STERIS plc (NYSE:STE) Position Cut by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. reduced its position in shares of STERIS plc (NYSE:STE) by 0.6% in the fourth quarter, HoldingsChannel.com reports. The firm owned 37,685 shares of the medical equipment provider’s stock after selling 246 shares during the period. PNC Financial Services Group Inc.’s holdings in STERIS were worth $7,747,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in STE. Janney Montgomery Scott LLC boosted its stake in STERIS by 3.5% during the 3rd quarter. Janney Montgomery Scott LLC now owns 7,609 shares of the medical equipment provider’s stock valued at $1,846,000 after purchasing an additional 256 shares in the last quarter. QRG Capital Management Inc. bought a new position in STERIS during the 3rd quarter valued at $232,000. Principal Financial Group Inc. boosted its stake in STERIS by 9.5% during the 3rd 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 in the last quarter. Assetmark Inc. boosted its stake in STERIS by 24.6% during the 3rd quarter. Assetmark Inc. now owns 13,410 shares of the medical equipment provider’s stock valued at $3,252,000 after purchasing an additional 2,647 shares in the last quarter. Finally, Legacy Capital Wealth Partners LLC bought a new position in STERIS during the 3rd quarter valued at $206,000. 94.69% of the stock is owned by institutional investors.

Analyst Ratings Changes

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

STERIS Price Performance

Shares of NYSE:STE opened at $228.13 on Wednesday. STERIS plc has a one year low of $197.82 and a one year high of $248.24. The stock has a fifty day moving average of $217.94 and a 200-day moving average of $222.62. The company has a market capitalization of $22.41 billion, a PE ratio of 48.44 and a beta of 0.92. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.40 and a current ratio of 2.13.

STERIS (NYSE:STE) last released its earnings results on Wednesday, February 5th. The medical equipment provider reported $2.32 earnings per share (EPS) 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 anticipate that STERIS plc will post 9.08 EPS for the current fiscal year.

STERIS Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 21st. Stockholders of record on Thursday, February 20th will be issued a $0.57 dividend. The ex-dividend date is Thursday, February 20th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 1.00%. STERIS’s payout ratio is currently 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.