Prudential Financial Inc. Has $10.81 Million Holdings in STERIS plc (NYSE:STE)

Prudential Financial Inc. raised its holdings in shares of STERIS plc (NYSE:STE - Free Report) by 233.2% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 52,592 shares of the medical equipment provider's stock after acquiring an additional 36,808 shares during the quarter. Prudential Financial Inc. owned approximately 0.05% of STERIS worth $10,811,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Principal Financial Group Inc. lifted its position in STERIS by 9.5% during the 3rd quarter. Principal Financial Group Inc. now owns 1,114,224 shares of the medical equipment provider's stock worth $270,230,000 after buying an additional 96,336 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in STERIS by 2.5% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 43,253 shares of the medical equipment provider's stock valued at $10,491,000 after purchasing an additional 1,053 shares during the last quarter. Public Sector Pension Investment Board grew its stake in STERIS by 13.2% in the third quarter. Public Sector Pension Investment Board now owns 4,283 shares of the medical equipment provider's stock valued at $1,039,000 after purchasing an additional 500 shares in the last quarter. Eventide Asset Management LLC increased its position in shares of STERIS by 8.6% during the 3rd quarter. Eventide Asset Management LLC now owns 143,459 shares of the medical equipment provider's stock worth $34,795,000 after purchasing an additional 11,362 shares during the last quarter. Finally, Aureus Asset Management LLC raised its stake in shares of STERIS by 0.4% during the 3rd quarter. Aureus Asset Management LLC now owns 30,516 shares of the medical equipment provider's stock worth $7,401,000 after purchasing an additional 116 shares in the last quarter. 94.69% of the stock is currently owned by institutional investors and hedge funds.

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Analyst Upgrades and Downgrades

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

STERIS Stock Performance

Shares of NYSE STE traded up $0.72 during trading hours on Wednesday, reaching $226.44. 142,434 shares of the stock were exchanged, compared to its average volume of 530,669. The stock's fifty day simple moving average is $223.03 and its 200 day simple moving average is $220.88. The firm has a market capitalization of $22.25 billion, a price-to-earnings ratio of 48.10 and a beta of 0.92. 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.

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 for the quarter, missing analysts' consensus estimates of $2.33 by ($0.01). STERIS had a return on equity of 13.91% and a net margin of 8.66%. Sell-side analysts predict that STERIS plc will post 9.08 EPS for the current year.

STERIS Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Thursday, February 20th were given a dividend of $0.57 per share. The ex-dividend date was Thursday, February 20th. This represents a $2.28 annualized dividend and a dividend yield of 1.01%. STERIS's dividend payout ratio is 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.