Lake Street Advisors Group LLC Boosts Holdings in STERIS plc (NYSE:STE)

Lake Street Advisors Group LLC grew its stake in shares of STERIS plc (NYSE:STE) by 4.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,709 shares of the medical equipment provider’s stock after acquiring an additional 71 shares during the quarter. Lake Street Advisors Group LLC’s holdings in STERIS were worth $351,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Franklin Resources Inc. increased its position in STERIS by 171.2% during the third quarter. Franklin Resources Inc. now owns 838,569 shares of the medical equipment provider’s stock worth $191,370,000 after purchasing an additional 529,308 shares during the last quarter. Boston Trust Walden Corp grew its stake in shares of STERIS by 400.4% during the 4th quarter. Boston Trust Walden Corp now owns 224,741 shares of the medical equipment provider’s stock valued at $46,198,000 after buying an additional 179,829 shares during the period. Swedbank AB acquired a new stake in shares of STERIS during the 3rd quarter worth $28,251,000. Benjamin Edwards Inc. raised its position in shares of STERIS by 2,123.2% in the 3rd quarter. Benjamin Edwards Inc. now owns 113,672 shares of the medical equipment provider’s stock worth $27,574,000 after buying an additional 108,559 shares during the period. Finally, Principal Financial Group Inc. boosted its holdings in STERIS by 9.5% in the third quarter. Principal Financial Group Inc. now owns 1,114,224 shares of the medical equipment provider’s stock valued at $270,230,000 after acquiring an additional 96,336 shares during the last quarter. 94.69% of the stock is currently owned by hedge funds and other institutional investors.

STERIS Trading Down 1.4 %

STE opened at $219.89 on Friday. The firm’s 50 day moving average is $214.45 and its 200-day moving average is $223.13. STERIS plc has a 52-week low of $197.82 and a 52-week high of $248.24. 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 firm has a market capitalization of $21.60 billion, a P/E ratio of 46.69 and a beta of 0.84.

STERIS (NYSE:STE) last released 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 return on equity of 13.91% and a net margin of 8.66%. Analysts expect that STERIS plc will post 9.08 EPS for the current fiscal year.

STERIS Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 21st. Investors of record on Thursday, February 20th will be paid a $0.57 dividend. This represents a $2.28 annualized dividend and a dividend yield of 1.04%. The ex-dividend date is Thursday, February 20th. STERIS’s dividend payout ratio (DPR) is 48.41%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on STE shares. Piper Sandler upped their price target on STERIS from $260.00 to $265.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Stephens restated an “overweight” rating and issued a $240.00 price target on shares of STERIS in a report on Thursday, February 6th. Needham & Company LLC reaffirmed a “hold” rating on shares of STERIS in a research report on Friday, November 8th. Finally, JMP Securities reissued a “market outperform” rating and issued a $265.00 price objective on shares of STERIS in a research 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.com, STERIS has an average rating of “Moderate Buy” and a consensus target price of $258.75.

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.