Canada Pension Plan Investment Board Grows Position in STERIS plc (NYSE:STE)

Canada Pension Plan Investment Board raised its holdings in STERIS plc (NYSE:STE - Free Report) by 219.9% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 6,888 shares of the medical equipment provider's stock after buying an additional 4,735 shares during the quarter. Canada Pension Plan Investment Board's holdings in STERIS were worth $1,416,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of STE. Norges Bank bought a new position in STERIS during the fourth quarter worth $238,836,000. Raymond James Financial Inc. acquired a new stake in shares of STERIS in the 4th quarter valued at about $223,987,000. Franklin Resources Inc. raised its stake in STERIS by 171.2% during the 3rd quarter. Franklin Resources Inc. now owns 838,569 shares of the medical equipment provider's stock worth $191,370,000 after buying an additional 529,308 shares during the period. Wellington Management Group LLP boosted its holdings in STERIS by 4,534.6% in the fourth quarter. Wellington Management Group LLP now owns 219,032 shares of the medical equipment provider's stock worth $45,024,000 after acquiring an additional 214,306 shares in the last quarter. Finally, Boston Trust Walden Corp grew its stake in STERIS by 400.4% in the fourth quarter. Boston Trust Walden Corp now owns 224,741 shares of the medical equipment provider's stock valued at $46,198,000 after acquiring an additional 179,829 shares during the period. 94.69% of the stock is currently owned by institutional investors.

STERIS Price Performance

NYSE STE traded down $0.78 during trading hours on Tuesday, hitting $224.48. The company had a trading volume of 105,716 shares, compared to its average volume of 524,786. The firm has a 50 day simple moving average of $222.97 and a 200 day simple moving average of $218.84. STERIS plc has a 52 week low of $200.98 and a 52 week high of $248.24. The firm has a market capitalization of $22.06 billion, a price-to-earnings ratio of 47.65 and a beta of 0.87. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.40 and a current ratio of 2.13.

STERIS (NYSE:STE - Get Free Report) last posted its 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%. Equities research analysts expect that STERIS plc will post 9.08 earnings per share for the current year.

Analyst Upgrades and Downgrades

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

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.