Mitsubishi UFJ Asset Management Co. Ltd. Boosts Stock Position in STERIS plc (NYSE:STE)

Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in shares of STERIS plc (NYSE:STE - Free Report) by 15.9% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,261,927 shares of the medical equipment provider's stock after buying an additional 172,795 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned about 1.28% of STERIS worth $257,585,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of STE. Franklin Resources Inc. increased its holdings in STERIS by 171.2% during the 3rd quarter. Franklin Resources Inc. now owns 838,569 shares of the medical equipment provider's stock worth $191,370,000 after acquiring an additional 529,308 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its position in shares of STERIS by 30.8% during the 4th 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 purchasing an additional 2,583 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in shares of STERIS in the third quarter worth $9,949,000. Public Sector Pension Investment Board boosted 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 valued at $1,039,000 after buying an additional 500 shares during the period. Finally, Merit Financial Group LLC purchased a new position in shares of STERIS during the fourth quarter worth about $260,000. 94.69% of the stock is currently owned by institutional investors.

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STERIS Trading Up 0.8 %

Shares of STE stock traded up $1.81 on Monday, hitting $224.81. 88,543 shares of the company's stock traded hands, compared to its average volume of 525,887. The stock has a market capitalization of $22.09 billion, a price-to-earnings ratio of 47.85 and a beta of 0.92. The company's fifty day simple moving average is $222.51 and its 200 day simple moving average is $221.15. STERIS plc has a one year low of $197.82 and a one year 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 announced its quarterly earnings data on Wednesday, February 5th. The medical equipment provider reported $2.32 earnings per share (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%. Equities analysts forecast that STERIS plc will post 9.08 EPS for the current year.

STERIS Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Thursday, February 20th were given a $0.57 dividend. The ex-dividend date was Thursday, February 20th. This represents a $2.28 annualized dividend and a yield of 1.01%. STERIS's payout ratio is currently 48.41%.

Wall Street Analyst Weigh In

STE has been the topic of a number of research analyst reports. 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 issued a $265.00 target price on shares of STERIS in a research note on Thursday, February 6th. Finally, Stephens reaffirmed an "overweight" rating and set a $240.00 price target on shares of STERIS in a research note on Thursday, February 6th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $258.75.

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.