Twinbeech Capital LP increased its holdings in shares of STERIS plc (NYSE:STE - Free Report) by 56.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 16,391 shares of the medical equipment provider's stock after purchasing an additional 5,944 shares during the quarter. Twinbeech Capital LP's holdings in STERIS were worth $3,369,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. increased its position in shares of STERIS by 30.8% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 10,970 shares of the medical equipment provider's stock worth $2,275,000 after purchasing an additional 2,583 shares during the last quarter. Merit Financial Group LLC purchased a new position in STERIS during the 4th quarter valued at about $260,000. Blue Trust Inc. boosted its holdings in STERIS by 19.9% during the 4th quarter. Blue Trust Inc. now owns 1,128 shares of the medical equipment provider's stock valued at $232,000 after acquiring an additional 187 shares during the period. Entropy Technologies LP purchased a new position in STERIS during the 4th quarter valued at about $924,000. Finally, Park Avenue Securities LLC boosted its holdings in STERIS by 5.6% during the 4th quarter. Park Avenue Securities LLC now owns 2,369 shares of the medical equipment provider's stock valued at $487,000 after acquiring an additional 126 shares during the period. 94.69% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of equities analysts recently commented on STE shares. JMP Securities raised their target price on STERIS from $265.00 to $280.00 and gave the company a "market outperform" rating in a report on Friday, May 16th. Stephens reiterated an "overweight" rating and issued a $250.00 price objective on shares of STERIS in a research note on Thursday, May 15th. Piper Sandler lifted their price objective on STERIS from $260.00 to $265.00 and gave the company an "overweight" rating in a research note on Monday, February 3rd. Wall Street Zen upgraded STERIS from a "buy" rating to a "strong-buy" rating in a research note on Thursday. Finally, Citigroup reiterated an "outperform" rating on shares of STERIS in a research note on Friday, May 16th. 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. Based on data from MarketBeat, STERIS presently has an average rating of "Moderate Buy" and an average target price of $264.00.
View Our Latest Research Report on STE
STERIS Stock Down 0.2%
Shares of NYSE STE traded down $0.59 during midday trading on Friday, hitting $243.21. 538,496 shares of the company's stock were exchanged, compared to its average volume of 543,515. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.13 and a quick ratio of 1.40. STERIS plc has a twelve month low of $200.98 and a twelve month high of $252.79. The company has a market cap of $23.90 billion, a PE ratio of 51.64 and a beta of 0.96. The firm's fifty day simple moving average is $225.95 and its 200-day simple moving average is $220.00.
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. STERIS had a return on equity of 13.91% and a net margin of 8.66%. The business had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.47 billion. During the same quarter last year, the company earned $2.58 EPS. The business's quarterly revenue was up 5.7% on a year-over-year basis. Research analysts predict 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. Shareholders of record on Tuesday, June 10th will be given a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a yield of 0.94%. The ex-dividend date of this dividend is Tuesday, June 10th. STERIS's dividend payout ratio (DPR) is 36.77%.
About STERIS
(
Free Report)
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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