Financiere des Professionnels Fonds d investissement inc. Makes New $8.76 Million Investment in STERIS plc (NYSE:STE)

Financiere des Professionnels Fonds d investissement inc. bought a new position in shares of STERIS plc (NYSE:STEFree Report) in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 39,927 shares of the medical equipment provider’s stock, valued at approximately $8,761,000. STERIS accounts for 0.8% of Financiere des Professionnels Fonds d investissement inc.’s investment portfolio, making the stock its 29th biggest position.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in STE. Millburn Ridgefield Corp bought a new position in shares of STERIS in the third quarter valued at approximately $25,000. 1832 Asset Management L.P. bought a new position in shares of STERIS in the first quarter valued at approximately $25,000. West Tower Group LLC bought a new position in shares of STERIS in the second quarter valued at approximately $32,000. Robeco Institutional Asset Management B.V. bought a new position in shares of STERIS in the second quarter valued at approximately $44,000. Finally, Global Wealth Management Investment Advisory Inc. bought a new position in shares of STERIS in the third quarter valued at approximately $49,000. Institutional investors own 92.91% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on STE. KeyCorp began coverage on shares of STERIS in a research note on Tuesday. They issued 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 research note on Wednesday. Piper Sandler lowered their target price on shares of STERIS from $220.00 to $215.00 and set a “neutral” rating on the stock in a research note on Thursday, October 26th. JMP Securities reaffirmed a “market outperform” rating and issued a $265.00 target price on shares of STERIS in a research note on Thursday. Finally, Morgan Stanley decreased their price target on shares of STERIS from $225.00 to $215.00 and set an “equal weight” rating on the stock in a research note on Monday, December 4th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $239.60.

Get Our Latest Analysis on STE

STERIS Price Performance

Shares of STE stock traded down $5.61 during trading hours on Thursday, hitting $220.26. 734,285 shares of the company’s stock were exchanged, compared to its average volume of 439,959. The company has a current ratio of 2.49, a quick ratio of 1.55 and a debt-to-equity ratio of 0.54. STERIS plc has a 12-month low of $173.21 and a 12-month high of $254.00. The business’s 50 day simple moving average is $215.75 and its 200-day simple moving average is $218.43. The company has a market capitalization of $21.76 billion, a PE ratio of 39.83 and a beta of 0.80.

STERIS (NYSE:STEGet Free Report) last issued its earnings results on Wednesday, February 7th. The medical equipment provider reported $2.22 EPS for the quarter, topping the consensus estimate of $2.17 by $0.05. The company had revenue of $1.40 billion for the quarter, compared to the consensus estimate of $1.35 billion. STERIS had a net margin of 10.52% and a return on equity of 13.58%. The firm’s revenue for the quarter was up 14.8% on a year-over-year basis. During the same period in the previous year, the firm earned $2.02 earnings per share. On average, equities research analysts anticipate that STERIS plc will post 8.66 earnings per share for the current year.

STERIS Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 22nd. Investors of record on Friday, February 23rd will be issued a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 0.94%. The ex-dividend date of this dividend is Thursday, February 22nd. STERIS’s dividend payout ratio (DPR) is currently 37.61%.

About STERIS

(Free Report)

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.

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Institutional Ownership by Quarter for STERIS (NYSE:STE)

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