Two Sigma Advisers LP Takes Position in STERIS plc (NYSE:STE)

Two Sigma Advisers LP acquired a new stake in STERIS plc (NYSE:STE) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 45,547 shares of the medical equipment provider’s stock, valued at approximately $9,363,000.

Other hedge funds also recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of STERIS by 30.8% in the fourth 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. Merit Financial Group LLC bought a new stake in shares of STERIS in the fourth quarter valued at approximately $260,000. Blue Trust Inc. boosted its position in shares of STERIS by 19.9% in the fourth quarter. Blue Trust Inc. now owns 1,128 shares of the medical equipment provider’s stock valued at $232,000 after acquiring an additional 187 shares during the period. Entropy Technologies LP bought a new stake in shares of STERIS in the fourth quarter valued at approximately $924,000. Finally, Park Avenue Securities LLC boosted its position in shares of STERIS by 5.6% in the fourth quarter. Park Avenue Securities LLC now owns 2,369 shares of the medical equipment provider’s stock valued at $487,000 after acquiring an additional 126 shares during the period. 94.69% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have recently weighed in on STE. Wall Street Zen raised STERIS from a “buy” rating to a “strong-buy” rating in a research report on Thursday. Morgan Stanley increased their price objective on STERIS from $240.00 to $260.00 and gave the stock an “equal weight” rating in a research note on Monday. Piper Sandler increased their price objective on STERIS from $260.00 to $265.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Stephens reiterated an “overweight” rating and set a $250.00 price objective on shares of STERIS in a research note on Thursday, May 15th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of STERIS in a research note on Monday, April 7th. Two research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, STERIS currently has a consensus rating of “Moderate Buy” and a consensus price target of $264.00.

STERIS Stock Performance

STERIS stock opened at $243.61 on Friday. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.13 and a quick ratio of 1.40. The stock has a fifty day moving average price of $225.95 and a two-hundred day moving average price of $220.00. STERIS plc has a 52-week low of $200.98 and a 52-week high of $252.79. The firm has a market capitalization of $23.93 billion, a P/E ratio of 51.72 and a beta of 0.96.

STERIS (NYSE:STE) last announced its earnings results on Wednesday, May 14th. The medical equipment provider reported $2.74 earnings per share for the quarter, beating analysts’ consensus estimates of $2.59 by $0.15. STERIS had a return on equity of 13.91% and a net margin of 8.66%. The company had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.47 billion. During the same period last year, the company posted $2.58 earnings per share. The firm’s quarterly revenue was up 5.7% compared to the same quarter last year. As a group, analysts anticipate that STERIS plc will post 9.08 EPS for the current fiscal year.

STERIS Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 26th. Stockholders of record on Tuesday, June 10th will be paid a $0.57 dividend. The ex-dividend date is Tuesday, June 10th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 0.94%. STERIS’s dividend payout ratio (DPR) is presently 36.77%.

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.