McCollum Christoferson Group LLC Sells 274 Shares of STERIS plc (NYSE:STE)

McCollum Christoferson Group LLC cut its position in shares of STERIS plc (NYSE:STE) by 0.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 32,121 shares of the medical equipment provider’s stock after selling 274 shares during the quarter. STERIS accounts for about 2.0% of McCollum Christoferson Group LLC’s portfolio, making the stock its 25th biggest holding. McCollum Christoferson Group LLC’s holdings in STERIS were worth $6,603,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Franklin Resources Inc. raised its holdings in shares of STERIS by 171.2% in the third quarter. Franklin Resources Inc. now owns 838,569 shares of the medical equipment provider’s stock valued at $191,370,000 after purchasing an additional 529,308 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in STERIS by 30.8% in the fourth 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 in the last quarter. Wilmington Savings Fund Society FSB bought a new position in STERIS in the third quarter valued at $9,949,000. Public Sector Pension Investment Board increased its stake in STERIS by 13.2% in the 3rd quarter. Public Sector Pension Investment Board now owns 4,283 shares of the medical equipment provider’s stock valued at $1,039,000 after buying an additional 500 shares during the last quarter. Finally, Merit Financial Group LLC acquired a new position in shares of STERIS during the 4th quarter worth about $260,000. 94.69% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on STE. Piper Sandler lifted their target price on STERIS from $260.00 to $265.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Stephens reaffirmed an “overweight” rating and set a $240.00 price target on shares of STERIS in a research report on Thursday, February 6th. Finally, JMP Securities reissued a “market outperform” rating and issued a $265.00 price objective 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 issued a buy rating to the company’s stock. According to MarketBeat, STERIS currently has a consensus rating of “Moderate Buy” and an average price target of $258.75.

STERIS Price Performance

NYSE:STE opened at $220.34 on Monday. The company has a quick ratio of 1.40, a current ratio of 2.13 and a debt-to-equity ratio of 0.32. STERIS plc has a 12-month low of $197.82 and a 12-month high of $248.24. The stock’s 50 day moving average price is $221.02 and its two-hundred day moving average price is $221.84. The firm has a market capitalization of $21.65 billion, a price-to-earnings ratio of 46.78 and a beta of 0.92.

STERIS (NYSE:STE) last announced its quarterly earnings results on Wednesday, February 5th. The medical equipment provider reported $2.32 earnings per share (EPS) 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 anticipate 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 was paid on Friday, March 21st. Investors of record on Thursday, February 20th were issued a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a dividend yield of 1.03%. The ex-dividend date was Thursday, February 20th. STERIS’s payout ratio is 48.41%.

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.