STERIS plc (NYSE:STE) Shares Purchased by Sumitomo Mitsui DS Asset Management Company Ltd

Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in STERIS plc (NYSE:STE) by 1.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,092 shares of the medical equipment provider’s stock after acquiring an additional 148 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in STERIS were worth $1,999,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in STE. Impax Asset Management Group plc raised its holdings in shares of STERIS by 419.1% during the fourth quarter. Impax Asset Management Group plc now owns 964,935 shares of the medical equipment provider’s stock worth $211,430,000 after purchasing an additional 779,038 shares during the period. Envestnet Asset Management Inc. raised its holdings in shares of STERIS by 58.4% during the third quarter. Envestnet Asset Management Inc. now owns 586,380 shares of the medical equipment provider’s stock worth $128,663,000 after purchasing an additional 216,113 shares during the period. Artemis Investment Management LLP acquired a new stake in shares of STERIS during the fourth quarter worth $32,687,000. Lord Abbett & CO. LLC raised its holdings in shares of STERIS by 65.5% during the third quarter. Lord Abbett & CO. LLC now owns 244,659 shares of the medical equipment provider’s stock worth $53,683,000 after purchasing an additional 96,800 shares during the period. Finally, Invesco Ltd. raised its holdings in shares of STERIS by 12.8% during the third quarter. Invesco Ltd. now owns 718,633 shares of the medical equipment provider’s stock worth $157,682,000 after purchasing an additional 81,828 shares during the period. 94.69% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have weighed in on STE. Stephens reissued an “overweight” rating and set a $250.00 target price on shares of STERIS in a report on Friday, February 9th. JMP Securities reissued a “market outperform” rating and set a $265.00 target price on shares of STERIS in a report on Thursday, February 8th. KeyCorp began coverage on shares of STERIS in a report on Tuesday, February 6th. They set an “overweight” rating and a $253.00 target price on the stock. TheStreet raised shares of STERIS from a “c+” rating to a “b” rating in a report on Wednesday, February 7th. Finally, Needham & Company LLC restated a “hold” rating on shares of STERIS in a research report on Friday, April 12th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $239.60.

STERIS Stock Down 1.5 %

STERIS stock opened at $202.80 on Thursday. The company has a 50-day simple moving average of $222.36 and a 200-day simple moving average of $217.06. The firm has a market capitalization of $20.04 billion, a P/E ratio of 35.52 and a beta of 0.79. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.49 and a current ratio of 2.43. STERIS plc has a one year low of $180.54 and a one year high of $254.00.

STERIS (NYSE:STE) last announced its earnings results on Wednesday, February 7th. The medical equipment provider reported $2.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.17 by $0.05. The firm had revenue of $1.40 billion during the quarter, compared to analyst estimates of $1.35 billion. STERIS had a net margin of 10.48% and a return on equity of 13.67%. STERIS’s revenue was up 14.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.02 EPS. As a group, equities analysts expect that STERIS plc will post 8.67 earnings per share for the current year.

STERIS Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 22nd. Investors of record on Friday, February 23rd were given a $0.52 dividend. The ex-dividend date of this dividend was Thursday, February 22nd. This represents a $2.08 dividend on an annualized basis and a yield of 1.03%. STERIS’s dividend payout ratio is presently 36.43%.

STERIS Company Profile

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.