Woodline Partners LP Makes New Investment in STERIS plc (NYSE:STE)

Woodline Partners LP acquired a new stake in STERIS plc (NYSE:STE - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 5,928 shares of the medical equipment provider's stock, valued at approximately $1,219,000.

A number of other institutional investors also recently bought and sold shares of the stock. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of STERIS by 30.8% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 10,970 shares of the medical equipment provider's stock valued at $2,275,000 after purchasing an additional 2,583 shares during the period. Merit Financial Group LLC acquired a new stake in STERIS during the 4th quarter valued at approximately $260,000. Blue Trust Inc. boosted its holdings in shares of STERIS by 19.9% in 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 last quarter. Entropy Technologies LP purchased a new stake in shares of STERIS in the 4th quarter valued at $924,000. Finally, Mutual Advisors LLC increased its stake in shares of STERIS by 15.3% in the fourth quarter. Mutual Advisors LLC now owns 2,029 shares of the medical equipment provider's stock worth $426,000 after acquiring an additional 269 shares during the period. 94.69% of the stock is currently owned by institutional investors and hedge funds.

STERIS Price Performance

STE traded down $1.17 during trading on Wednesday, hitting $245.03. The company's stock had a trading volume of 525,887 shares, compared to its average volume of 543,529. STERIS plc has a twelve month low of $200.98 and a twelve month high of $252.79. The firm has a market capitalization of $24.07 billion, a price-to-earnings ratio of 52.02 and a beta of 0.96. The company has a current ratio of 2.13, a quick ratio of 1.40 and a debt-to-equity ratio of 0.32. The business's fifty day simple moving average is $227.52 and its 200 day simple moving average is $220.61.

STERIS (NYSE:STE - Get Free Report) last posted its quarterly earnings data on Wednesday, May 14th. The medical equipment provider reported $2.74 EPS 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 company had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.47 billion. During the same period in the previous year, the business earned $2.58 EPS. STERIS's quarterly revenue was up 5.7% on a year-over-year basis. On average, equities research analysts forecast that STERIS plc will post 9.08 EPS for the current fiscal year.

STERIS Announces Dividend

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 of this dividend is Tuesday, June 10th. This represents a $2.28 annualized dividend and a dividend yield of 0.93%. STERIS's dividend payout ratio is presently 36.77%.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Piper Sandler upped their price target on shares of STERIS from $260.00 to $265.00 and gave the company an "overweight" rating in a report on Monday, February 3rd. Stephens restated an "overweight" rating and issued a $250.00 target price on shares of STERIS in a research note on Thursday, May 15th. JMP Securities raised their target price on STERIS from $265.00 to $280.00 and gave the stock a "market outperform" rating in a report on Friday, May 16th. Wall Street Zen upgraded STERIS from a "buy" rating to a "strong-buy" rating in a research report on Thursday, May 22nd. Finally, Morgan Stanley upped their price objective on STERIS from $240.00 to $260.00 and gave the stock an "equal weight" rating in a research report on Monday, May 19th. 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's stock. Based on data from MarketBeat, STERIS currently has an average rating of "Moderate Buy" and an average target price of $264.00.

About STERIS

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.