Frontier Capital Management Co. LLC Reduces Stock Holdings in STERIS plc (NYSE:STE)

Frontier Capital Management Co. LLC lowered its holdings in shares of STERIS plc (NYSE:STE) by 5.4% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 235,093 shares of the medical equipment provider’s stock after selling 13,414 shares during the quarter. Frontier Capital Management Co. LLC owned approximately 0.24% of STERIS worth $48,326,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Avalon Trust Co bought a new position in shares of STERIS in the fourth quarter worth about $30,000. Human Investing LLC bought a new position in shares of STERIS in the fourth quarter worth approximately $31,000. Anfield Capital Management LLC increased its stake in shares of STERIS by 100.0% in the fourth quarter. Anfield Capital Management LLC now owns 182 shares of the medical equipment provider’s stock worth $37,000 after purchasing an additional 91 shares in the last quarter. Manchester Capital Management LLC grew its position in shares of STERIS by 182.7% during the fourth quarter. Manchester Capital Management LLC now owns 212 shares of the medical equipment provider’s stock worth $44,000 after purchasing an additional 137 shares in the last quarter. Finally, Brown Brothers Harriman & Co. grew its holdings in STERIS by 66.7% during the 4th quarter. Brown Brothers Harriman & Co. now owns 220 shares of the medical equipment provider’s stock valued at $45,000 after buying an additional 88 shares in the last quarter. Institutional investors own 94.69% of the company’s stock.

STERIS Trading Up 1.3 %

STE stock opened at $225.41 on Thursday. 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 company has a market capitalization of $22.15 billion, a PE ratio of 47.86 and a beta of 0.96. The firm’s 50-day moving average is $223.31 and its 200 day moving average is $218.83. STERIS plc has a 12 month low of $200.98 and a 12 month high of $248.24.

STERIS (NYSE:STE) last released 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 return on equity of 13.91% and a net margin of 8.66%. On average, research analysts anticipate that STERIS plc will post 9.08 EPS for the current year.

STERIS Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 26th. Investors of record on Tuesday, June 10th will be given a $0.57 dividend. This represents a $2.28 annualized dividend and a dividend yield of 1.01%. STERIS’s payout ratio is currently 48.41%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on STE shares. Needham & Company LLC restated a “hold” rating on shares of STERIS in a report on Monday, April 7th. JMP Securities reaffirmed a “market outperform” rating and issued a $265.00 price target on shares of STERIS in a report on Thursday, April 10th. Piper Sandler lifted their price target on STERIS from $260.00 to $265.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Finally, Stephens raised STERIS to a “strong-buy” rating in a research note on Thursday, May 1st. One analyst has rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target 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.