Xponance Inc. Has $2.87 Million Position in STERIS plc (NYSE:STE)

Xponance Inc. raised its holdings in STERIS plc (NYSE:STE) by 2.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 13,964 shares of the medical equipment provider’s stock after buying an additional 368 shares during the period. Xponance Inc.’s holdings in STERIS were worth $2,870,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Franklin Resources Inc. grew its position in shares of STERIS by 171.2% in the 3rd quarter. Franklin Resources Inc. now owns 838,569 shares of the medical equipment provider’s stock valued at $191,370,000 after acquiring an additional 529,308 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its position in shares of STERIS by 30.8% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 10,970 shares of the medical equipment provider’s stock valued at $2,275,000 after acquiring an additional 2,583 shares during the period. Wilmington Savings Fund Society FSB bought a new position in shares of STERIS in the 3rd quarter valued at about $9,949,000. Public Sector Pension Investment Board grew its position in shares of STERIS by 13.2% in the 3rd quarter. Public Sector Pension Investment Board now owns 4,283 shares of the medical equipment provider’s stock valued at $1,039,000 after acquiring an additional 500 shares during the period. Finally, Merit Financial Group LLC bought a new position in shares of STERIS in the 4th quarter valued at about $260,000. 94.69% of the stock is currently owned by institutional investors and hedge funds.

STERIS Stock Performance

Shares of STE stock opened at $220.34 on Friday. The company has a market capitalization of $21.65 billion, a price-to-earnings ratio of 46.78 and a beta of 0.92. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.40 and a current ratio of 2.13. The company has a 50-day simple moving average of $221.02 and a 200 day simple moving average of $222.12. STERIS plc has a 52 week low of $197.82 and a 52 week high of $248.24.

STERIS (NYSE:STE) last issued its quarterly earnings data on Wednesday, February 5th. The medical equipment provider reported $2.32 earnings per share 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%. On average, sell-side analysts predict that STERIS plc will post 9.08 earnings per share for the current year.

STERIS Announces Dividend

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

Analysts Set New Price Targets

A number of brokerages have recently commented on STE. Piper Sandler lifted their price objective on shares of STERIS from $260.00 to $265.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Stephens reaffirmed an “overweight” rating and set a $240.00 target price on shares of STERIS in a report on Thursday, February 6th. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $265.00 target price on shares of STERIS in a report 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’s stock. According to MarketBeat, STERIS has a consensus rating of “Moderate Buy” and a consensus price target 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.