Bank of New York Mellon Corp Has $148.43 Million Stock Position in STERIS plc (NYSE:STE)

Bank of New York Mellon Corp lifted its stake in STERIS plc (NYSE:STE – Get Rating) by 2.7% during the 3rd quarter, HoldingsChannel reports. The fund owned 892,665 shares of the medical equipment provider’s stock after buying an additional 23,865 shares during the period. Bank of New York Mellon Corp’s holdings in STERIS were worth $148,430,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of STE. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in STERIS by 6.3% during the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 431,406 shares of the medical equipment provider’s stock worth $71,734,000 after buying an additional 25,585 shares in the last quarter. Chevy Chase Trust Holdings LLC boosted its stake in shares of STERIS by 1.0% in the 3rd quarter. Chevy Chase Trust Holdings LLC now owns 61,070 shares of the medical equipment provider’s stock valued at $10,155,000 after purchasing an additional 603 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. boosted its stake in shares of STERIS by 42.0% in the 2nd quarter. Tokio Marine Asset Management Co. Ltd. now owns 1,633 shares of the medical equipment provider’s stock valued at $337,000 after purchasing an additional 483 shares in the last quarter. Westpac Banking Corp boosted its stake in shares of STERIS by 29.7% in the 3rd quarter. Westpac Banking Corp now owns 8,837 shares of the medical equipment provider’s stock valued at $1,469,000 after purchasing an additional 2,021 shares in the last quarter. Finally, Guardian Capital LP boosted its stake in shares of STERIS by 22.6% in the 2nd quarter. Guardian Capital LP now owns 9,204 shares of the medical equipment provider’s stock valued at $1,897,000 after purchasing an additional 1,694 shares in the last quarter. Institutional investors and hedge funds own 92.35% of the company’s stock.

STERIS Stock Performance

Shares of NYSE:STE opened at $176.56 on Friday. The stock has a market capitalization of $17.53 billion, a P/E ratio of -608.81, a P/E/G ratio of 1.99 and a beta of 0.85. STERIS plc has a 1-year low of $159.21 and a 1-year high of $255.93. The company has a current ratio of 2.48, a quick ratio of 1.61 and a debt-to-equity ratio of 0.50. The business has a 50-day moving average price of $195.32 and a two-hundred day moving average price of $185.26.

STERIS (NYSE:STE – Get Rating) last announced its quarterly earnings data on Wednesday, February 8th. The medical equipment provider reported $2.02 earnings per share for the quarter, missing the consensus estimate of $2.19 by ($0.17). The firm had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.27 billion. STERIS had a positive return on equity of 12.86% and a negative net margin of 0.58%. The business’s revenue for the quarter was up .8% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.12 earnings per share. Equities analysts predict that STERIS plc will post 8.05 earnings per share for the current year.

STERIS Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 23rd. Shareholders of record on Friday, February 24th will be paid a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 1.06%. The ex-dividend date is Thursday, February 23rd. STERIS’s payout ratio is presently -648.25%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Stephens restated an “overweight” rating and issued a $220.00 target price on shares of STERIS in a research note on Thursday, February 9th. StockNews.com initiated coverage on shares of STERIS in a research note on Thursday. They issued a “buy” rating on the stock. JMP Securities cut their price target on STERIS from $250.00 to $240.00 and set a “market outperform” rating for the company in a report on Wednesday, February 15th. Piper Sandler cut their price target on STERIS from $235.00 to $215.00 and set an “overweight” rating for the company in a report on Thursday, February 9th. Finally, TheStreet cut STERIS from a “b-” rating to a “c+” rating in a report on Wednesday, March 1st. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $232.83.

STERIS Company Profile

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STERIS Plc engages in the provision of healthcare and life science product and service solutions. It operates through the following segments: Healthcare, Life Sciences, Applied Sterilization Technologies, and Dental. The Healthcare segment provides a comprehensive offering for healthcare providers worldwide, focused on sterile processing departments and procedural centers, such as operating rooms and endoscopy suites.