JPMorgan Chase & Co. Sells 32,498 Shares of STERIS plc (NYSE:STE)

JPMorgan Chase & Co. lessened its stake in STERIS plc (NYSE:STE) by 3.2% in the fourth quarter, HoldingsChannel reports. The firm owned 983,698 shares of the medical equipment provider’s stock after selling 32,498 shares during the period. JPMorgan Chase & Co.’s holdings in STERIS were worth $202,209,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in STE. Raymond James Financial Inc. bought a new stake in shares of STERIS in the 4th quarter valued at about $223,987,000. Franklin Resources Inc. raised 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 worth $191,370,000 after purchasing an additional 529,308 shares during the period. Boston Trust Walden Corp raised 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 worth $46,198,000 after purchasing an additional 179,829 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of STERIS by 15.9% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,261,927 shares of the medical equipment provider’s stock worth $257,585,000 after purchasing an additional 172,795 shares in the last quarter. Finally, Benjamin Edwards Inc. grew 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 valued at $27,574,000 after buying an additional 108,559 shares during the period. Institutional investors and hedge funds own 94.69% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on STE shares. JMP Securities reiterated a “market outperform” rating and set a $265.00 target price on shares of STERIS in a report on Thursday, February 6th. Stephens reiterated an “overweight” rating and issued a $240.00 price objective on shares of STERIS in a research report on Thursday, February 6th. Finally, Piper Sandler boosted their target price on STERIS from $260.00 to $265.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $258.75.

STERIS Price Performance

NYSE:STE opened at $227.14 on Tuesday. The company has a market cap of $22.32 billion, a P/E ratio of 48.22 and a beta of 0.92. The firm’s fifty day moving average price is $222.86 and its two-hundred day moving average price is $221.01. STERIS plc has a one year low of $197.82 and a one year high of $248.24. 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 (NYSE:STE) last announced its 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 return on equity of 13.91% and a net margin of 8.66%. Equities analysts expect that STERIS plc will post 9.08 earnings per share for the current year.

STERIS Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Thursday, February 20th were paid a dividend of $0.57 per share. The ex-dividend date was Thursday, February 20th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 1.00%. STERIS’s dividend payout ratio (DPR) is currently 48.41%.

STERIS Company 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.