NEOS Investment Management LLC Increases Position in STERIS plc (NYSE:STE)

NEOS Investment Management LLC grew its position in shares of STERIS plc (NYSE:STE - Free Report) by 30.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,374 shares of the medical equipment provider's stock after acquiring an additional 1,243 shares during the period. NEOS Investment Management LLC's holdings in STERIS were worth $1,105,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of STE. Franklin Resources Inc. increased its stake in shares of STERIS by 171.2% during the third quarter. Franklin Resources Inc. now owns 838,569 shares of the medical equipment provider's stock valued at $191,370,000 after buying an additional 529,308 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its holdings in STERIS by 30.8% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 10,970 shares of the medical equipment provider's stock worth $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 3rd quarter worth about $9,949,000. Public Sector Pension Investment Board increased its position in shares of 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 bought a new position in STERIS in the fourth quarter worth about $260,000. Hedge funds and other institutional investors own 94.69% of the company's stock.

STERIS Stock Performance

Shares of NYSE STE traded down $4.82 during trading on Thursday, reaching $222.75. 102,682 shares of the company traded hands, compared to its average volume of 528,030. The stock has a market capitalization of $21.89 billion, a PE ratio of 47.29 and a beta of 0.92. The firm has a 50 day simple moving average of $223.22 and a 200-day simple moving average of $220.93. STERIS plc has a 52-week low of $197.82 and a 52-week high of $248.24. The company has a quick ratio of 1.40, a current ratio of 2.13 and a debt-to-equity ratio of 0.32.

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STERIS (NYSE:STE - Get Free Report) last released its quarterly earnings results on Wednesday, February 5th. The medical equipment provider reported $2.32 earnings per share for the quarter, missing the consensus estimate of $2.33 by ($0.01). STERIS had a net margin of 8.66% and a return on equity of 13.91%. Equities research analysts anticipate that STERIS plc will post 9.08 earnings per share for the current year.

STERIS Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Thursday, February 20th were paid a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a dividend yield of 1.02%. The ex-dividend date of this dividend was Thursday, February 20th. STERIS's dividend payout ratio is presently 48.41%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Piper Sandler upped their price target 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 reiterated a "market outperform" rating and issued a $265.00 price target on shares of STERIS in a research note on Thursday, February 6th. Finally, Stephens restated an "overweight" rating and issued a $240.00 price objective 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 assigned a buy rating to the company. Based on data from MarketBeat.com, STERIS presently has an average rating of "Moderate Buy" and an average target price of $258.75.

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.