STERIS plc (NYSE:STE) Shares Acquired by Select Equity Group L.P.

Select Equity Group L.P. grew its holdings in shares of STERIS plc (NYSE:STE - Free Report) by 165.3% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,599,730 shares of the medical equipment provider's stock after acquiring an additional 1,619,796 shares during the quarter. STERIS accounts for approximately 2.1% of Select Equity Group L.P.'s holdings, making the stock its 17th biggest holding. Select Equity Group L.P. owned approximately 2.65% of STERIS worth $534,400,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Geode Capital Management LLC increased its holdings in STERIS by 2.4% in the 4th quarter. Geode Capital Management LLC now owns 2,359,748 shares of the medical equipment provider's stock worth $483,775,000 after buying an additional 56,123 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in STERIS by 15.9% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,261,927 shares of the medical equipment provider's stock worth $257,585,000 after purchasing an additional 172,795 shares during the last quarter. Franklin Resources Inc. lifted its position in STERIS by 45.1% in the fourth quarter. Franklin Resources Inc. now owns 1,216,821 shares of the medical equipment provider's stock worth $250,130,000 after buying an additional 378,252 shares during the last quarter. Northern Trust Corp lifted its position in STERIS by 7.4% in the fourth quarter. Northern Trust Corp now owns 1,213,037 shares of the medical equipment provider's stock worth $249,352,000 after buying an additional 83,601 shares during the last quarter. Finally, Norges Bank purchased a new stake in STERIS in the fourth quarter worth $238,836,000. 94.69% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have weighed in on STE. Morgan Stanley increased their target price on STERIS from $240.00 to $260.00 and gave the stock an "equal weight" rating in a research note on Monday. Stephens restated an "overweight" rating and set a $250.00 price target on shares of STERIS in a research note on Thursday, May 15th. JMP Securities lifted their target price on STERIS from $265.00 to $280.00 and gave the company a "market outperform" rating in a research note on Friday. Needham & Company LLC restated a "hold" rating on shares of STERIS in a research note on Monday, April 7th. Finally, Piper Sandler boosted their price target on STERIS from $260.00 to $265.00 and gave the stock an "overweight" rating in a research note on Monday, February 3rd. Two analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, STERIS presently has a consensus rating of "Moderate Buy" and an average target price of $264.00.

STERIS Stock Performance

STERIS stock traded down $2.19 during midday trading on Tuesday, hitting $250.36. 673,493 shares of the company were exchanged, compared to its average volume of 544,176. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.40 and a current ratio of 2.13. STERIS plc has a fifty-two week low of $200.98 and a fifty-two week high of $252.79. The business has a fifty day simple moving average of $224.69 and a two-hundred day simple moving average of $219.48. The firm has a market capitalization of $24.60 billion, a PE ratio of 53.15 and a beta of 0.96.

STERIS (NYSE:STE - Get Free Report) last announced 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 during the quarter, compared to the consensus estimate of $1.47 billion. During the same period in the prior year, the company posted $2.58 EPS. The business's quarterly revenue was up 5.7% on a year-over-year basis. On average, sell-side analysts forecast that STERIS plc will post 9.08 earnings per share for the current year.

STERIS Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 26th. Investors of record on Tuesday, June 10th will be paid a $0.57 dividend. This represents a $2.28 annualized dividend and a yield of 0.91%. The ex-dividend date is Tuesday, June 10th. STERIS's dividend payout ratio is currently 36.77%.

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.