Wellington Management Group LLP Raises Position in STERIS plc (NYSE:STE)

Wellington Management Group LLP lifted its holdings in shares of STERIS plc (NYSE:STE - Free Report) by 4,534.6% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 219,032 shares of the medical equipment provider's stock after buying an additional 214,306 shares during the period. Wellington Management Group LLP owned about 0.22% of STERIS worth $45,024,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the business. CIBC Private Wealth Group LLC raised its holdings in shares of STERIS by 18.7% during the 4th quarter. CIBC Private Wealth Group LLC now owns 3,851 shares of the medical equipment provider's stock worth $807,000 after buying an additional 606 shares in the last quarter. RWA Wealth Partners LLC bought a new stake in STERIS during the 4th quarter worth $561,000. Schroder Investment Management Group grew its position in STERIS by 2.7% during the 4th quarter. Schroder Investment Management Group now owns 8,384 shares of the medical equipment provider's stock worth $1,719,000 after acquiring an additional 223 shares during the last quarter. Allstate Corp bought a new stake in STERIS during the 4th quarter worth $612,000. Finally, Brown Brothers Harriman & Co. grew its position in shares of STERIS by 66.7% in the 4th quarter. Brown Brothers Harriman & Co. now owns 220 shares of the medical equipment provider's stock valued at $45,000 after buying an additional 88 shares during the last quarter. Institutional investors and hedge funds own 94.69% of the company's stock.

Analysts Set New Price Targets

A number of research firms have commented on STE. Piper Sandler upped their price target on STERIS from $260.00 to $265.00 and gave the company an "overweight" rating in a research report on Monday, February 3rd. JMP Securities reiterated a "market outperform" rating and issued a $265.00 price target on shares of STERIS in a research report on Thursday. Needham & Company LLC reiterated a "hold" rating on shares of STERIS in a research report on Monday. Finally, Stephens reiterated an "overweight" rating and issued a $240.00 price target on shares of STERIS in a research report on Thursday, February 6th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $258.75.

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STERIS Stock Down 3.1 %

STE stock traded down $6.97 during trading on Thursday, reaching $215.98. 156,849 shares of the stock were exchanged, compared to its average volume of 535,294. The firm's 50 day moving average is $222.60 and its 200 day moving average is $219.88. 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 1.40 and a debt-to-equity ratio of 0.32. The firm has a market cap of $21.22 billion, a P/E ratio of 45.99 and a beta of 0.87.

STERIS (NYSE:STE - Get Free Report) last posted its quarterly 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%. As a group, research 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. Stockholders of record on Thursday, February 20th were paid a $0.57 dividend. This represents a $2.28 annualized dividend and a dividend yield of 1.06%. The ex-dividend date was Thursday, February 20th. STERIS's dividend payout ratio (DPR) is presently 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.