Norges Bank acquired a new position in shares of STERIS plc (NYSE:STE – Free Report) in the 4th quarter, HoldingsChannel.com reports. The fund acquired 1,263,402 shares of the medical equipment provider’s stock, valued at approximately $320,298,000.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Board of the Pension Protection Fund acquired a new position in STERIS during the fourth quarter worth $25,000. Activest Wealth Management raised its holdings in STERIS by 423.8% during the fourth quarter. Activest Wealth Management now owns 110 shares of the medical equipment provider’s stock worth $28,000 after purchasing an additional 89 shares during the last quarter. Harbor Investment Advisory LLC raised its holdings in STERIS by 115.4% during the fourth quarter. Harbor Investment Advisory LLC now owns 112 shares of the medical equipment provider’s stock worth $28,000 after purchasing an additional 60 shares during the last quarter. Cornerstone Planning Group LLC raised its holdings in STERIS by 342.3% during the fourth quarter. Cornerstone Planning Group LLC now owns 115 shares of the medical equipment provider’s stock worth $30,000 after purchasing an additional 89 shares during the last quarter. Finally, Geneos Wealth Management Inc. raised its holdings in STERIS by 416.0% during the first quarter. Geneos Wealth Management Inc. now owns 129 shares of the medical equipment provider’s stock worth $29,000 after purchasing an additional 104 shares during the last quarter. 94.69% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several equities analysts recently issued reports on the company. KeyCorp reduced their price objective on STERIS from $291.00 to $269.00 and set an “overweight” rating for the company in a report on Wednesday, May 13th. Piper Sandler reaffirmed an “overweight” rating and set a $270.00 price objective on shares of STERIS in a report on Thursday, May 21st. Wall Street Zen raised STERIS from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 16th. Finally, Weiss Ratings cut STERIS from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, May 27th. Three analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $278.00.
Insider Buying and Selling
In related news, Director Cynthia L. Feldmann sold 3,098 shares of the company’s stock in a transaction on Thursday, March 5th. The stock was sold at an average price of $237.21, for a total value of $734,876.58. Following the completion of the transaction, the director directly owned 705 shares in the company, valued at approximately $167,233.05. This represents a 81.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 1.07% of the company’s stock.
STERIS Stock Performance
NYSE STE opened at $210.80 on Tuesday. STERIS plc has a fifty-two week low of $195.14 and a fifty-two week high of $269.44. The stock has a market cap of $20.67 billion, a price-to-earnings ratio of 26.58 and a beta of 0.93. The business has a fifty day moving average of $218.10 and a 200-day moving average of $240.37. The company has a quick ratio of 1.54, a current ratio of 2.09 and a debt-to-equity ratio of 0.25.
STERIS (NYSE:STE – Get Free Report) last released its quarterly earnings results on Monday, May 11th. The medical equipment provider reported $2.83 earnings per share for the quarter, missing analysts’ consensus estimates of $2.86 by ($0.03). The company had revenue of $1.59 billion during the quarter, compared to analyst estimates of $1.59 billion. STERIS had a return on equity of 14.15% and a net margin of 13.18%.The business’s revenue was up 6.7% compared to the same quarter last year. During the same period last year, the firm earned $2.74 earnings per share. STERIS has set its FY 2027 guidance at 11.100-11.300 EPS. As a group, analysts predict that STERIS plc will post 11.18 earnings per share for the current fiscal year.
STERIS Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, June 26th. Investors of record on Monday, June 8th will be paid a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 1.2%. The ex-dividend date is Monday, June 8th. STERIS’s dividend payout ratio is presently 31.78%.
STERIS Profile
STERIS Corporation (NYSE: STE) is a global provider of infection prevention, contamination control and procedural products and services for the healthcare, life sciences, pharmaceutical and medical device industries. The company develops, manufactures and supports a broad portfolio of equipment and consumables designed to reduce risk of infection, maintain sterile environments and support critical clinical and manufacturing procedures.
Its offerings include sterilization and decontamination systems, instrument washers and washers-disinfectors, endoscope reprocessing solutions, surgical equipment and procedural disposables, and contamination-control products for cleanrooms and laboratories.
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