Corebridge Financial Inc. Sells 1,471 Shares of STERIS plc (NYSE:STE)

Corebridge Financial Inc. reduced its stake in STERIS plc (NYSE:STE) by 5.9% during the fourth quarter, HoldingsChannel.com reports. The fund owned 23,371 shares of the medical equipment provider’s stock after selling 1,471 shares during the quarter. Corebridge Financial Inc.’s holdings in STERIS were worth $4,804,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the stock. Magnolia Capital Advisors LLC grew its position in shares of STERIS by 1.9% during the fourth quarter. Magnolia Capital Advisors LLC now owns 2,534 shares of the medical equipment provider’s stock valued at $521,000 after purchasing an additional 48 shares in the last quarter. SkyView Investment Advisors LLC increased its stake in STERIS by 1.6% in the 3rd quarter. SkyView Investment Advisors LLC now owns 3,153 shares of the medical equipment provider’s stock worth $765,000 after acquiring an additional 51 shares during the last quarter. Park Edge Advisors LLC raised its holdings in shares of STERIS by 1.1% during the 4th quarter. Park Edge Advisors LLC now owns 4,662 shares of the medical equipment provider’s stock worth $958,000 after acquiring an additional 51 shares in the last quarter. Citizens Financial Group Inc. RI boosted its position in shares of STERIS by 5.9% during the 4th quarter. Citizens Financial Group Inc. RI now owns 975 shares of the medical equipment provider’s stock valued at $201,000 after acquiring an additional 54 shares during the last quarter. Finally, Opal Wealth Advisors LLC grew its holdings in shares of STERIS by 5.7% in the fourth quarter. Opal Wealth Advisors LLC now owns 1,118 shares of the medical equipment provider’s stock valued at $230,000 after purchasing an additional 60 shares in the last quarter. Hedge funds and other institutional investors own 94.69% of the company’s stock.

Wall Street Analyst Weigh In

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

STERIS Price Performance

STE stock opened at $222.99 on Friday. The stock has a market cap of $21.91 billion, a PE ratio of 47.34 and a beta of 0.92. STERIS plc has a 12 month low of $197.82 and a 12 month high of $248.24. The company has a 50-day moving average price of $222.51 and a 200 day moving average price of $221.30. The company has a current ratio of 2.13, a quick ratio of 1.40 and a debt-to-equity ratio of 0.32.

STERIS (NYSE:STE) last released 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 net margin of 8.66% and a return on equity of 13.91%. Equities research analysts anticipate that STERIS plc will post 9.08 earnings per share for the current year.

STERIS Dividend Announcement

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

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.