Sumitomo Mitsui Trust Group Inc. Grows Stock Position in STERIS plc (NYSE:STE)

Sumitomo Mitsui Trust Group Inc. lifted its holdings in STERIS plc (NYSE:STE) by 0.6% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 222,260 shares of the medical equipment provider’s stock after purchasing an additional 1,394 shares during the period. Sumitomo Mitsui Trust Group Inc. owned about 0.23% of STERIS worth $45,688,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the business. Geode Capital Management LLC boosted its stake in shares of STERIS by 0.7% during the 3rd quarter. Geode Capital Management LLC now owns 2,303,625 shares of the medical equipment provider’s stock worth $556,786,000 after acquiring an additional 17,007 shares during the last quarter. Principal Financial Group Inc. lifted its position in 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 in the last quarter. Franklin Resources Inc. grew its holdings in 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 STERIS by 1.5% in the third quarter. Raymond James & Associates now owns 801,144 shares of the medical equipment provider’s stock worth $194,309,000 after buying an additional 12,005 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of 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 worth $133,749,000 after buying an additional 6,334 shares during the period. 94.69% of the stock is currently owned by institutional investors.

STERIS Stock Performance

STE opened at $224.16 on Tuesday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.55 and a current ratio of 2.13. The stock has a market capitalization of $22.13 billion, a price-to-earnings ratio of 47.59 and a beta of 0.84. The company has a fifty day moving average of $212.57 and a 200 day moving average of $224.46. STERIS plc has a fifty-two week low of $197.82 and a fifty-two week high of $248.24.

STERIS (NYSE:STE) last issued its 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%. As a group, sell-side analysts forecast that STERIS plc will post 9.08 earnings per share for the current fiscal year.

STERIS Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 21st. Stockholders of record on Thursday, February 20th will be given a dividend of $0.57 per share. The ex-dividend date is Thursday, February 20th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 1.02%. STERIS’s dividend payout ratio is currently 48.41%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Stephens reiterated an “overweight” rating and set a $240.00 price objective on shares of STERIS in a research note on Thursday, February 6th. JMP Securities reissued a “market outperform” rating and issued a $265.00 price objective on shares of STERIS in a research note on Thursday, February 6th. Needham & Company LLC restated a “hold” rating on shares of STERIS in a research note on Friday, November 8th. StockNews.com lowered STERIS from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, October 29th. Finally, Piper Sandler boosted their price objective on STERIS from $260.00 to $265.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. One analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $258.75.

Insider Activity at STERIS

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

STERIS 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.