STERIS plc (NYSE:STE) Shares Acquired by Nuveen Asset Management LLC

Nuveen Asset Management LLC boosted its position in STERIS plc (NYSE:STE) by 2.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 362,440 shares of the medical equipment provider’s stock after purchasing an additional 8,570 shares during the period. Nuveen Asset Management LLC owned approximately 0.37% of STERIS worth $74,503,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Geode Capital Management LLC lifted its position in STERIS by 2.4% in the fourth quarter. Geode Capital Management LLC now owns 2,359,748 shares of the medical equipment provider’s stock worth $483,775,000 after purchasing an additional 56,123 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in STERIS by 15.9% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,261,927 shares of the medical equipment provider’s stock worth $257,585,000 after purchasing an additional 172,795 shares during the period. Franklin Resources Inc. lifted its position in STERIS by 45.1% in the fourth quarter. Franklin Resources Inc. now owns 1,216,821 shares of the medical equipment provider’s stock worth $250,130,000 after purchasing an additional 378,252 shares during the period. Northern Trust Corp lifted its position in STERIS by 7.4% in the fourth quarter. Northern Trust Corp now owns 1,213,037 shares of the medical equipment provider’s stock worth $249,352,000 after purchasing an additional 83,601 shares during the period. Finally, Norges Bank acquired a new stake in STERIS in the fourth quarter worth approximately $238,836,000. 94.69% of the stock is currently owned by institutional investors and hedge funds.

STERIS Price Performance

NYSE STE opened at $252.12 on Friday. The stock has a market capitalization of $24.77 billion, a P/E ratio of 53.53 and a beta of 0.96. STERIS plc has a 1 year low of $200.98 and a 1 year high of $252.20. The business’s fifty day moving average is $224.13 and its two-hundred day moving average is $219.31. 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 posted its quarterly earnings results on Wednesday, May 14th. The medical equipment provider reported $2.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.59 by $0.15. STERIS had a return on equity of 13.91% and a net margin of 8.66%. The company had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.47 billion. During the same quarter in the prior year, the company earned $2.58 earnings per share. The firm’s revenue was up 5.7% on a year-over-year basis. On average, research analysts forecast that STERIS plc will post 9.08 earnings per share for the current fiscal year.

STERIS Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 26th. Shareholders of record on Tuesday, June 10th will be paid a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a yield of 0.90%. The ex-dividend date is Tuesday, June 10th. STERIS’s dividend payout ratio (DPR) is currently 36.77%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Needham & Company LLC restated a “hold” rating on shares of STERIS in a research report on Monday, April 7th. Piper Sandler upped their price target on STERIS from $260.00 to $265.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Stephens reaffirmed an “overweight” rating and issued a $250.00 price target on shares of STERIS in a report on Thursday. Finally, JMP Securities upped their price target on STERIS from $265.00 to $280.00 and gave the company a “market outperform” rating in a report on Friday. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, STERIS currently has an average rating of “Moderate Buy” and a consensus target price of $265.00.

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.