California Public Employees Retirement System Trims Holdings in STERIS plc (NYSE:STE)

California Public Employees Retirement System lowered its position in STERIS plc (NYSE:STE) by 4.4% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 159,440 shares of the medical equipment provider’s stock after selling 7,263 shares during the period. California Public Employees Retirement System’s holdings in STERIS were worth $32,774,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Norges Bank purchased a new stake in shares of STERIS in the 4th quarter valued at $238,836,000. Raymond James Financial Inc. purchased a new stake in STERIS in the fourth quarter valued at $223,987,000. Franklin Resources Inc. grew its position 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 purchasing an additional 529,308 shares during the period. Boston Trust Walden Corp raised its stake 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 buying an additional 179,829 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in shares of STERIS by 15.9% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,261,927 shares of the medical equipment provider’s stock valued at $257,585,000 after buying an additional 172,795 shares during the period. Institutional investors and hedge funds own 94.69% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on STE. Stephens reiterated an “overweight” rating and set a $240.00 price target on shares of STERIS in a research report on Thursday, February 6th. Piper Sandler lifted their target price on shares of STERIS from $260.00 to $265.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Finally, JMP Securities reissued a “market outperform” rating and set a $265.00 price target on shares of STERIS in a report on Thursday, February 6th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $258.75.

STERIS Stock Up 1.0 %

STERIS stock opened at $227.91 on Thursday. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.13 and a quick ratio of 1.40. The stock has a market capitalization of $22.39 billion, a PE ratio of 48.39 and a beta of 0.92. The business has a 50 day simple moving average of $223.22 and a 200-day simple moving average of $220.93. STERIS plc has a 12 month low of $197.82 and a 12 month high of $248.24.

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

STERIS Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Thursday, February 20th were paid a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a yield of 1.00%. The ex-dividend date was Thursday, February 20th. STERIS’s dividend payout ratio 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.