First Horizon Advisors Inc. Boosts Stake in STERIS plc (NYSE:STE)

First Horizon Advisors Inc. lifted its holdings in STERIS plc (NYSE:STE) by 9.3% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,011 shares of the medical equipment provider’s stock after buying an additional 86 shares during the period. First Horizon Advisors Inc.’s holdings in STERIS were worth $222,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of STE. Impax Asset Management Group plc raised its position in STERIS by 419.1% in 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 acquiring an additional 779,038 shares during the period. Envestnet Asset Management Inc. raised its holdings in shares of STERIS by 58.4% in the 3rd 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 purchased a new position in STERIS in the fourth quarter valued at approximately $32,687,000. Jennison Associates LLC lifted its stake in STERIS by 60.2% in the fourth quarter. Jennison Associates LLC now owns 268,029 shares of the medical equipment provider’s stock valued at $58,926,000 after purchasing an additional 100,734 shares during the last quarter. Finally, Lord Abbett & CO. LLC grew its holdings in STERIS by 65.5% during the third quarter. Lord Abbett & CO. LLC now owns 244,659 shares of the medical equipment provider’s stock valued at $53,683,000 after purchasing an additional 96,800 shares during the period. 94.69% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on STE. KeyCorp started coverage on STERIS in a research note on Tuesday, February 6th. They issued an “overweight” rating and a $253.00 target price on the stock. StockNews.com cut STERIS from a “buy” rating to a “hold” rating in a research note on Friday. Stephens reiterated an “overweight” rating and set a $250.00 target price on shares of STERIS in a research report on Friday, February 9th. Needham & Company LLC reiterated a “hold” rating on shares of STERIS in a research note on Friday, April 12th. Finally, TheStreet upgraded shares of STERIS from a “c+” rating to a “b” rating in a research note on Wednesday, February 7th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $239.60.

STERIS Trading Up 0.8 %

Shares of STE opened at $207.82 on Monday. STERIS plc has a twelve month low of $185.22 and a twelve month high of $254.00. The stock has a market cap of $20.53 billion, a PE ratio of 36.40 and a beta of 0.81. The company has a quick ratio of 1.49, a current ratio of 2.43 and a debt-to-equity ratio of 0.50. The business’s 50-day moving average price is $218.46 and its 200-day moving average price is $216.09.

STERIS (NYSE:STE) last released its quarterly earnings results on Wednesday, February 7th. The medical equipment provider reported $2.22 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%. The business’s revenue for the quarter was up 14.8% on a year-over-year basis. During the same period in the previous year, the business earned $2.02 EPS. On average, equities analysts forecast that STERIS plc will post 8.67 EPS for the current fiscal year.

STERIS Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 26th. Shareholders of record on Wednesday, June 12th will be issued a $0.52 dividend. The ex-dividend date is Wednesday, June 12th. This represents a $2.08 annualized dividend and a dividend yield of 1.00%. STERIS’s payout ratio is currently 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.