Federated Hermes Inc. Grows Stock Holdings in STERIS plc (NYSE:STE)

Federated Hermes Inc. raised its holdings in STERIS plc (NYSE:STE) by 0.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 316,889 shares of the medical equipment provider’s stock after acquiring an additional 836 shares during the quarter. Federated Hermes Inc. owned 0.32% of STERIS worth $69,668,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in shares of STERIS by 1.3% during the 1st quarter. Vanguard Group Inc. now owns 11,525,769 shares of the medical equipment provider’s stock valued at $2,786,586,000 after buying an additional 143,253 shares during the last quarter. State Street Corp boosted its stake in STERIS by 0.4% during the 1st quarter. State Street Corp now owns 4,229,089 shares of the medical equipment provider’s stock valued at $1,022,467,000 after acquiring an additional 17,292 shares during the last quarter. Morgan Stanley grew its holdings in STERIS by 70.7% during the 4th quarter. Morgan Stanley now owns 3,756,454 shares of the medical equipment provider’s stock worth $693,780,000 after acquiring an additional 1,556,136 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of STERIS by 4.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,364,283 shares of the medical equipment provider’s stock worth $436,660,000 after purchasing an additional 107,474 shares during the last quarter. Finally, Bank of America Corp DE raised its stake in shares of STERIS by 4.5% in the 1st quarter. Bank of America Corp DE now owns 1,295,162 shares of the medical equipment provider’s stock valued at $247,739,000 after purchasing an additional 55,566 shares in the last quarter. Institutional investors and hedge funds own 94.69% of the company’s stock.

STERIS Price Performance

Shares of STE opened at $200.71 on Friday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.49 and a current ratio of 2.43. The stock has a 50 day simple moving average of $224.20 and a 200 day simple moving average of $217.59. The firm has a market capitalization of $19.83 billion, a PE ratio of 35.15 and a beta of 0.79. STERIS plc has a 52-week low of $180.54 and a 52-week high of $254.00.

STERIS (NYSE:STE) last posted its quarterly earnings results on Wednesday, February 7th. The medical equipment provider reported $2.22 earnings per share for the quarter, beating analysts’ consensus estimates 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 return on equity of 13.67% and a net margin of 10.48%. The firm’s revenue for the quarter was up 14.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.02 EPS. Sell-side analysts predict that STERIS plc will post 8.67 EPS for the current fiscal year.

STERIS Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 22nd. Shareholders of record on Friday, February 23rd were issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 1.04%. The ex-dividend date of this dividend was Thursday, February 22nd. STERIS’s dividend payout ratio is 36.43%.

Analysts Set New Price Targets

STE has been the subject of several research analyst reports. KeyCorp started coverage on STERIS in a report on Tuesday, February 6th. They issued an “overweight” rating and a $253.00 price objective for the company. JMP Securities reiterated a “market outperform” rating and issued a $265.00 target price on shares of STERIS in a report on Thursday, February 8th. Stephens restated an “overweight” rating and set a $250.00 target price on shares of STERIS in a report on Friday, February 9th. Needham & Company LLC reaffirmed a “hold” rating on shares of STERIS in a report on Friday, April 12th. Finally, TheStreet raised STERIS from a “c+” rating to a “b” rating in a research note on Wednesday, February 7th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $239.60.

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.