Royal London Asset Management Ltd. Cuts Position in STERIS plc (NYSE:STE)

Royal London Asset Management Ltd. lowered its holdings in shares of STERIS plc (NYSE:STE) by 20.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 560,902 shares of the medical equipment provider’s stock after selling 141,996 shares during the quarter. Royal London Asset Management Ltd.’s holdings in STERIS were worth $115,299,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of STE. Avalon Trust Co acquired a new position in shares of STERIS during the 4th quarter worth approximately $30,000. Human Investing LLC acquired a new position in STERIS during the fourth quarter worth $31,000. Anfield Capital Management LLC lifted its holdings in STERIS by 100.0% during the fourth quarter. Anfield Capital Management LLC now owns 182 shares of the medical equipment provider’s stock valued at $37,000 after purchasing an additional 91 shares in the last quarter. Central Pacific Bank Trust Division grew its position in shares of STERIS by 65.5% in the fourth quarter. Central Pacific Bank Trust Division now owns 192 shares of the medical equipment provider’s stock valued at $39,000 after purchasing an additional 76 shares during the period. Finally, Manchester Capital Management LLC increased its stake in shares of STERIS by 182.7% during the fourth quarter. Manchester Capital Management LLC now owns 212 shares of the medical equipment provider’s stock worth $44,000 after purchasing an additional 137 shares in the last quarter. 94.69% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. JMP Securities reiterated a “market outperform” rating and issued a $265.00 price objective on shares of STERIS in a report on Thursday, February 6th. Stephens reaffirmed an “overweight” rating and issued a $240.00 price target on shares of STERIS in a research note on Thursday, February 6th. Finally, Piper Sandler increased 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. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $258.75.

STERIS Stock Down 1.3 %

Shares of STE opened at $225.44 on Thursday. 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 stock has a fifty day simple moving average of $220.41 and a two-hundred day simple moving average of $222.24. The company has a market capitalization of $22.15 billion, a PE ratio of 47.86 and a beta of 0.92.

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

STERIS Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Thursday, February 20th will be paid a dividend of $0.57 per share. The ex-dividend date of this dividend is Thursday, February 20th. This represents a $2.28 annualized dividend and a yield of 1.01%. STERIS’s dividend payout ratio (DPR) is 48.41%.

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.