norges Bank

Norges Bank purchased a new stake in STERIS plc (NYSE:STE - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 1,161,880 shares of the medical equipment provider's stock, valued at approximately $238,836,000. Norges Bank owned approximately 1.18% of STERIS at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Franklin Resources Inc. boosted 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 purchasing an additional 529,308 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in STERIS by 30.8% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 10,970 shares of the medical equipment provider's stock valued at $2,275,000 after acquiring an additional 2,583 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new position in STERIS in the third quarter worth approximately $9,949,000. Public Sector Pension Investment Board increased its stake in STERIS by 13.2% during the third quarter. Public Sector Pension Investment Board now owns 4,283 shares of the medical equipment provider's stock worth $1,039,000 after acquiring an additional 500 shares during the last quarter. Finally, Merit Financial Group LLC acquired a new stake in STERIS during the fourth quarter worth $260,000. Institutional investors and hedge funds own 94.69% of the company's stock.

Wall Street Analyst Weigh In

STE has been the topic of several recent analyst reports. Stephens reaffirmed an "overweight" rating and issued a $240.00 price target on shares of STERIS in a research note on Thursday, February 6th. JMP Securities reaffirmed a "market outperform" rating and issued a $265.00 target price on shares of STERIS in a research report on Thursday, February 6th. Finally, Piper Sandler increased their target price on shares of STERIS from $260.00 to $265.00 and gave the stock an "overweight" rating in a research note on Monday, February 3rd. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, STERIS presently has a consensus rating of "Moderate Buy" and a consensus target price of $258.75.

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STERIS Trading Down 3.7 %

Shares of STE traded down $8.25 during midday trading on Friday, hitting $213.16. 1,201,030 shares of the stock were exchanged, compared to its average volume of 532,777. STERIS plc has a 52-week low of $197.82 and a 52-week high of $248.24. 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 fifty day simple moving average of $223.23 and a 200 day simple moving average of $220.72. The firm has a market cap of $20.94 billion, a P/E ratio of 45.26 and a beta of 0.92.

STERIS (NYSE:STE - Get Free Report) last posted its earnings results on Wednesday, February 5th. The medical equipment provider reported $2.32 earnings per share (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%. On average, research analysts anticipate that STERIS plc will post 9.08 EPS for the current fiscal year.

STERIS Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Thursday, February 20th were issued a dividend of $0.57 per share. The ex-dividend date was Thursday, February 20th. This represents a $2.28 dividend on an annualized basis and a yield of 1.07%. STERIS's dividend payout ratio (DPR) 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.