Bank of Nova Scotia Has $12.23 Million Holdings in STERIS plc (NYSE:STE)

Bank of Nova Scotia lifted its holdings in STERIS plc (NYSE:STE - Free Report) by 382.7% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 59,508 shares of the medical equipment provider's stock after acquiring an additional 47,181 shares during the quarter. Bank of Nova Scotia owned 0.06% of STERIS worth $12,232,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Franklin Resources Inc. increased its position in STERIS by 171.2% in the 3rd quarter. Franklin Resources Inc. now owns 838,569 shares of the medical equipment provider's stock valued at $191,370,000 after acquiring an additional 529,308 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of STERIS by 30.8% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 10,970 shares of the medical equipment provider's stock worth $2,275,000 after acquiring an additional 2,583 shares during the period. Wilmington Savings Fund Society FSB bought a new stake in shares of STERIS during the third quarter worth about $9,949,000. Merit Financial Group LLC acquired a new position in STERIS during the fourth quarter worth $260,000. Finally, Blue Trust Inc. raised its position in STERIS by 19.9% during the fourth quarter. Blue Trust Inc. now owns 1,128 shares of the medical equipment provider's stock valued at $232,000 after purchasing an additional 187 shares in the last quarter. 94.69% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on STE shares. Piper Sandler lifted their target price on shares of STERIS from $260.00 to $265.00 and gave the company an "overweight" rating in a report on Monday, February 3rd. Stephens restated an "overweight" rating and set a $240.00 target price on shares of STERIS in a research report on Thursday, February 6th. JMP Securities reiterated a "market outperform" rating and issued a $265.00 target price on shares of STERIS in a report on Thursday, April 10th. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of STERIS in a research note on Monday, April 7th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $258.75.

STERIS Trading Up 0.7 %

Shares of STERIS stock traded up $1.51 during trading on Wednesday, hitting $222.55. 80,998 shares of the company were exchanged, compared to its average volume of 530,917. The firm has a market capitalization of $21.87 billion, a P/E ratio of 47.25 and a beta of 0.87. 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 firm's fifty day moving average price is $222.59 and its 200 day moving average price is $219.41.

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 (EPS) 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%. As a group, sell-side analysts expect that STERIS plc will post 9.08 earnings per share for the current fiscal year.

STERIS Dividend Announcement

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