Nuveen Asset Management LLC Raises Holdings in STERIS plc (NYSE:STE)

Nuveen Asset Management LLC boosted its holdings in shares of STERIS plc (NYSE:STE - Free Report) by 2.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 362,440 shares of the medical equipment provider's stock after buying an additional 8,570 shares during the period. Nuveen Asset Management LLC owned approximately 0.37% of STERIS worth $74,503,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also modified their holdings of the company. Magnolia Capital Advisors LLC grew its stake 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 valued at $521,000 after acquiring an additional 48 shares in the last quarter. Park Edge Advisors LLC raised its position in 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 purchasing an additional 51 shares in the last quarter. Citizens Financial Group Inc. RI boosted its stake in STERIS by 5.9% in the 4th quarter. Citizens Financial Group Inc. RI now owns 975 shares of the medical equipment provider's stock valued at $201,000 after buying an additional 54 shares in the last quarter. Opal Wealth Advisors LLC raised 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 worth $230,000 after acquiring an additional 60 shares during the last quarter. Finally, Sage Private Wealth Group LLC raised its holdings in STERIS by 4.1% in the fourth 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 during the period. Institutional investors and hedge funds own 94.69% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on STE shares. Needham & Company LLC reiterated a "hold" rating on shares of STERIS in a research note on Monday, April 7th. Stephens reissued an "overweight" rating and set a $250.00 target price on shares of STERIS in a research report on Thursday, May 15th. JMP Securities upped their target price on shares of STERIS from $265.00 to $280.00 and gave the stock a "market outperform" rating in a research report on Friday, May 16th. Piper Sandler boosted their price target 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. Finally, Morgan Stanley lifted their price objective on STERIS from $240.00 to $260.00 and gave the stock an "equal weight" rating in a report on Monday. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $264.00.

STERIS Stock Performance

STE stock traded down $4.18 on Wednesday, reaching $246.29. 533,406 shares of the company were exchanged, compared to its average volume of 544,133. STERIS plc has a 12 month low of $200.98 and a 12 month high of $253.87. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.13 and a quick ratio of 1.40. The stock's fifty day moving average price is $225.64 and its 200 day moving average price is $219.88. The firm has a market capitalization of $24.20 billion, a PE ratio of 52.29 and a beta of 0.96.

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

STERIS Announces Dividend

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

STERIS 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.