Norges Bank Invests $238.84 Million in STERIS plc (NYSE:STE)

Norges Bank acquired a new stake in STERIS plc (NYSE:STE) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,161,880 shares of the medical equipment provider’s stock, valued at approximately $238,836,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of STE. Principal Financial Group Inc. raised 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 worth $270,230,000 after acquiring an additional 96,336 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in STERIS by 2.5% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 43,253 shares of the medical equipment provider’s stock valued at $10,491,000 after purchasing an additional 1,053 shares during the period. Public Sector Pension Investment Board raised its holdings in STERIS by 13.2% during the 3rd quarter. Public Sector Pension Investment Board now owns 4,283 shares of the medical equipment provider’s stock worth $1,039,000 after purchasing an additional 500 shares during the last quarter. Aureus Asset Management LLC lifted its position in shares of STERIS by 0.4% in the 3rd quarter. Aureus Asset Management LLC now owns 30,516 shares of the medical equipment provider’s stock worth $7,401,000 after purchasing an additional 116 shares during the period. Finally, Atom Investors LP boosted its stake in shares of STERIS by 37.8% in the 3rd quarter. Atom Investors LP now owns 3,716 shares of the medical equipment provider’s stock valued at $901,000 after purchasing an additional 1,020 shares during the last quarter. 94.69% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

STERIS Trading Down 0.6 %

STE opened at $222.99 on Monday. The company has a fifty day moving average price of $222.51 and a two-hundred day moving average price of $221.15. STERIS plc has a 1-year low of $197.82 and a 1-year high of $248.24. The company has a market cap of $21.91 billion, a P/E ratio of 47.34 and a beta of 0.92. 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 issued 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%. Analysts predict that STERIS plc will post 9.08 EPS for the current fiscal year.

STERIS Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Thursday, February 20th were issued a $0.57 dividend. 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%.

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.