Pictet Asset Management Holding SA Acquires 33,618 Shares of STERIS plc (NYSE:STE)

Pictet Asset Management Holding SA boosted its stake in shares of STERIS plc (NYSE:STE - Free Report) by 3.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,131,374 shares of the medical equipment provider's stock after acquiring an additional 33,618 shares during the period. Pictet Asset Management Holding SA owned 1.15% of STERIS worth $232,565,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in STE. Magnolia Capital Advisors LLC increased its position in shares of STERIS by 1.9% in the fourth quarter. Magnolia Capital Advisors LLC now owns 2,534 shares of the medical equipment provider's stock worth $521,000 after purchasing an additional 48 shares during the period. SkyView Investment Advisors LLC raised its position in shares of STERIS by 1.6% in the 3rd quarter. SkyView Investment Advisors LLC now owns 3,153 shares of the medical equipment provider's stock valued at $765,000 after buying an additional 51 shares in the last quarter. Park Edge Advisors LLC raised its position in shares of STERIS by 1.1% in the 4th quarter. Park Edge Advisors LLC now owns 4,662 shares of the medical equipment provider's stock valued at $958,000 after buying an additional 51 shares in the last quarter. Citizens Financial Group Inc. RI lifted its holdings in shares of STERIS by 5.9% during the 4th quarter. Citizens Financial Group Inc. RI now owns 975 shares of the medical equipment provider's stock worth $201,000 after acquiring an additional 54 shares during the period. Finally, Opal Wealth Advisors LLC boosted its position in shares of STERIS by 5.7% during the 4th quarter. Opal Wealth Advisors LLC now owns 1,118 shares of the medical equipment provider's stock worth $230,000 after acquiring an additional 60 shares in the last quarter. 94.69% of the stock is owned by institutional investors and hedge funds.

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Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on STE shares. Piper Sandler upped their target price on STERIS from $260.00 to $265.00 and gave the stock an "overweight" rating in a research note on Monday, February 3rd. JMP Securities restated a "market outperform" rating and set a $265.00 price objective 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 research note on Thursday, February 6th. One analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, STERIS presently has an average rating of "Moderate Buy" and an average target price of $258.75.

STERIS Price Performance

Shares of STE traded up $0.34 during trading hours on Tuesday, reaching $226.99. The stock had a trading volume of 244,800 shares, compared to its average volume of 528,254. The stock has a market capitalization of $22.30 billion, a PE ratio of 48.19 and a beta of 0.92. STERIS plc has a 12 month low of $197.82 and a 12 month 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 company's 50-day moving average is $222.86 and its two-hundred day moving average is $221.01.

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

STERIS Announces Dividend

The business 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. This represents a $2.28 annualized dividend and a yield of 1.00%. The ex-dividend date of this dividend was Thursday, February 20th. STERIS's payout ratio is presently 48.41%.

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.