Sherbrooke Park Advisers LLC Takes Position in STERIS plc (NYSE:STE)

Sherbrooke Park Advisers LLC acquired a new stake in STERIS plc (NYSE:STE - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 2,932 shares of the medical equipment provider's stock, valued at approximately $603,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Park Avenue Securities LLC boosted its holdings in 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 buying an additional 126 shares during the last quarter. Carnegie Investment Counsel boosted its holdings in STERIS by 1.5% in the 4th quarter. Carnegie Investment Counsel now owns 57,188 shares of the medical equipment provider's stock worth $11,756,000 after buying an additional 833 shares during the last quarter. Central Valley Advisors LLC boosted its holdings in STERIS by 10.9% in the 4th quarter. Central Valley Advisors LLC now owns 6,182 shares of the medical equipment provider's stock worth $1,271,000 after buying an additional 609 shares during the last quarter. Merit Financial Group LLC purchased a new position in shares of STERIS in the fourth quarter worth about $260,000. Finally, Cranbrook Wealth Management LLC boosted its position in STERIS by 4.3% during the fourth quarter. Cranbrook Wealth Management LLC now owns 2,159 shares of the medical equipment provider's stock worth $444,000 after acquiring an additional 90 shares during the last quarter. 94.69% of the stock is currently owned by hedge funds and other institutional investors.

STERIS Stock Down 1.3%

STE stock traded down $3.15 during mid-day trading on Thursday, reaching $243.19. The company had a trading volume of 140,332 shares, compared to its average volume of 595,017. The company has a market capitalization of $23.89 billion, a price-to-earnings ratio of 51.63 and a beta of 0.96. The firm has a fifty day simple moving average of $225.64 and a 200 day simple moving average of $219.88. 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.

STERIS (NYSE:STE - Get Free Report) last posted its earnings results on Wednesday, May 14th. The medical equipment provider reported $2.74 EPS for the quarter, beating 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 firm had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.47 billion. During the same quarter in the prior year, the company posted $2.58 earnings per share. STERIS's revenue for the quarter was up 5.7% compared to the same quarter last year. Analysts forecast that STERIS plc will post 9.08 earnings per share for the current fiscal year.

STERIS Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 26th. Stockholders of record on Tuesday, June 10th will be issued a $0.57 dividend. This represents a $2.28 annualized dividend and a dividend yield of 0.94%. The ex-dividend date of this dividend is Tuesday, June 10th. STERIS's payout ratio is 36.77%.

Analyst Ratings Changes

A number of research firms recently weighed in on STE. Citigroup restated an "outperform" rating on shares of STERIS in a research report on Friday, May 16th. Piper Sandler raised their target price on STERIS from $260.00 to $265.00 and gave the company an "overweight" rating in a report on Monday, February 3rd. Wall Street Zen raised shares of STERIS from a "buy" rating to a "strong-buy" rating in a research note on Thursday. Needham & Company LLC reissued a "hold" rating on shares of STERIS in a research note on Monday, April 7th. Finally, JMP Securities raised their price objective on shares of STERIS from $265.00 to $280.00 and gave the company a "market outperform" rating in a research note on Friday, May 16th. Two analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $264.00.

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.