Proficio Capital Partners LLC Purchases New Position in STERIS plc (NYSE:STE)

Proficio Capital Partners LLC bought a new position in shares of STERIS plc (NYSE:STE) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 48,136 shares of the medical equipment provider’s stock, valued at approximately $9,895,000.

Other hedge funds also recently bought and sold shares of the company. Franklin Resources Inc. lifted 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 worth $191,370,000 after buying an additional 529,308 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its holdings in STERIS by 30.8% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 10,970 shares of the medical equipment provider’s stock worth $2,275,000 after buying an additional 2,583 shares during the period. KBC Group NV lifted its holdings in STERIS by 52.0% during the third quarter. KBC Group NV now owns 12,071 shares of the medical equipment provider’s stock worth $2,928,000 after buying an additional 4,132 shares during the period. Wilmington Savings Fund Society FSB purchased a new stake in STERIS during the third quarter worth $9,949,000. Finally, Public Sector Pension Investment Board lifted its holdings in STERIS by 13.2% during the third quarter. Public Sector Pension Investment Board now owns 4,283 shares of the medical equipment provider’s stock worth $1,039,000 after buying an additional 500 shares during the period. Hedge funds and other institutional investors own 94.69% of the company’s stock.

STERIS Stock Performance

Shares of STE opened at $227.04 on Friday. The company has a current ratio of 2.13, a quick ratio of 1.40 and a debt-to-equity ratio of 0.32. The stock has a fifty day moving average price of $219.17 and a 200-day moving average price of $222.48. STERIS plc has a 12 month low of $197.82 and a 12 month high of $248.24. The firm has a market cap of $22.31 billion, a PE ratio of 48.20 and a beta of 0.92.

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 the consensus estimate of $2.33 by ($0.01). STERIS had a net margin of 8.66% and a return on equity of 13.91%. Equities research analysts predict 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. Investors of record on Thursday, February 20th will be given a $0.57 dividend. This represents a $2.28 annualized dividend and a dividend yield of 1.00%. The ex-dividend date is Thursday, February 20th. STERIS’s payout ratio is 48.41%.

Analyst Upgrades and Downgrades

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

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.