First Trust Advisors LP Decreases Stock Position in STERIS plc (NYSE:STE)

First Trust Advisors LP lowered its stake in shares of STERIS plc (NYSE:STE - Free Report) by 47.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 25,023 shares of the medical equipment provider's stock after selling 22,318 shares during the period. First Trust Advisors LP's holdings in STERIS were worth $5,144,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of STE. Magnolia Capital Advisors LLC boosted its stake in shares of STERIS by 1.9% in the fourth quarter. Magnolia Capital Advisors LLC now owns 2,534 shares of the medical equipment provider's stock worth $521,000 after buying an additional 48 shares during the last quarter. Park Edge Advisors LLC raised its position in shares of 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 acquiring an additional 51 shares during the period. Citizens Financial Group Inc. RI raised its holdings 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 worth $201,000 after purchasing an additional 54 shares during the period. Opal Wealth Advisors LLC grew its holdings in STERIS by 5.7% in the fourth quarter. Opal Wealth Advisors LLC now owns 1,118 shares of the medical equipment provider's stock valued at $230,000 after purchasing an additional 60 shares during the period. Finally, Sage Private Wealth Group LLC raised its stake in shares of STERIS by 4.1% during the 4th quarter. Sage Private Wealth Group LLC now owns 1,537 shares of the medical equipment provider's stock worth $316,000 after buying an additional 61 shares during the period. Institutional investors own 94.69% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. JMP Securities reaffirmed a "market outperform" rating and issued a $265.00 price target on shares of STERIS in a research note on Thursday, April 10th. Needham & Company LLC restated a "hold" rating on shares of STERIS in a report on Monday, April 7th. Piper Sandler lifted their target price on STERIS from $260.00 to $265.00 and gave the company an "overweight" rating in a research report on Monday, February 3rd. Finally, Stephens upgraded STERIS to a "strong-buy" rating in a report on Thursday, May 1st. One equities research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, STERIS presently has an average rating of "Buy" and a consensus target price of $258.75.

STERIS Price Performance

Shares of STE traded up $2.96 on Wednesday, reaching $225.41. The stock had a trading volume of 755,566 shares, compared to its average volume of 541,228. The firm has a 50-day moving average of $223.31 and a 200 day moving average of $218.83. The firm has a market capitalization of $22.15 billion, a PE ratio of 47.86 and a beta of 0.96. STERIS plc has a twelve month low of $200.98 and a twelve month high of $248.24. The company has a quick ratio of 1.40, a current ratio of 2.13 and a debt-to-equity ratio of 0.32.

STERIS (NYSE:STE - Get Free Report) last posted its quarterly earnings data on Wednesday, February 5th. The medical equipment provider reported $2.32 EPS for the quarter, missing analysts' consensus estimates of $2.33 by ($0.01). STERIS had a return on equity of 13.91% and a net margin of 8.66%. Sell-side analysts expect that STERIS plc will post 9.08 EPS for the current 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 given a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a yield of 1.01%. STERIS's dividend payout ratio (DPR) is 48.41%.

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.