STERIS plc (NYSE:STE) Shares Sold by Russell Investments Group Ltd.

Russell Investments Group Ltd. cut its holdings in shares of STERIS plc (NYSE:STE) by 3.0% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 54,347 shares of the medical equipment provider’s stock after selling 1,657 shares during the period. Russell Investments Group Ltd. owned approximately 0.06% of STERIS worth $11,960,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in STE. Gilliland Jeter Wealth Management LLC purchased a new position in STERIS in the 4th quarter valued at about $896,000. Truist Financial Corp boosted its stake in shares of STERIS by 2.0% in the fourth quarter. Truist Financial Corp now owns 28,364 shares of the medical equipment provider’s stock worth $6,236,000 after acquiring an additional 551 shares during the last quarter. Stevens Capital Management LP purchased a new stake in shares of STERIS during the fourth quarter worth approximately $849,000. Atria Wealth Solutions Inc. raised its stake in STERIS by 3.4% in the 4th quarter. Atria Wealth Solutions Inc. now owns 2,973 shares of the medical equipment provider’s stock valued at $654,000 after purchasing an additional 99 shares during the last quarter. Finally, GAMMA Investing LLC purchased a new position in STERIS in the 4th quarter valued at $110,000. 94.69% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

STERIS Stock Performance

Shares of STERIS stock opened at $207.82 on Friday. The business has a 50-day moving average of $218.46 and a 200 day moving average of $216.13. STERIS plc has a 12 month low of $185.22 and a 12 month high of $254.00. The stock has a market capitalization of $20.53 billion, a price-to-earnings ratio of 36.40 and a beta of 0.81. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.43 and a quick ratio of 1.49.

STERIS (NYSE:STE) last issued its quarterly earnings results on Wednesday, February 7th. The medical equipment provider reported $2.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.17 by $0.05. The business had revenue of $1.40 billion for the quarter, compared to analysts’ expectations of $1.35 billion. STERIS had a net margin of 10.48% and a return on equity of 13.67%. The business’s quarterly revenue was up 14.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.02 earnings per share. As a group, sell-side analysts forecast that STERIS plc will post 8.67 earnings per share for the current 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 paid 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 dividend payout ratio (DPR) is 36.43%.

STERIS 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.