Raiffeisen Bank International AG Makes New Investment in STERIS plc (NYSE:STE)

Raiffeisen Bank International AG bought a new position in STERIS plc (NYSE:STE - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 5,306 shares of the medical equipment provider's stock, valued at approximately $1,088,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. grew its holdings in STERIS by 30.8% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 10,970 shares of the medical equipment provider's stock worth $2,275,000 after acquiring an additional 2,583 shares during the period. Merit Financial Group LLC bought a new position in shares of STERIS during the 4th quarter valued at about $260,000. Blue Trust Inc. grew its stake 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 worth $232,000 after purchasing an additional 187 shares during the last quarter. Entropy Technologies LP bought a new stake in shares of STERIS in the 4th quarter worth approximately $924,000. Finally, Park Avenue Securities LLC raised its holdings in shares of STERIS by 5.6% in the 4th quarter. Park Avenue Securities LLC now owns 2,369 shares of the medical equipment provider's stock worth $487,000 after purchasing an additional 126 shares in the last quarter. 94.69% of the stock is owned by institutional investors.

STERIS Stock Down 0.9%

STE stock traded down $2.19 during midday trading on Tuesday, reaching $250.36. The company had a trading volume of 673,493 shares, compared to its average volume of 544,176. STERIS plc has a 1 year low of $200.98 and a 1 year high of $252.79. 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 company has a market capitalization of $24.60 billion, a P/E ratio of 53.15 and a beta of 0.96. The company has a 50 day moving average of $224.69 and a two-hundred day moving average of $219.48.

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

STERIS Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 26th. Stockholders of record on Tuesday, June 10th will be given a dividend of $0.57 per share. The ex-dividend date is Tuesday, June 10th. This represents a $2.28 annualized dividend and a dividend yield of 0.91%. STERIS's dividend payout ratio (DPR) is currently 36.77%.

Wall Street Analyst Weigh In

STE has been the subject of a number of research reports. Piper Sandler raised their target price on shares of STERIS from $260.00 to $265.00 and gave the stock an "overweight" rating in a report on Monday, February 3rd. Needham & Company LLC restated a "hold" rating on shares of STERIS in a report on Monday, April 7th. Stephens restated an "overweight" rating and set a $250.00 target price on shares of STERIS in a report on Thursday, May 15th. Morgan Stanley raised their target price on shares of STERIS from $240.00 to $260.00 and gave the stock an "equal weight" rating in a report on Monday. Finally, JMP Securities raised their target price on shares of STERIS from $265.00 to $280.00 and gave the stock a "market outperform" rating in a report on Friday. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target 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.