abrdn plc Acquires 53,444 Shares of STERIS plc (NYSE:STE)

abrdn plc grew its stake in shares of STERIS plc (NYSE:STE - Free Report) by 27.0% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 251,044 shares of the medical equipment provider's stock after buying an additional 53,444 shares during the period. abrdn plc owned approximately 0.25% of STERIS worth $55,192,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Millburn Ridgefield Corp acquired a new position in shares of STERIS during the third quarter valued at about $25,000. Catalyst Capital Advisors LLC acquired a new position in shares of STERIS during the third quarter valued at about $25,000. Global Wealth Management Investment Advisory Inc. acquired a new position in shares of STERIS during the third quarter valued at about $49,000. NBC Securities Inc. acquired a new position in shares of STERIS during the third quarter valued at about $50,000. Finally, Exchange Traded Concepts LLC acquired a new position in shares of STERIS during the third quarter valued at about $54,000. Institutional investors and hedge funds own 94.69% of the company's stock.

STERIS Price Performance

STERIS stock traded up $1.39 during trading hours on Monday, hitting $200.90. 368,666 shares of the stock were exchanged, compared to its average volume of 462,503. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.49 and a current ratio of 2.43. The stock has a market capitalization of $19.85 billion, a P/E ratio of 35.18 and a beta of 0.79. STERIS plc has a 12 month low of $180.54 and a 12 month high of $254.00. The business's 50-day moving average is $223.23 and its two-hundred day moving average is $217.29.

STERIS (NYSE:STE - Get Free Report) last issued its quarterly earnings data on Wednesday, February 7th. The medical equipment provider reported $2.22 earnings per share for the quarter, topping the consensus estimate of $2.17 by $0.05. The firm had revenue of $1.40 billion for the quarter, compared to analysts' expectations of $1.35 billion. STERIS had a net margin of 10.48% and a return on equity of 13.67%. The company's quarterly revenue was up 14.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.02 earnings per share. Equities research analysts expect that STERIS plc will post 8.67 EPS for the current fiscal year.

STERIS Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 22nd. Shareholders of record on Friday, February 23rd were paid a dividend of $0.52 per share. The ex-dividend date was Thursday, February 22nd. This represents a $2.08 annualized dividend and a yield of 1.04%. STERIS's dividend payout ratio is 36.43%.

Analysts Set New Price Targets

STE has been the subject of a number of research analyst reports. Needham & Company LLC reaffirmed a "hold" rating on shares of STERIS in a research report on Friday, April 12th. Stephens reissued an "overweight" rating and issued a $250.00 target price on shares of STERIS in a research note on Friday, February 9th. KeyCorp started coverage on shares of STERIS in a research note on Tuesday, February 6th. They issued an "overweight" rating and a $253.00 target price on the stock. JMP Securities reissued a "market outperform" rating and issued a $265.00 target price on shares of STERIS in a research note on Thursday, February 8th. Finally, TheStreet raised shares of STERIS from a "c+" rating to a "b" rating in a research note on Wednesday, February 7th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $239.60.

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.