Prudential PLC Lowers Stake in STERIS plc (NYSE:STE)

Prudential PLC trimmed its holdings in STERIS plc (NYSE:STE) by 5.8% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 45,055 shares of the medical equipment provider’s stock after selling 2,781 shares during the period. Prudential PLC’s holdings in STERIS were worth $9,262,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the business. Magnolia Capital Advisors LLC raised its stake in STERIS by 1.9% during the 4th quarter. Magnolia Capital Advisors LLC now owns 2,534 shares of the medical equipment provider’s stock valued at $521,000 after acquiring an additional 48 shares during the last quarter. SkyView Investment Advisors LLC raised its position in STERIS by 1.6% during the 3rd quarter. SkyView Investment Advisors LLC now owns 3,153 shares of the medical equipment provider’s stock worth $765,000 after buying an additional 51 shares during the last quarter. Park Edge Advisors LLC lifted its stake in shares of STERIS by 1.1% in the 4th quarter. Park Edge Advisors LLC now owns 4,662 shares of the medical equipment provider’s stock worth $958,000 after acquiring an additional 51 shares during the period. Citizens Financial Group Inc. RI increased its stake in shares of STERIS by 5.9% during the fourth quarter. Citizens Financial Group Inc. RI now owns 975 shares of the medical equipment provider’s stock worth $201,000 after acquiring an additional 54 shares during the period. Finally, Opal Wealth Advisors LLC raised its holdings in STERIS by 5.7% during the fourth quarter. Opal Wealth Advisors LLC now owns 1,118 shares of the medical equipment provider’s stock worth $230,000 after purchasing an additional 60 shares in the last quarter. Institutional investors and hedge funds own 94.69% of the company’s stock.

Analysts Set New Price Targets

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

STERIS Trading Down 3.7 %

Shares of STE stock opened at $213.16 on Friday. STERIS plc has a fifty-two week low of $197.82 and a fifty-two week high of $248.24. The company has a quick ratio of 1.40, a current ratio of 2.13 and a debt-to-equity ratio of 0.32. The business has a fifty day simple moving average of $223.23 and a 200-day simple moving average of $220.72. The stock has a market cap of $20.94 billion, a P/E ratio of 45.26 and a beta of 0.92.

STERIS (NYSE:STE) last posted 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%. On average, analysts forecast that STERIS plc will post 9.08 earnings per share for the current fiscal year.

STERIS Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Thursday, February 20th were issued a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a yield of 1.07%. The ex-dividend date was Thursday, February 20th. STERIS’s dividend payout ratio (DPR) is presently 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.