First Horizon Advisors Inc. Lowers Position in STERIS plc (NYSE:STE)

First Horizon Advisors Inc. trimmed its position in shares of STERIS plc (NYSE:STE) by 5.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 908 shares of the medical equipment provider’s stock after selling 48 shares during the quarter. First Horizon Advisors Inc.’s holdings in STERIS were worth $187,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in STE. Franklin Resources Inc. increased its holdings in STERIS by 171.2% in the third quarter. Franklin Resources Inc. now owns 838,569 shares of the medical equipment provider’s stock valued at $191,370,000 after buying an additional 529,308 shares in the last quarter. Boston Trust Walden Corp grew its position in shares of STERIS by 400.4% during the 4th quarter. Boston Trust Walden Corp now owns 224,741 shares of the medical equipment provider’s stock valued at $46,198,000 after acquiring an additional 179,829 shares during the period. Swedbank AB purchased a new position in shares of STERIS in the 3rd quarter valued at about $28,251,000. Benjamin Edwards Inc. raised its holdings in STERIS by 2,123.2% in the 3rd quarter. Benjamin Edwards Inc. now owns 113,672 shares of the medical equipment provider’s stock worth $27,574,000 after purchasing an additional 108,559 shares during the period. Finally, Principal Financial Group Inc. boosted its position in STERIS by 9.5% during the third quarter. Principal Financial Group Inc. now owns 1,114,224 shares of the medical equipment provider’s stock worth $270,230,000 after purchasing an additional 96,336 shares in the last quarter. 94.69% of the stock is currently owned by institutional investors and hedge funds.

STERIS Trading Up 0.1 %

Shares of STE stock opened at $223.83 on Wednesday. STERIS plc has a fifty-two week low of $197.82 and a fifty-two week high of $248.24. 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 stock’s fifty day moving average is $213.84 and its two-hundred day moving average is $223.22. The firm has a market capitalization of $21.99 billion, a P/E ratio of 47.52 and a beta of 0.84.

STERIS (NYSE:STE) last posted its quarterly 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 return on equity of 13.91% and a net margin of 8.66%. Research 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. Stockholders of record on Thursday, February 20th will be issued a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a dividend yield of 1.02%. The ex-dividend date of this dividend is Thursday, February 20th. STERIS’s dividend payout ratio is currently 48.41%.

Analyst Upgrades and Downgrades

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

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.