Geode Capital Management LLC Purchases 56,123 Shares of STERIS plc (NYSE:STE)

Geode Capital Management LLC increased its position in STERIS plc (NYSE:STE) by 2.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,359,748 shares of the medical equipment provider’s stock after buying an additional 56,123 shares during the quarter. Geode Capital Management LLC’s holdings in STERIS were worth $483,775,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of STE. Norges Bank bought a new stake in shares of STERIS in the 4th quarter worth approximately $238,836,000. Raymond James Financial Inc. purchased a new position in STERIS in the 4th quarter worth $223,987,000. Franklin Resources Inc. lifted its stake in STERIS by 171.2% in the third quarter. Franklin Resources Inc. now owns 838,569 shares of the medical equipment provider’s stock worth $191,370,000 after purchasing an additional 529,308 shares during the last quarter. Wellington Management Group LLP boosted its position in STERIS by 4,534.6% during the fourth quarter. Wellington Management Group LLP now owns 219,032 shares of the medical equipment provider’s stock valued at $45,024,000 after buying an additional 214,306 shares during the period. Finally, Boston Trust Walden Corp grew its stake in shares of STERIS by 400.4% during the fourth quarter. Boston Trust Walden Corp now owns 224,741 shares of the medical equipment provider’s stock valued at $46,198,000 after buying an additional 179,829 shares during the last quarter. Hedge funds and other institutional investors own 94.69% of the company’s stock.

STERIS Trading Down 2.8 %

NYSE STE opened at $221.25 on Friday. The stock has a market cap of $21.74 billion, a P/E ratio of 46.97 and a beta of 0.92. STERIS plc has a fifty-two week low of $197.82 and a fifty-two week high of $248.24. The stock has a 50 day simple moving average of $223.30 and a two-hundred day simple moving average of $220.93. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.40 and a current ratio of 2.13.

STERIS (NYSE:STE) last released its quarterly 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%. On average, analysts forecast that STERIS plc will post 9.08 earnings per share for the current year.

STERIS Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Thursday, February 20th were paid a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a yield of 1.03%. The ex-dividend date of this dividend was Thursday, February 20th. STERIS’s payout ratio is currently 48.41%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Piper Sandler boosted their target price on STERIS from $260.00 to $265.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Stephens reiterated an “overweight” rating and issued a $240.00 price objective on shares of STERIS in a research report on Thursday, February 6th. Finally, JMP Securities restated a “market outperform” rating and issued a $265.00 target price on shares of STERIS in a report on Thursday, February 6th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus 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.