Alta Capital Management LLC Boosts Stock Position in STERIS plc (NYSE:STE)

Alta Capital Management LLC raised its holdings in shares of STERIS plc (NYSE:STE) by 5.8% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,225 shares of the medical equipment provider’s stock after acquiring an additional 67 shares during the quarter. Alta Capital Management LLC’s holdings in STERIS were worth $252,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Charles Schwab Investment Management Inc. boosted its position in shares of STERIS by 3.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 569,837 shares of the medical equipment provider’s stock worth $117,136,000 after acquiring an additional 18,384 shares in the last quarter. Steward Partners Investment Advisory LLC boosted its position in shares of STERIS by 2.3% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 29,925 shares of the medical equipment provider’s stock valued at $6,151,000 after purchasing an additional 683 shares during the period. Fidelis Capital Partners LLC boosted its position in shares of STERIS by 8.9% in the 4th quarter. Fidelis Capital Partners LLC now owns 1,032 shares of the medical equipment provider’s stock valued at $225,000 after purchasing an additional 84 shares during the period. Jones Financial Companies Lllp boosted its position in shares of STERIS by 19.4% in the 4th quarter. Jones Financial Companies Lllp now owns 757 shares of the medical equipment provider’s stock valued at $156,000 after purchasing an additional 123 shares during the period. Finally, Norden Group LLC boosted its position in shares of STERIS by 2.9% in the 4th quarter. Norden Group LLC now owns 4,023 shares of the medical equipment provider’s stock valued at $827,000 after purchasing an additional 115 shares during the period. 94.69% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

STE has been the subject of a number of research analyst reports. Stephens reissued an “overweight” rating and issued a $240.00 target price on shares of STERIS in a research report on Thursday, February 6th. JMP Securities reaffirmed a “market outperform” rating and set a $265.00 price objective on shares of STERIS in a research note on Thursday, February 6th. Needham & Company LLC reaffirmed a “hold” rating on shares of STERIS in a research note on Friday, November 8th. Finally, Piper Sandler increased 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 analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $258.75.

STERIS Stock Performance

Shares of STE stock opened at $222.37 on Tuesday. The company has a market cap of $21.85 billion, a price-to-earnings ratio of 47.21 and a beta of 0.84. 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 stock has a 50 day simple moving average of $215.28 and a 200-day simple moving average of $222.81. STERIS plc has a 12-month low of $197.82 and a 12-month high of $248.24.

STERIS (NYSE:STE) last released its quarterly earnings results on Wednesday, February 5th. The medical equipment provider reported $2.32 earnings per share 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 forecast that STERIS plc will post 9.08 EPS for the current year.

STERIS Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 21st. Investors of record on Thursday, February 20th will be issued a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a dividend yield of 1.03%. The ex-dividend date is 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.