OMERS ADMINISTRATION Corp Raises Holdings in STERIS plc (NYSE:STE)

OMERS ADMINISTRATION Corp raised its holdings in shares of STERIS plc (NYSE:STE) by 20.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 4,131 shares of the medical equipment provider’s stock after purchasing an additional 702 shares during the period. OMERS ADMINISTRATION Corp’s holdings in STERIS were worth $849,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. boosted its stake in STERIS by 30.8% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 10,970 shares of the medical equipment provider’s stock valued at $2,275,000 after purchasing an additional 2,583 shares during the last quarter. Merit Financial Group LLC purchased a new stake in STERIS during the 4th quarter valued at $260,000. Blue Trust Inc. boosted its stake in STERIS by 19.9% during the 4th quarter. Blue Trust Inc. now owns 1,128 shares of the medical equipment provider’s stock valued at $232,000 after purchasing an additional 187 shares during the last quarter. Entropy Technologies LP purchased a new stake in STERIS during the 4th quarter valued at $924,000. Finally, Park Avenue Securities LLC boosted its stake in STERIS by 5.6% during the 4th quarter. Park Avenue Securities LLC now owns 2,369 shares of the medical equipment provider’s stock valued at $487,000 after purchasing an additional 126 shares during the last quarter. 94.69% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have commented on STE. Stephens reiterated an “overweight” rating and set a $250.00 target price on shares of STERIS in a research note on Thursday. Piper Sandler increased their price target on STERIS from $260.00 to $265.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Needham & Company LLC reissued a “hold” rating on shares of STERIS in a report on Monday, April 7th. Finally, JMP Securities increased their price target on STERIS from $265.00 to $280.00 and gave the company a “market outperform” rating in a report on Friday. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, STERIS has a consensus rating of “Moderate Buy” and an average price target of $265.00.

STERIS Price Performance

NYSE STE opened at $252.12 on Friday. STERIS plc has a 1-year low of $200.98 and a 1-year high of $252.20. The business’s fifty day moving average price is $224.13 and its 200-day moving average price is $219.31. The stock has a market capitalization of $24.77 billion, a price-to-earnings ratio of 53.53 and a beta of 0.96. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.13 and a quick ratio of 1.40.

STERIS (NYSE:STE) last announced its earnings results on Wednesday, May 14th. The medical equipment provider reported $2.74 EPS for the quarter, topping analysts’ consensus estimates of $2.59 by $0.15. STERIS had a return on equity of 13.91% and a net margin of 8.66%. The company had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.47 billion. During the same period last year, the firm earned $2.58 EPS. STERIS’s revenue for the quarter was up 5.7% compared to the same quarter last year. On average, equities analysts predict that STERIS plc will post 9.08 earnings per share for the current year.

STERIS Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 26th. Investors of record on Tuesday, June 10th will be issued a $0.57 dividend. The ex-dividend date of this dividend is Tuesday, June 10th. This represents a $2.28 dividend on an annualized basis and a yield of 0.90%. STERIS’s dividend payout ratio is currently 36.77%.

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.