Franklin Resources Inc. Increases Stock Position in STERIS plc (NYSE:STE)

Franklin Resources Inc. boosted its stake in STERIS plc (NYSE:STE - Free Report) by 45.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,216,821 shares of the medical equipment provider's stock after buying an additional 378,252 shares during the quarter. Franklin Resources Inc. owned approximately 1.23% of STERIS worth $250,130,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the stock. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of 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 in the last quarter. Wilmington Savings Fund Society FSB purchased a new position in STERIS in the third quarter worth $9,949,000. Public Sector Pension Investment Board grew its stake in STERIS by 13.2% in the 3rd 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 during the period. Merit Financial Group LLC purchased a new stake in shares of STERIS during the 4th quarter valued at $260,000. Finally, Blue Trust Inc. raised its stake in shares of STERIS by 19.9% during the 4th quarter. Blue Trust Inc. now owns 1,128 shares of the medical equipment provider's stock worth $232,000 after purchasing an additional 187 shares during the period. 94.69% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms recently weighed in on STE. Stephens restated an "overweight" rating and set a $240.00 price target on shares of STERIS in a research report on Thursday, February 6th. Piper Sandler raised their price target 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. Finally, JMP Securities reaffirmed a "market outperform" rating and issued a $265.00 price target on shares of STERIS in a report on Thursday, February 6th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $258.75.

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STERIS Stock Performance

Shares of STE traded down $8.25 during trading hours on Friday, hitting $213.16. The company's stock had a trading volume of 1,201,030 shares, compared to its average volume of 533,170. The business has a 50 day simple moving average of $223.23 and a two-hundred day simple moving average of $220.57. 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 current ratio of 2.13 and a quick ratio of 1.40. The company has a market cap of $20.94 billion, a price-to-earnings ratio of 45.26 and a beta of 0.87.

STERIS (NYSE:STE - Get Free Report) last released its quarterly earnings data 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 net margin of 8.66% and a return on equity of 13.91%. On average, equities analysts expect that STERIS plc will post 9.08 earnings per share for the current fiscal year.

STERIS Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Thursday, February 20th were issued a dividend of $0.57 per share. The ex-dividend date of this dividend 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 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.