Bancreek Capital Management LP Sells 27,697 Shares of STERIS plc (NYSE:STE)

Bancreek Capital Management LP lowered its stake in shares of STERIS plc (NYSE:STE) by 86.4% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,350 shares of the medical equipment provider’s stock after selling 27,697 shares during the quarter. STERIS comprises 0.9% of Bancreek Capital Management LP’s portfolio, making the stock its 19th largest holding. Bancreek Capital Management LP’s holdings in STERIS were worth $894,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Raymond James Financial Inc. bought a new stake in shares of STERIS during the 4th quarter worth $223,987,000. Franklin Resources Inc. lifted its position in STERIS by 171.2% during the 3rd quarter. Franklin Resources Inc. now owns 838,569 shares of the medical equipment provider’s stock worth $191,370,000 after acquiring an additional 529,308 shares during the last quarter. Boston Trust Walden Corp boosted its holdings in STERIS by 400.4% during the fourth quarter. Boston Trust Walden Corp now owns 224,741 shares of the medical equipment provider’s stock valued at $46,198,000 after acquiring an additional 179,829 shares during the period. Swedbank AB acquired a new stake in shares of STERIS in the third quarter valued at about $28,251,000. Finally, Benjamin Edwards Inc. increased its stake in shares of STERIS by 2,123.2% in the third quarter. Benjamin Edwards Inc. now owns 113,672 shares of the medical equipment provider’s stock worth $27,574,000 after purchasing an additional 108,559 shares during the period. Institutional investors and hedge funds own 94.69% of the company’s stock.

STERIS Stock Performance

Shares of NYSE STE opened at $220.34 on Friday. The firm has a market capitalization of $21.65 billion, a price-to-earnings ratio of 46.78 and a beta of 0.92. STERIS plc has a one year low of $197.82 and a one year high of $248.24. The business has a fifty day simple moving average of $221.02 and a 200 day simple moving average of $222.12. 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 announced its quarterly earnings data 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%. Sell-side analysts expect that STERIS plc will post 9.08 EPS for the current year.

STERIS Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Thursday, February 20th were issued a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a yield of 1.03%. The ex-dividend date was Thursday, February 20th. STERIS’s payout ratio is 48.41%.

Analyst Ratings Changes

Several analysts recently weighed in on STE shares. Piper Sandler raised their target price on STERIS from $260.00 to $265.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. JMP Securities restated a “market outperform” rating and issued a $265.00 price objective on shares of STERIS in a research note on Thursday, February 6th. Finally, Stephens reiterated an “overweight” rating and set a $240.00 target price on shares of STERIS in a research note on Thursday, February 6th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently 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.