California State Teachers Retirement System raised its stake in STERIS plc (NYSE:STE – Get Rating) by 2.7% during the third quarter, HoldingsChannel.com reports. The fund owned 164,912 shares of the medical equipment provider’s stock after acquiring an additional 4,403 shares during the quarter. California State Teachers Retirement System’s holdings in STERIS were worth $27,422,000 at the end of the most recent reporting period.
Several other hedge funds have also recently bought and sold shares of the stock. M&T Bank Corp grew its holdings in shares of STERIS by 4.7% in the 3rd quarter. M&T Bank Corp now owns 47,889 shares of the medical equipment provider’s stock worth $7,965,000 after purchasing an additional 2,128 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC increased its holdings in shares of STERIS by 23.8% during the third quarter. Kayne Anderson Rudnick Investment Management LLC now owns 76,417 shares of the medical equipment provider’s stock worth $12,706,000 after buying an additional 14,702 shares in the last quarter. Kentucky Retirement Systems Insurance Trust Fund raised its stake in shares of STERIS by 4.8% in the third quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 3,584 shares of the medical equipment provider’s stock valued at $596,000 after acquiring an additional 163 shares during the last quarter. Kentucky Retirement Systems boosted its holdings in shares of STERIS by 5.4% in the 3rd quarter. Kentucky Retirement Systems now owns 7,829 shares of the medical equipment provider’s stock worth $1,302,000 after acquiring an additional 398 shares in the last quarter. Finally, BNP Paribas Arbitrage SNC grew its position in STERIS by 280.2% during the 3rd quarter. BNP Paribas Arbitrage SNC now owns 96,390 shares of the medical equipment provider’s stock worth $16,028,000 after acquiring an additional 71,036 shares during the last quarter. 92.35% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several brokerages have issued reports on STE. TheStreet downgraded STERIS from a “b-” rating to a “c+” rating in a research report on Wednesday, March 1st. JMP Securities reduced their price target on shares of STERIS from $250.00 to $240.00 and set a “market outperform” rating on the stock in a research report on Wednesday, February 15th. StockNews.com began coverage on shares of STERIS in a research report on Thursday. They issued a “buy” rating for the company. Piper Sandler reduced their target price on shares of STERIS from $235.00 to $215.00 and set an “overweight” rating on the stock in a research report on Thursday, February 9th. Finally, Stephens reissued an “overweight” rating and issued a $220.00 price target on shares of STERIS in a report on Thursday, February 9th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $232.83.
STERIS Stock Down 1.2 %
STERIS (NYSE:STE – Get Rating) last released its earnings results on Wednesday, February 8th. The medical equipment provider reported $2.02 EPS for the quarter, missing analysts’ consensus estimates of $2.19 by ($0.17). The business had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.27 billion. STERIS had a positive return on equity of 12.86% and a negative net margin of 0.58%. STERIS’s revenue was up .8% on a year-over-year basis. During the same period in the prior year, the firm posted $2.12 EPS. On average, sell-side analysts forecast that STERIS plc will post 8.05 earnings per share for the current year.
STERIS Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Thursday, March 23rd. Shareholders of record on Friday, February 24th will be issued a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 1.06%. The ex-dividend date is Thursday, February 23rd. STERIS’s dividend payout ratio (DPR) is currently -648.25%.
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.
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