Farther Finance Advisors LLC Trims Position in STERIS plc (NYSE:STE)

Farther Finance Advisors LLC lessened its holdings in shares of STERIS plc (NYSE:STE) by 19.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,298 shares of the medical equipment provider’s stock after selling 572 shares during the quarter. Farther Finance Advisors LLC’s holdings in STERIS were worth $472,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the company. Raymond James Financial Inc. acquired a new position in STERIS in the fourth quarter valued at $223,987,000. 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 acquiring an additional 529,308 shares during the last quarter. Boston Trust Walden Corp boosted its holdings in STERIS by 400.4% in 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 last quarter. Swedbank AB acquired a new position in STERIS in the third quarter valued at $28,251,000. Finally, Benjamin Edwards Inc. boosted its holdings in STERIS by 2,123.2% in the third quarter. Benjamin Edwards Inc. now owns 113,672 shares of the medical equipment provider’s stock valued at $27,574,000 after acquiring an additional 108,559 shares during the last quarter. 94.69% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

STE has been the topic of a number of research analyst reports. Piper Sandler lifted 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 reiterated a “market outperform” rating and issued a $265.00 target price on shares of STERIS in a report on Thursday, February 6th. Finally, Stephens reissued an “overweight” rating and issued a $240.00 price objective on shares of STERIS in a research report on Thursday, February 6th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $258.75.

STERIS Trading Up 2.1 %

NYSE:STE opened at $227.04 on Monday. The business’s 50-day moving average is $219.17 and its two-hundred day moving average is $222.38. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.13 and a quick ratio of 1.40. STERIS plc has a 12 month low of $197.82 and a 12 month high of $248.24. The firm has a market capitalization of $22.31 billion, a PE ratio of 48.20 and a beta of 0.92.

STERIS (NYSE:STE) last released its quarterly earnings data on Wednesday, February 5th. The medical equipment provider reported $2.32 EPS for the quarter, missing the consensus estimate of $2.33 by ($0.01). STERIS had a net margin of 8.66% and a return on equity of 13.91%. Research analysts predict that STERIS plc will post 9.08 earnings per share for the current fiscal year.

STERIS Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 21st. Stockholders of record on Thursday, February 20th will be given a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 1.00%. The ex-dividend date of this dividend is Thursday, February 20th. STERIS’s payout ratio is 48.41%.

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.