ProShare Advisors LLC Purchases 3,685 Shares of STERIS plc (NYSE:STE)

ProShare Advisors LLC boosted its holdings in STERIS plc (NYSE:STE - Free Report) by 19.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 22,318 shares of the medical equipment provider's stock after purchasing an additional 3,685 shares during the period. ProShare Advisors LLC's holdings in STERIS were worth $4,588,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Magnolia Capital Advisors LLC boosted its holdings in shares of STERIS by 1.9% during the fourth quarter. Magnolia Capital Advisors LLC now owns 2,534 shares of the medical equipment provider's stock worth $521,000 after purchasing an additional 48 shares during the period. Park Edge Advisors LLC grew its stake in shares of STERIS by 1.1% in the fourth quarter. Park Edge Advisors LLC now owns 4,662 shares of the medical equipment provider's stock worth $958,000 after acquiring an additional 51 shares during the last quarter. Citizens Financial Group Inc. RI grew its position in STERIS by 5.9% during the 4th quarter. Citizens Financial Group Inc. RI now owns 975 shares of the medical equipment provider's stock valued at $201,000 after purchasing an additional 54 shares during the last quarter. Opal Wealth Advisors LLC increased its position in shares of STERIS by 5.7% during the fourth quarter. Opal Wealth Advisors LLC now owns 1,118 shares of the medical equipment provider's stock valued at $230,000 after acquiring an additional 60 shares in the last quarter. Finally, Sage Private Wealth Group LLC increased its holdings in shares of STERIS by 4.1% in the 4th quarter. Sage Private Wealth Group LLC now owns 1,537 shares of the medical equipment provider's stock worth $316,000 after purchasing an additional 61 shares in the last quarter. 94.69% of the stock is currently owned by hedge funds and other institutional investors.

STERIS Stock Up 0.3%

Shares of STE opened at $252.31 on Tuesday. STERIS plc has a 52-week low of $200.98 and a 52-week high of $252.79. The company has a market cap of $24.79 billion, a PE ratio of 53.57 and a beta of 0.96. The company has a quick ratio of 1.40, a current ratio of 2.13 and a debt-to-equity ratio of 0.32. The business has a fifty day moving average of $224.69 and a 200 day moving average of $219.48.

STERIS (NYSE:STE - Get Free Report) last issued its quarterly earnings results on Wednesday, May 14th. The medical equipment provider reported $2.74 earnings per share for the quarter, topping the consensus estimate of $2.59 by $0.15. STERIS had a return on equity of 13.91% and a net margin of 8.66%. The firm had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.47 billion. During the same period in the prior year, the business posted $2.58 earnings per share. The company's revenue for the quarter was up 5.7% on a year-over-year basis. On average, sell-side analysts expect that STERIS plc will post 9.08 EPS for the current year.

STERIS Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 26th. Stockholders of record on Tuesday, June 10th will be paid a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a dividend yield of 0.90%. The ex-dividend date of this dividend is Tuesday, June 10th. STERIS's dividend payout ratio is presently 36.77%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on STE shares. Morgan Stanley boosted their price objective on shares of STERIS from $240.00 to $260.00 and gave the company an "equal weight" rating in a report on Monday. Needham & Company LLC reaffirmed a "hold" rating on shares of STERIS in a research note on Monday, April 7th. JMP Securities lifted their target price on shares of STERIS from $265.00 to $280.00 and gave the company a "market outperform" rating in a research note on Friday. Citigroup reissued an "outperform" rating on shares of STERIS in a report on Friday. Finally, Piper Sandler increased their price objective on shares of STERIS from $260.00 to $265.00 and gave the company an "overweight" rating in a report on Monday, February 3rd. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $264.00.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.