STERIS plc (NYSE:STE) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp lessened its position in STERIS plc (NYSE:STE) by 2.2% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 621,447 shares of the medical equipment provider’s stock after selling 13,915 shares during the period. Bank of New York Mellon Corp’s holdings in STERIS were worth $127,745,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the company. Geode Capital Management LLC lifted its stake in shares of STERIS by 0.7% in the 3rd quarter. Geode Capital Management LLC now owns 2,303,625 shares of the medical equipment provider’s stock worth $556,786,000 after acquiring an additional 17,007 shares during the period. Principal Financial Group Inc. lifted its stake in shares of STERIS by 0.5% in the 4th quarter. Principal Financial Group Inc. now owns 1,119,643 shares of the medical equipment provider’s stock worth $230,160,000 after acquiring an additional 5,419 shares during the period. Franklin Resources Inc. lifted its stake in shares of STERIS by 171.2% in the 3rd quarter. Franklin Resources Inc. now owns 838,569 shares of the medical equipment provider’s stock worth $191,370,000 after acquiring an additional 529,308 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of STERIS by 1.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 551,453 shares of the medical equipment provider’s stock worth $133,749,000 after acquiring an additional 6,334 shares during the period. Finally, Swiss National Bank lifted its stake in shares of STERIS by 0.3% in the 3rd quarter. Swiss National Bank now owns 293,360 shares of the medical equipment provider’s stock worth $71,152,000 after acquiring an additional 800 shares during the period. Institutional investors and hedge funds own 94.69% of the company’s stock.

STERIS Stock Performance

NYSE:STE opened at $219.23 on Friday. The company has a current ratio of 2.13, a quick ratio of 1.40 and a debt-to-equity ratio of 0.32. The firm has a 50-day moving average price of $214.76 and a two-hundred day moving average price of $223.11. STERIS plc has a twelve month low of $197.82 and a twelve month high of $248.24. The company has a market capitalization of $21.54 billion, a P/E ratio of 46.54 and a beta of 0.84.

STERIS (NYSE:STE) last posted its earnings results on Wednesday, February 5th. The medical equipment provider reported $2.32 earnings per share for the quarter, missing the consensus estimate of $2.33 by ($0.01). STERIS had a net margin of 8.66% and a return on equity of 13.91%. As a group, research analysts expect that STERIS plc will post 9.08 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, March 21st. Shareholders of record on Thursday, February 20th will be issued a dividend of $0.57 per share. The ex-dividend date of this dividend is Thursday, February 20th. This represents a $2.28 annualized dividend and a yield of 1.04%. STERIS’s dividend payout ratio (DPR) is currently 48.41%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on STE shares. Stephens restated an “overweight” rating and issued a $240.00 target price on shares of STERIS in a research note on Thursday, February 6th. Needham & Company LLC reiterated a “hold” rating on shares of STERIS in a research note on Friday, November 8th. Piper Sandler raised 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, JMP Securities reiterated a “market outperform” rating and issued a $265.00 price objective on shares of STERIS in a research note on Thursday, February 6th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, STERIS currently has an average rating of “Moderate 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.