Frontier Capital Management Co. LLC Trims Stake in STERIS plc (NYSE:STE)

Frontier Capital Management Co. LLC reduced its position in shares of STERIS plc (NYSE:STE) by 5.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 235,093 shares of the medical equipment provider’s stock after selling 13,414 shares during the quarter. Frontier Capital Management Co. LLC’s holdings in STERIS were worth $48,326,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of STE. Avalon Trust Co acquired a new stake in shares of STERIS in the fourth quarter worth approximately $30,000. Human Investing LLC acquired a new position in STERIS in the 4th quarter valued at about $31,000. Anfield Capital Management LLC increased its stake in STERIS by 100.0% during the fourth quarter. Anfield Capital Management LLC now owns 182 shares of the medical equipment provider’s stock worth $37,000 after acquiring an additional 91 shares during the last quarter. Manchester Capital Management LLC increased its position in shares of STERIS by 182.7% during the 4th quarter. Manchester Capital Management LLC now owns 212 shares of the medical equipment provider’s stock worth $44,000 after purchasing an additional 137 shares during the last quarter. Finally, Brown Brothers Harriman & Co. lifted its position in STERIS by 66.7% in the fourth quarter. Brown Brothers Harriman & Co. now owns 220 shares of the medical equipment provider’s stock valued at $45,000 after buying an additional 88 shares during the last quarter. 94.69% of the stock is owned by institutional investors and hedge funds.

STERIS Stock Up 1.3 %

STERIS stock opened at $225.41 on Thursday. The company has a market capitalization of $22.15 billion, a P/E ratio of 47.86 and a beta of 0.96. 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 fifty-two week low of $200.98 and a fifty-two week high of $248.24. The stock has a 50-day simple moving average of $223.31 and a 200-day simple moving average of $218.83.

STERIS (NYSE:STE) last released its quarterly earnings results on Wednesday, February 5th. The medical equipment provider reported $2.32 EPS 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%. Equities research analysts expect that STERIS plc will post 9.08 earnings per share for the current year.

STERIS Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 26th. Shareholders of record on Tuesday, June 10th will be given a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a yield of 1.01%. STERIS’s payout ratio is 48.41%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on STE shares. Needham & Company LLC reaffirmed a “hold” rating on shares of STERIS in a research report on Monday, April 7th. JMP Securities reiterated a “market outperform” rating and issued a $265.00 price objective on shares of STERIS in a report on Thursday, April 10th. Piper Sandler raised their target price on STERIS from $260.00 to $265.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Finally, Stephens raised shares of STERIS to a “strong-buy” rating in a research report on Thursday, May 1st. One research analyst has rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “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.