STERIS plc $STE Stock Acquired by Ethic Inc.

Ethic Inc. increased its stake in shares of STERIS plc (NYSE:STE) by 21.5% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,408 shares of the medical equipment provider’s stock after buying an additional 3,612 shares during the quarter. Ethic Inc.’s holdings in STERIS were worth $4,286,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of STE. Western Wealth Management LLC acquired a new position in STERIS during the first quarter worth $25,000. Compass Financial Management LLC bought a new position in shares of STERIS during the third quarter valued at $25,000. Elevation Wealth Partners LLC boosted its stake in shares of STERIS by 1,130.0% in the 2nd quarter. Elevation Wealth Partners LLC now owns 123 shares of the medical equipment provider’s stock valued at $26,000 after purchasing an additional 113 shares in the last quarter. Trust Co. of Vermont acquired a new stake in shares of STERIS in the 2nd quarter valued at $41,000. Finally, Community Financial Services Group LLC boosted its stake in shares of STERIS by 50.0% in the 3rd quarter. Community Financial Services Group LLC now owns 216 shares of the medical equipment provider’s stock valued at $45,000 after purchasing an additional 72 shares in the last quarter. Institutional investors and hedge funds own 94.69% of the company’s stock.

STERIS Trading Up 0.1%

Shares of STE opened at $257.23 on Wednesday. The stock has a fifty day moving average price of $221.55 and a two-hundred day moving average price of $224.67. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.44 and a current ratio of 2.05. STERIS plc has a 52-week low of $195.14 and a 52-week high of $269.44. The company has a market cap of $24.98 billion, a price-to-earnings ratio of 23.59 and a beta of 0.86.

STERIS (NYSE:STE) last posted its quarterly earnings data on Wednesday, November 4th. The medical equipment provider reported $2.94 EPS for the quarter, topping analysts’ consensus estimates of $2.68 by $0.26. The company had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.56 billion. STERIS had a return on equity of 14.80% and a net margin of 13.41%. The business’s revenue was up 8.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.47 earnings per share. Analysts predict that STERIS plc will post 11.46 EPS for the current fiscal year.

STERIS Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 17th. Investors of record on Tuesday, November 17th will be issued a $0.69 dividend. This represents a $2.76 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend is Tuesday, November 17th. STERIS’s payout ratio is currently 32.74%.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on STE shares. Piper Sandler reiterated an “overweight” rating and set a $275.00 target price (up from $270.00) on shares of STERIS in a research report on Friday, August 7th. UBS Group reduced their price target on shares of STERIS from $275.00 to $270.00 and set a “buy” rating on the stock in a research report on Friday, August 7th. Wall Street Zen cut shares of STERIS from a “strong-buy” rating to a “buy” rating in a research note on Sunday, October 11th. KeyCorp upped their price objective on shares of STERIS from $269.00 to $284.00 and gave the stock an “overweight” rating in a research note on Friday, November 6th. Finally, Weiss Ratings raised shares of STERIS from a “hold (c)” rating to a “hold (c+)” rating in a report on Monday. Three equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $276.33.

About STERIS

STERIS plc (NYSE: STE) provides infection prevention and procedural products and services for healthcare, pharmaceutical, research, and other industries. Its offerings include sterilizers, washers and other equipment used to clean and sterilize medical devices and surgical instruments, as well as products for operating rooms and endoscopy procedures. The company also provides equipment installation, maintenance, repair, and training, along with contract sterilization and laboratory testing services.