Allstate Corp Buys Shares of 2,975 STERIS plc (NYSE:STE)

Allstate Corp purchased a new position in shares of STERIS plc (NYSE:STE) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 2,975 shares of the medical equipment provider’s stock, valued at approximately $612,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Franklin Resources Inc. grew its holdings in STERIS by 171.2% during the 3rd quarter. Franklin Resources Inc. now owns 838,569 shares of the medical equipment provider’s stock worth $191,370,000 after acquiring an additional 529,308 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in STERIS by 30.8% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 10,970 shares of the medical equipment provider’s stock worth $2,275,000 after purchasing an additional 2,583 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new stake in STERIS in the third quarter valued at about $9,949,000. Public Sector Pension Investment Board raised its stake in STERIS by 13.2% during the third quarter. Public Sector Pension Investment Board now owns 4,283 shares of the medical equipment provider’s stock valued at $1,039,000 after buying an additional 500 shares in the last quarter. Finally, Merit Financial Group LLC bought a new position in STERIS during the 4th quarter worth approximately $260,000. Institutional investors own 94.69% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on STE shares. JMP Securities reiterated a “market outperform” rating and issued a $265.00 price target on shares of STERIS in a report on Thursday, February 6th. Piper Sandler raised their price target on shares of STERIS from $260.00 to $265.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Finally, Stephens reaffirmed an “overweight” rating and set a $240.00 price objective on shares of STERIS in a research report on Thursday, February 6th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, STERIS has a consensus rating of “Moderate Buy” and an average target price of $258.75.

STERIS Stock Performance

STE stock opened at $225.49 on Wednesday. The stock’s fifty day moving average is $223.03 and its two-hundred day moving average is $220.88. The stock has a market capitalization of $22.15 billion, a price-to-earnings ratio of 47.87 and a beta of 0.92. 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 1 year low of $197.82 and a 1 year high of $248.24.

STERIS (NYSE:STE) last posted its earnings results on Wednesday, February 5th. The medical equipment provider reported $2.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.33 by ($0.01). STERIS had a net margin of 8.66% and a return on equity of 13.91%. On average, research analysts predict that STERIS plc will post 9.08 EPS for the current year.

STERIS Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Thursday, February 20th were given a $0.57 dividend. This represents a $2.28 annualized dividend and a yield of 1.01%. The ex-dividend date was Thursday, February 20th. STERIS’s dividend payout ratio is currently 48.41%.

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.