STERIS plc (NYSE:STE) Shares Acquired by Royal Bank of Canada

Royal Bank of Canada grew its holdings in shares of STERIS plc (NYSE:STE - Free Report) by 57.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 167,224 shares of the medical equipment provider's stock after buying an additional 60,981 shares during the period. Royal Bank of Canada owned 0.17% of STERIS worth $34,376,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in STE. Geode Capital Management LLC increased its stake in STERIS by 2.4% in the 4th quarter. Geode Capital Management LLC now owns 2,359,748 shares of the medical equipment provider's stock valued at $483,775,000 after purchasing an additional 56,123 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in shares of STERIS by 15.9% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,261,927 shares of the medical equipment provider's stock valued at $257,585,000 after buying an additional 172,795 shares in the last quarter. Franklin Resources Inc. raised its stake in shares of STERIS by 45.1% during the 4th quarter. Franklin Resources Inc. now owns 1,216,821 shares of the medical equipment provider's stock worth $250,130,000 after buying an additional 378,252 shares during the last quarter. Northern Trust Corp grew its stake in STERIS by 7.4% in the 4th quarter. Northern Trust Corp now owns 1,213,037 shares of the medical equipment provider's stock valued at $249,352,000 after acquiring an additional 83,601 shares during the last quarter. Finally, Norges Bank purchased a new position in STERIS during the 4th quarter valued at about $238,836,000. Hedge funds and other institutional investors own 94.69% of the company's stock.

STERIS Trading Down 0.4%

Shares of STE traded down $0.92 during trading hours on Wednesday, hitting $245.28. The stock had a trading volume of 69,860 shares, compared to its average volume of 541,740. STERIS plc has a 12-month low of $200.98 and a 12-month high of $252.79. The firm has a market cap of $24.10 billion, a P/E ratio of 52.09 and a beta of 0.96. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.40 and a current ratio of 2.13. The company's fifty day simple moving average is $227.02 and its 200 day simple moving average is $220.44.

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 for the quarter, topping the consensus estimate of $2.59 by $0.15. The company had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.47 billion. STERIS had a return on equity of 13.91% and a net margin of 8.66%. The company's revenue was up 5.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.58 earnings per share. Equities research analysts forecast that STERIS plc will post 9.08 EPS for the current fiscal year.

STERIS Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 26th. Investors of record on Tuesday, June 10th will be issued a $0.57 dividend. The ex-dividend date is Tuesday, June 10th. This represents a $2.28 annualized dividend and a yield of 0.93%. STERIS's dividend payout ratio is presently 36.77%.

Wall Street Analyst Weigh In

Several research firms have weighed in on STE. Wall Street Zen raised STERIS from a "buy" rating to a "strong-buy" rating in a research report on Thursday, May 22nd. Stephens reaffirmed an "overweight" rating and set a $250.00 price target on shares of STERIS in a research note on Thursday, May 15th. Citigroup reissued an "outperform" rating on shares of STERIS in a research note on Friday, May 16th. Morgan Stanley lifted their target price on shares of STERIS from $240.00 to $260.00 and gave the stock an "equal weight" rating in a research note on Monday, May 19th. Finally, Needham & Company LLC reissued a "hold" rating on shares of STERIS in a research note on Monday, April 7th. Two research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price 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.