Handelsbanken Fonder AB Purchases 5,621 Shares of STERIS plc (NYSE:STE)

Handelsbanken Fonder AB lifted its position in shares of STERIS plc (NYSE:STE) by 9.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 63,482 shares of the medical equipment provider’s stock after acquiring an additional 5,621 shares during the quarter. Handelsbanken Fonder AB’s holdings in STERIS were worth $13,049,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in STE. Creative Planning raised its position in shares of STERIS by 1.4% during the third quarter. Creative Planning now owns 9,019 shares of the medical equipment provider’s stock worth $2,187,000 after acquiring an additional 126 shares during the last quarter. Values First Advisors Inc. acquired a new stake in shares of STERIS during the third quarter worth $219,000. Mediolanum International Funds Ltd grew its stake in shares of STERIS by 24.4% during the third quarter. Mediolanum International Funds Ltd now owns 69,567 shares of the medical equipment provider’s stock worth $16,602,000 after purchasing an additional 13,651 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of STERIS by 25.7% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,387 shares of the medical equipment provider’s stock worth $2,005,000 after purchasing an additional 1,713 shares during the period. Finally, Wealth Enhancement Advisory Services LLC grew its stake in shares of STERIS by 32.8% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 7,705 shares of the medical equipment provider’s stock worth $1,869,000 after purchasing an additional 1,904 shares during the period. Institutional investors own 94.69% of the company’s stock.

STERIS Stock Performance

STE opened at $220.43 on Friday. STERIS plc has a 52-week low of $197.82 and a 52-week high of $248.24. The firm has a market capitalization of $21.66 billion, a PE ratio of 46.80 and a beta of 0.84. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.40 and a current ratio of 2.13. The business’s 50-day simple moving average is $213.47 and its 200 day simple moving average is $223.64.

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

STERIS Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, March 21st. Investors of record on Thursday, February 20th will be issued a dividend of $0.57 per share. The ex-dividend date is Thursday, February 20th. This represents a $2.28 annualized dividend and a yield of 1.03%. STERIS’s payout ratio is presently 48.41%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on STE. Stephens reaffirmed an “overweight” rating and set a $240.00 price objective on shares of STERIS in a research note on Thursday, February 6th. StockNews.com cut STERIS from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, October 29th. JMP Securities reissued a “market outperform” rating and issued a $265.00 target price on shares of STERIS in a research note on Thursday, February 6th. Piper Sandler boosted their target price on STERIS from $260.00 to $265.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of STERIS in a research report on Friday, November 8th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, STERIS has an average rating of “Moderate Buy” and an average target price of $258.75.

Insider Buying and Selling

In other STERIS news, SVP Cary L. Majors sold 1,682 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $217.32, for a total value of $365,532.24. Following the sale, the senior vice president now owns 11,372 shares in the company, valued at $2,471,363.04. This represents a 12.88 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.14% of the stock is currently owned by corporate insiders.

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.