London Co. of Virginia Cuts Stock Holdings in STERIS plc (NYSE:STE)

London Co. of Virginia lowered its position in shares of STERIS plc (NYSE:STE - Free Report) by 0.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 900,439 shares of the medical equipment provider's stock after selling 5,730 shares during the quarter. London Co. of Virginia owned about 0.92% of STERIS worth $185,094,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Norges Bank acquired a new position in STERIS in the fourth quarter valued at approximately $238,836,000. Raymond James Financial Inc. acquired a new stake in shares of STERIS during the 4th quarter worth approximately $223,987,000. Franklin Resources Inc. increased its stake in shares of STERIS by 45.1% in the 4th quarter. Franklin Resources Inc. now owns 1,216,821 shares of the medical equipment provider's stock valued at $250,130,000 after acquiring an additional 378,252 shares in the last quarter. Wellington Management Group LLP lifted its position in shares of STERIS by 4,534.6% during the 4th quarter. Wellington Management Group LLP now owns 219,032 shares of the medical equipment provider's stock valued at $45,024,000 after acquiring an additional 214,306 shares during the period. Finally, D. E. Shaw & Co. Inc. bought a new position in STERIS during the fourth quarter worth $37,243,000. 94.69% of the stock is currently owned by institutional investors and hedge funds.

STERIS Stock Up 8.1%

NYSE STE traded up $18.54 during trading hours on Thursday, hitting $246.04. The company's stock had a trading volume of 1,153,869 shares, compared to its average volume of 540,248. 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's 50-day simple moving average is $223.65 and its two-hundred day simple moving average is $219.15. The company has a market capitalization of $24.17 billion, a PE ratio of 52.24 and a beta of 0.96. STERIS plc has a 52 week low of $200.98 and a 52 week high of $263.12.

STERIS (NYSE:STE - Get Free Report) last posted its earnings results on Wednesday, May 14th. The medical equipment provider reported $2.74 earnings per share for the quarter, beating analysts' consensus estimates of $2.59 by $0.15. The company had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.47 billion. STERIS had a return on equity of 13.91% and a net margin of 8.66%. The company's revenue for the quarter was up 5.7% on a year-over-year basis. During the same quarter last year, the company earned $2.58 earnings per share. Research analysts anticipate that STERIS plc will post 9.08 EPS for the current fiscal 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. The ex-dividend date is Tuesday, June 10th. This represents a $2.28 annualized dividend and a yield of 0.93%. STERIS's payout ratio is 48.41%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on STE. Stephens reaffirmed an "overweight" rating and issued a $250.00 price target on shares of STERIS in a research note on Thursday. Piper Sandler boosted their target price on 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 report on Monday, April 7th. Finally, JMP Securities restated a "market outperform" rating and set a $265.00 price objective on shares of STERIS in a report on Thursday, April 10th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat.com, STERIS presently has an average rating of "Moderate Buy" and an average price target of $261.25.

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.