Allred Capital Management LLC Acquires New Position in STERIS plc (NYSE:STE)

Allred Capital Management LLC bought a new position in shares of STERIS plc (NYSE:STE) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 2,732 shares of the medical equipment provider’s stock, valued at approximately $562,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Franklin Resources Inc. boosted its holdings in STERIS by 171.2% in the third quarter. Franklin Resources Inc. now owns 838,569 shares of the medical equipment provider’s stock valued at $191,370,000 after purchasing an additional 529,308 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its position in 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 purchasing an additional 2,583 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new position in shares of STERIS in the 3rd quarter valued at about $9,949,000. Merit Financial Group LLC purchased a new position in shares of STERIS in the 4th quarter valued at about $260,000. Finally, Blue Trust Inc. grew its position in shares of STERIS by 19.9% during the fourth quarter. Blue Trust Inc. now owns 1,128 shares of the medical equipment provider’s stock worth $232,000 after buying an additional 187 shares in the last quarter. Hedge funds and other institutional investors own 94.69% of the company’s stock.

Analysts Set New Price Targets

STE has been the topic of several analyst reports. Piper Sandler raised their target price on shares of STERIS from $260.00 to $265.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Stephens reaffirmed an “overweight” rating and set a $240.00 price objective on shares of STERIS in a research report on Thursday, February 6th. Needham & Company LLC reiterated a “hold” rating on shares of STERIS in a research note on Monday, April 7th. Finally, JMP Securities restated a “market outperform” rating and issued a $265.00 price target on shares of STERIS in a research note on Thursday, April 10th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $258.75.

STERIS Stock Up 1.1 %

Shares of NYSE:STE opened at $222.53 on Friday. The firm has a 50 day simple moving average of $222.50 and a 200-day simple moving average of $219.28. STERIS plc has a twelve month low of $197.84 and a twelve month high of $248.24. 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 company has a market capitalization of $21.86 billion, a PE ratio of 47.25 and a beta of 0.87.

STERIS (NYSE:STE) last announced its earnings results 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 return on equity of 13.91% and a net margin of 8.66%. On average, equities analysts predict that STERIS plc will post 9.08 EPS for the current fiscal 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. The ex-dividend date of this dividend was Thursday, February 20th. This represents a $2.28 dividend on an annualized basis and a yield of 1.02%. STERIS’s dividend payout ratio is presently 48.41%.

STERIS Company 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.