Van ECK Associates Corp Increases Holdings in STERIS plc (NYSE:STE)

Van ECK Associates Corp boosted its holdings in STERIS plc (NYSE:STE - Free Report) by 130.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 28,816 shares of the medical equipment provider's stock after acquiring an additional 16,300 shares during the period. Van ECK Associates Corp's holdings in STERIS were worth $5,923,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Geode Capital Management LLC raised its position in STERIS by 0.7% in the third quarter. Geode Capital Management LLC now owns 2,303,625 shares of the medical equipment provider's stock valued at $556,786,000 after purchasing an additional 17,007 shares during the period. Principal Financial Group Inc. raised its holdings in STERIS by 9.5% in the 3rd quarter. Principal Financial Group Inc. now owns 1,114,224 shares of the medical equipment provider's stock valued at $270,230,000 after buying an additional 96,336 shares during the period. Franklin Resources Inc. lifted its position in STERIS by 171.2% in 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 last quarter. Charles Schwab Investment Management Inc. boosted its stake in STERIS by 1.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 551,453 shares of the medical equipment provider's stock worth $133,749,000 after buying an additional 6,334 shares during the period. Finally, Assenagon Asset Management S.A. increased its position in shares of STERIS by 7,418.7% during the third quarter. Assenagon Asset Management S.A. now owns 309,771 shares of the medical equipment provider's stock valued at $75,132,000 after acquiring an additional 305,651 shares during the last quarter. 94.69% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on STE. Stephens restated an "overweight" rating and issued a $240.00 price objective on shares of STERIS in a report on Thursday, February 6th. Needham & Company LLC restated a "hold" rating on shares of STERIS in a research note on Friday, November 8th. JMP Securities reaffirmed a "market outperform" rating and issued a $265.00 price objective on shares of STERIS in a research note on Thursday, February 6th. StockNews.com downgraded STERIS from a "strong-buy" rating to a "buy" rating in a report on Tuesday, October 29th. Finally, Piper Sandler raised their target price on STERIS from $260.00 to $265.00 and gave the company an "overweight" rating in a report on Monday, February 3rd. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $258.75.

Insider Buying and Selling at STERIS

In other STERIS news, SVP Cary L. Majors sold 1,682 shares of STERIS stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $217.32, for a total value of $365,532.24. Following the transaction, the senior vice president now directly owns 11,372 shares in the company, valued at approximately $2,471,363.04. This trade represents a 12.88 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.14% of the stock is currently owned by company insiders.

STERIS Stock Down 0.2 %

Shares of NYSE STE traded down $0.36 during mid-day trading on Friday, hitting $220.43. The company had a trading volume of 412,247 shares, compared to its average volume of 474,275. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.13 and a quick ratio of 1.40. STERIS plc has a 1-year low of $197.82 and a 1-year high of $248.24. The company has a market capitalization of $21.66 billion, a PE ratio of 46.80 and a beta of 0.84. The business's 50-day simple moving average is $213.47 and its 200 day simple moving average is $223.64.

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 (EPS) for the quarter, missing the consensus estimate of $2.33 by ($0.01). STERIS had a return on equity of 13.91% and a net margin of 8.66%. On average, analysts predict that STERIS plc will post 9.08 earnings per share for the current year.

STERIS Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, March 21st. Investors of record on Thursday, February 20th will be given a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a dividend yield of 1.03%. The ex-dividend date is Thursday, February 20th. STERIS's dividend payout ratio (DPR) 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.