Schonfeld Strategic Advisors LLC Increases Stock Position in STERIS plc (NYSE:STE)

Schonfeld Strategic Advisors LLC raised its holdings in STERIS plc (NYSE:STE - Free Report) by 796.7% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,900 shares of the medical equipment provider's stock after purchasing an additional 7,019 shares during the period. Schonfeld Strategic Advisors LLC's holdings in STERIS were worth $1,624,000 at the end of the most recent quarter.

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

Analyst Ratings Changes

Several analysts have recently weighed in on STE shares. Piper Sandler raised their price objective on shares of STERIS from $260.00 to $265.00 and gave the company an "overweight" rating in a research report on Monday, February 3rd. Needham & Company LLC reiterated a "hold" rating on shares of STERIS in a research report on Monday, April 7th. JMP Securities reissued a "market outperform" rating and set a $265.00 price objective on shares of STERIS in a report on Thursday, April 10th. Finally, Stephens raised STERIS to a "strong-buy" rating in a research note on Thursday, May 1st. One equities research analyst has rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, STERIS currently has a consensus rating of "Buy" and an average price target of $258.75.

STERIS Price Performance

STE traded up $0.68 on Friday, hitting $226.54. 511,899 shares of the company's stock traded hands, compared to its average volume of 537,859. The company's 50 day simple moving average is $223.40 and its 200-day simple moving average is $218.87. The company has a current ratio of 2.13, a quick ratio of 1.40 and a debt-to-equity ratio of 0.32. STERIS plc has a one year low of $200.98 and a one year high of $248.24. The firm has a market cap of $22.26 billion, a price-to-earnings ratio of 48.10 and a beta of 0.96.

STERIS (NYSE:STE - Get Free Report) last released its earnings results on Wednesday, February 5th. The medical equipment provider reported $2.32 earnings per share for the quarter, missing the consensus estimate of $2.33 by ($0.01). STERIS had a net margin of 8.66% and a return on equity of 13.91%. As a group, research analysts anticipate that STERIS plc will post 9.08 EPS for the current year.

STERIS Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 26th. Investors of record on Tuesday, June 10th will be paid a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 1.01%. The ex-dividend date of this dividend is Tuesday, June 10th. STERIS's dividend payout ratio is currently 48.41%.

STERIS Company 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.