Royal Bank of Canada Has $34.38 Million Holdings in STERIS plc (NYSE:STE)

Royal Bank of Canada boosted its position in shares of STERIS plc (NYSE:STE - Free Report) by 57.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 167,224 shares of the medical equipment provider's stock after purchasing an additional 60,981 shares during the period. Royal Bank of Canada owned about 0.17% of STERIS worth $34,376,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the company. Rafferty Asset Management LLC increased its holdings in STERIS by 11.9% during the 4th quarter. Rafferty Asset Management LLC now owns 11,189 shares of the medical equipment provider's stock worth $2,300,000 after purchasing an additional 1,188 shares in the last quarter. Raiffeisen Bank International AG bought a new position in STERIS during the 4th quarter worth about $1,088,000. ProShare Advisors LLC increased its holdings in STERIS by 19.8% during the 4th quarter. ProShare Advisors LLC now owns 22,318 shares of the medical equipment provider's stock worth $4,588,000 after purchasing an additional 3,685 shares in the last quarter. Quantinno Capital Management LP increased its holdings in STERIS by 2.8% during the 4th quarter. Quantinno Capital Management LP now owns 23,053 shares of the medical equipment provider's stock worth $4,739,000 after purchasing an additional 630 shares in the last quarter. Finally, Mufg Securities Americas Inc. bought a new position in STERIS during the 4th quarter worth about $300,000. Institutional investors own 94.69% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on STE shares. Citigroup reiterated an "outperform" rating on shares of STERIS in a report on Friday, May 16th. Piper Sandler raised their price objective on STERIS from $260.00 to $265.00 and gave the company an "overweight" rating in a report on Monday, February 3rd. Morgan Stanley raised their price objective on STERIS from $240.00 to $260.00 and gave the company an "equal weight" rating in a report on Monday. Stephens restated an "overweight" rating and issued a $250.00 price objective on shares of STERIS in a report on Thursday, May 15th. Finally, Wall Street Zen upgraded STERIS from a "buy" rating to a "strong-buy" rating in a report on Thursday. Two equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $264.00.

STERIS Trading Down 1.1%

Shares of NYSE:STE opened at $243.61 on Friday. STERIS plc has a 52-week low of $200.98 and a 52-week high of $252.79. The company has a market capitalization of $23.93 billion, a P/E ratio of 51.72 and a beta of 0.96. The company has a 50-day simple moving average of $225.95 and a 200 day simple moving average of $220.00. 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 issued its earnings results on Wednesday, May 14th. The medical equipment provider reported $2.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.59 by $0.15. STERIS had a net margin of 8.66% and a return on equity of 13.91%. The business had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.47 billion. During the same period last year, the business posted $2.58 EPS. STERIS's revenue was up 5.7% on a year-over-year basis. Sell-side analysts forecast that STERIS plc will post 9.08 earnings per share for the current year.

STERIS Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 26th. Investors of record on Tuesday, June 10th will be paid a $0.57 dividend. The ex-dividend date is Tuesday, June 10th. This represents a $2.28 annualized dividend and a yield of 0.94%. STERIS's dividend payout ratio (DPR) is currently 36.77%.

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.

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