Ethic Inc. Increases Position in STERIS plc (NYSE:STE)

Ethic Inc. lifted its holdings in shares of STERIS plc (NYSE:STE) by 5.1% during the fourth quarter, HoldingsChannel reports. The firm owned 6,087 shares of the medical equipment provider’s stock after purchasing an additional 297 shares during the quarter. Ethic Inc.’s holdings in STERIS were worth $1,251,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Avalon Trust Co purchased a new stake in shares of STERIS during the 4th quarter worth approximately $30,000. Human Investing LLC bought a new position in STERIS during the fourth quarter valued at $31,000. Anfield Capital Management LLC increased its position in STERIS by 100.0% in the fourth quarter. Anfield Capital Management LLC now owns 182 shares of the medical equipment provider’s stock worth $37,000 after buying an additional 91 shares during the last quarter. Manchester Capital Management LLC increased its holdings in STERIS by 182.7% in the 4th quarter. Manchester Capital Management LLC now owns 212 shares of the medical equipment provider’s stock worth $44,000 after acquiring an additional 137 shares during the last quarter. Finally, Brown Brothers Harriman & Co. increased its holdings in STERIS by 66.7% in the 4th quarter. Brown Brothers Harriman & Co. now owns 220 shares of the medical equipment provider’s stock worth $45,000 after acquiring an additional 88 shares during the last quarter. 94.69% of the stock is currently owned by hedge funds and other institutional investors.

STERIS Trading Down 0.8%

Shares of STERIS stock opened at $231.15 on Wednesday. The company’s 50-day moving average price is $223.50 and its 200-day moving average price is $218.86. The company has a current ratio of 2.13, a quick ratio of 1.40 and a debt-to-equity ratio of 0.32. STERIS plc has a 12-month low of $200.98 and a 12-month high of $248.24. The company has a market cap of $22.71 billion, a price-to-earnings ratio of 49.08 and a beta of 0.96.

STERIS Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 26th. Stockholders of record on Tuesday, June 10th will be given a dividend of $0.57 per share. The ex-dividend date of this dividend is Tuesday, June 10th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 0.99%. STERIS’s dividend payout ratio (DPR) is currently 48.41%.

Analysts Set New Price Targets

Several research firms have commented on STE. Stephens raised shares of STERIS to a “strong-buy” rating in a report on Thursday, May 1st. JMP Securities restated a “market outperform” rating and set a $265.00 price target on shares of STERIS in a research note on Thursday, April 10th. Piper Sandler lifted their price objective on shares of STERIS from $260.00 to $265.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Finally, Needham & Company LLC restated a “hold” rating on shares of STERIS in a research report on Monday, April 7th. One research analyst has rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $258.75.

About STERIS

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.