Oppenheimer Asset Management Inc. Sells 632 Shares of STERIS plc (NYSE:STE)

Oppenheimer Asset Management Inc. reduced its stake in STERIS plc (NYSE:STE) by 11.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 4,750 shares of the medical equipment provider’s stock after selling 632 shares during the period. Oppenheimer Asset Management Inc.’s holdings in STERIS were worth $976,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in STE. Franklin Resources Inc. increased its holdings in shares of STERIS by 171.2% in the 3rd quarter. Franklin Resources Inc. now owns 838,569 shares of the medical equipment provider’s stock worth $191,370,000 after buying an additional 529,308 shares during the last quarter. Boston Trust Walden Corp increased its holdings in shares of STERIS by 400.4% in the 4th quarter. Boston Trust Walden Corp now owns 224,741 shares of the medical equipment provider’s stock worth $46,198,000 after buying an additional 179,829 shares during the last quarter. Swedbank AB bought a new stake in shares of STERIS in the 3rd quarter worth about $28,251,000. Benjamin Edwards Inc. increased its holdings in shares of STERIS by 2,123.2% in the 3rd quarter. Benjamin Edwards Inc. now owns 113,672 shares of the medical equipment provider’s stock worth $27,574,000 after buying an additional 108,559 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its stake in shares of STERIS by 9.5% during the 3rd quarter. Principal Financial Group Inc. now owns 1,114,224 shares of the medical equipment provider’s stock worth $270,230,000 after purchasing an additional 96,336 shares during the period. 94.69% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

STE has been the subject of a number of recent analyst reports. JMP Securities reaffirmed a “market outperform” rating and set a $265.00 price target 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. Stephens reaffirmed an “overweight” rating and set a $240.00 price target on shares of STERIS in a research note on Thursday, February 6th. Finally, Piper Sandler lifted their price target on shares of STERIS from $260.00 to $265.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, STERIS has an average rating of “Moderate Buy” and an average target price of $258.75.

STERIS Price Performance

STERIS stock opened at $225.62 on Wednesday. The stock has a market cap of $22.17 billion, a price-to-earnings ratio of 47.90 and a beta of 0.84. 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 1 year low of $197.82 and a 1 year high of $248.24. The firm has a 50-day moving average of $215.62 and a two-hundred day moving average of $222.76.

STERIS (NYSE:STE) last released its quarterly earnings data 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%. On average, research analysts forecast that STERIS plc will post 9.08 earnings per share for the current year.

STERIS Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 21st. Stockholders of record on Thursday, February 20th will be given a $0.57 dividend. The ex-dividend date of this dividend is Thursday, February 20th. This represents a $2.28 annualized dividend and a dividend yield of 1.01%. STERIS’s payout ratio is presently 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.