KLP Kapitalforvaltning AS Makes New $6.43 Million Investment in STERIS plc (NYSE:STE)

KLP Kapitalforvaltning AS purchased a new stake in STERIS plc (NYSE:STE) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 31,300 shares of the medical equipment provider’s stock, valued at approximately $6,434,000.

A number of other institutional investors have also made changes to their positions in STE. Raymond James Financial Inc. acquired a new stake in STERIS in the 4th quarter valued at approximately $223,987,000. Franklin Resources Inc. boosted its position in shares of 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 period. Boston Trust Walden Corp grew its stake in shares of STERIS by 400.4% in the fourth quarter. Boston Trust Walden Corp now owns 224,741 shares of the medical equipment provider’s stock worth $46,198,000 after acquiring an additional 179,829 shares during the last quarter. Swedbank AB bought a new position in STERIS during the third quarter worth $28,251,000. Finally, Benjamin Edwards Inc. raised its stake in STERIS by 2,123.2% during the 3rd quarter. Benjamin Edwards Inc. now owns 113,672 shares of the medical equipment provider’s stock valued at $27,574,000 after purchasing an additional 108,559 shares during the last quarter. 94.69% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on STE. Stephens restated an “overweight” rating and set a $240.00 price objective on shares of STERIS in a report on Thursday, February 6th. JMP Securities reaffirmed a “market outperform” rating and issued a $265.00 price target on shares of STERIS in a report on Thursday, February 6th. Finally, Piper Sandler raised their price objective on STERIS from $260.00 to $265.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $258.75.

STERIS Stock Down 0.6 %

Shares of STE opened at $221.57 on Wednesday. STERIS plc has a 12 month low of $197.82 and a 12 month high of $248.24. The stock has a market cap of $21.77 billion, a price-to-earnings ratio of 47.04 and a beta of 0.92. The company has a 50-day moving average price of $221.62 and a two-hundred day moving average price of $221.60. 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 announced its quarterly earnings results 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%. Equities analysts predict that STERIS plc will post 9.08 EPS for the current fiscal year.

STERIS Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Thursday, February 20th were given a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 1.03%. The ex-dividend date of this dividend was Thursday, February 20th. STERIS’s dividend payout ratio (DPR) 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.