Pictet Asset Management Holding SA Acquires 33,618 Shares of STERIS plc (NYSE:STE)

Pictet Asset Management Holding SA grew its holdings in STERIS plc (NYSE:STE) by 3.1% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,131,374 shares of the medical equipment provider’s stock after purchasing an additional 33,618 shares during the quarter. Pictet Asset Management Holding SA owned approximately 1.15% of STERIS worth $232,565,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the business. Franklin Resources Inc. boosted 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 valued at $191,370,000 after acquiring an additional 529,308 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised 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 purchasing an additional 2,583 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new position in STERIS during the 3rd quarter valued at approximately $9,949,000. Public Sector Pension Investment Board raised its holdings in shares of STERIS by 13.2% in the third quarter. Public Sector Pension Investment Board now owns 4,283 shares of the medical equipment provider’s stock worth $1,039,000 after buying an additional 500 shares during the last quarter. Finally, Merit Financial Group LLC purchased a new position in shares of STERIS in the fourth quarter worth $260,000. Hedge funds and other institutional investors own 94.69% of the company’s stock.

STERIS Stock Up 0.6 %

STERIS stock opened at $224.35 on Friday. STERIS plc has a 52 week low of $197.82 and a 52 week high of $248.24. The firm has a market cap of $22.04 billion, a price-to-earnings ratio of 47.63 and a beta of 0.92. The business’s 50-day moving average price is $222.24 and its 200 day moving average price is $221.63. The company has a quick ratio of 1.40, a current ratio of 2.13 and a debt-to-equity ratio of 0.32.

STERIS (NYSE:STE) last posted its earnings results on Wednesday, February 5th. The medical equipment provider reported $2.32 earnings per share (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%. As a group, sell-side analysts anticipate that STERIS plc will post 9.08 earnings per share for the current year.

STERIS Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Thursday, February 20th were issued a $0.57 dividend. The ex-dividend date was Thursday, February 20th. This represents a $2.28 dividend on an annualized basis and a yield of 1.02%. STERIS’s payout ratio is 48.41%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on STE shares. Piper Sandler upped their target price on STERIS from $260.00 to $265.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Stephens reissued an “overweight” rating and issued a $240.00 price objective 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 research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $258.75.

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.