R Squared Ltd Takes Position in STERIS plc (NYSE:STE)

R Squared Ltd acquired a new stake in shares of STERIS plc (NYSE:STE) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 380 shares of the medical equipment provider’s stock, valued at approximately $78,000.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Geode Capital Management LLC increased its position in shares of STERIS by 0.7% during the third quarter. Geode Capital Management LLC now owns 2,303,625 shares of the medical equipment provider’s stock valued at $556,786,000 after purchasing an additional 17,007 shares during the period. Principal Financial Group Inc. increased its position in shares of STERIS by 9.5% during 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 purchasing an additional 96,336 shares during the period. Franklin Resources Inc. increased its position in shares of STERIS by 171.2% during the third quarter. Franklin Resources Inc. now owns 838,569 shares of the medical equipment provider’s stock valued at $191,370,000 after purchasing an additional 529,308 shares during the period. Raymond James & Associates increased its position in shares of STERIS by 1.5% during the third quarter. Raymond James & Associates now owns 801,144 shares of the medical equipment provider’s stock valued at $194,309,000 after purchasing an additional 12,005 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its position in STERIS by 1.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 551,453 shares of the medical equipment provider’s stock valued at $133,749,000 after acquiring an additional 6,334 shares during the period. 94.69% of the stock is currently owned by institutional investors.

Insider Activity

In other news, SVP Cary L. Majors sold 1,682 shares of the company’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $217.32, for a total transaction of $365,532.24. Following the transaction, the senior vice president now owns 11,372 shares of the company’s stock, valued at $2,471,363.04. This represents a 12.88 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 1.14% of the stock is currently owned by insiders.

STERIS Price Performance

Shares of STE stock opened at $220.84 on Friday. The stock’s fifty day moving average is $212.15 and its 200-day moving average is $224.75. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.55 and a current ratio of 2.41. The stock has a market capitalization of $21.80 billion, a PE ratio of 50.42 and a beta of 0.84. STERIS plc has a 52 week low of $197.82 and a 52 week high of $248.24.

STERIS (NYSE:STE) last announced its earnings results on Wednesday, November 6th. The medical equipment provider reported $2.14 EPS for the quarter, topping the consensus estimate of $2.12 by $0.02. STERIS had a return on equity of 13.78% and a net margin of 8.02%. The company had revenue of $1.33 billion for the quarter, compared to analysts’ expectations of $1.33 billion. During the same quarter in the prior year, the business earned $2.03 earnings per share. The business’s revenue for the quarter was up 7.3% on a year-over-year basis. Equities research analysts expect that STERIS plc will post 9.11 EPS for the current fiscal year.

STERIS Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 21st. Stockholders of record on Thursday, February 20th will be paid a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a dividend yield of 1.03%. The ex-dividend date of this dividend is Thursday, February 20th. STERIS’s dividend payout ratio (DPR) is presently 52.05%.

Wall Street Analyst Weigh In

STE has been the topic of a number of analyst reports. Needham & Company LLC reiterated a “hold” rating on shares of STERIS in a research report on Friday, November 8th. Piper Sandler upgraded STERIS from a “neutral” rating to an “overweight” rating and upped their price target for the company from $230.00 to $260.00 in a research report on Thursday, October 24th. Stephens reiterated an “overweight” rating and issued a $260.00 price target on shares of STERIS in a research report on Thursday, November 7th. JMP Securities reiterated a “market outperform” rating and issued a $265.00 price target on shares of STERIS in a research report on Monday, November 18th. Finally, StockNews.com cut STERIS from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, October 29th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $262.50.

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.