HighPoint Advisor Group LLC Makes New Investment in STERIS plc (NYSE:STE)

HighPoint Advisor Group LLC bought a new stake in shares of STERIS plc (NYSE:STE) in the fourth quarter, Holdings Channel reports. The fund bought 901 shares of the medical equipment provider’s stock, valued at approximately $201,000.

Other large investors also recently modified their holdings of the company. Franklin Resources Inc. increased its holdings in STERIS by 45.1% in the 4th quarter. Franklin Resources Inc. now owns 1,216,821 shares of the medical equipment provider’s stock worth $250,130,000 after acquiring an additional 378,252 shares during the last quarter. Wellington Management Group LLP increased its stake in shares of STERIS by 4,534.6% in the fourth quarter. Wellington Management Group LLP now owns 219,032 shares of the medical equipment provider’s stock worth $45,024,000 after purchasing an additional 214,306 shares in the last quarter. CIBC Private Wealth Group LLC raised its position in shares of STERIS by 18.7% in the fourth quarter. CIBC Private Wealth Group LLC now owns 3,851 shares of the medical equipment provider’s stock valued at $807,000 after purchasing an additional 606 shares during the period. RWA Wealth Partners LLC purchased a new stake in shares of STERIS during the 4th quarter valued at approximately $561,000. Finally, Schroder Investment Management Group boosted its holdings in STERIS by 2.7% in the 4th quarter. Schroder Investment Management Group now owns 8,384 shares of the medical equipment provider’s stock worth $1,719,000 after buying an additional 223 shares during the period. Hedge funds and other institutional investors own 94.69% of the company’s stock.

STERIS Stock Performance

NYSE:STE opened at $213.16 on Friday. The stock has a market cap of $20.94 billion, a P/E ratio of 45.26 and a beta of 0.92. The company has a quick ratio of 1.40, a current ratio of 2.13 and a debt-to-equity ratio of 0.32. The business’s 50-day moving average price is $223.23 and its two-hundred day moving average price is $220.72. STERIS plc has a twelve month low of $197.82 and a twelve month high of $248.24.

STERIS (NYSE:STE) last announced its earnings results on Wednesday, February 5th. The medical equipment provider reported $2.32 earnings per share for the quarter, missing analysts’ consensus estimates of $2.33 by ($0.01). STERIS had a net margin of 8.66% and a return on equity of 13.91%. As a group, equities analysts predict that STERIS plc will post 9.08 EPS for the current fiscal year.

STERIS Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Thursday, February 20th were given a $0.57 dividend. The ex-dividend date of this dividend was Thursday, February 20th. This represents a $2.28 annualized dividend and a yield of 1.07%. STERIS’s dividend payout ratio (DPR) is presently 48.41%.

Wall Street Analyst Weigh In

STE has been the topic of a number of analyst reports. Stephens reissued an “overweight” rating and set a $240.00 target price on shares of STERIS in a report on Thursday, February 6th. Piper Sandler boosted their price objective on STERIS from $260.00 to $265.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Finally, JMP Securities restated a “market outperform” rating and issued a $265.00 target price on shares of STERIS in a research note on Thursday, February 6th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $258.75.

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.