Rafferty Asset Management LLC Boosts Holdings in STERIS plc (NYSE:STE)

Rafferty Asset Management LLC grew its position in STERIS plc (NYSE:STE) by 11.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,189 shares of the medical equipment provider’s stock after buying an additional 1,188 shares during the period. Rafferty Asset Management LLC’s holdings in STERIS were worth $2,300,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in STE. Norges Bank purchased a new stake in shares of STERIS in the 4th quarter valued at approximately $238,836,000. Raymond James Financial Inc. acquired a new position in shares of STERIS in the 4th quarter worth approximately $223,987,000. Franklin Resources Inc. lifted its holdings in shares of STERIS by 45.1% in the 4th quarter. Franklin Resources Inc. now owns 1,216,821 shares of the medical equipment provider’s stock worth $250,130,000 after acquiring an additional 378,252 shares during the last quarter. Wellington Management Group LLP lifted its holdings in shares of STERIS by 4,534.6% in the 4th quarter. Wellington Management Group LLP now owns 219,032 shares of the medical equipment provider’s stock worth $45,024,000 after acquiring an additional 214,306 shares during the last quarter. Finally, D. E. Shaw & Co. Inc. acquired a new position in shares of STERIS in the 4th quarter worth approximately $37,243,000. Hedge funds and other institutional investors own 94.69% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Morgan Stanley upped their price objective on shares of STERIS from $240.00 to $260.00 and gave the stock an “equal weight” rating in a report on Monday. Needham & Company LLC restated a “hold” rating on shares of STERIS in a report on Monday, April 7th. Piper Sandler upped their price objective on shares of STERIS from $260.00 to $265.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Citigroup restated an “outperform” rating on shares of STERIS in a report on Friday. Finally, JMP Securities increased their target price on shares of STERIS from $265.00 to $280.00 and gave the stock a “market outperform” rating in a report on Friday. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, STERIS currently has a consensus rating of “Moderate Buy” and a consensus price target of $264.00.

STERIS Price Performance

STERIS stock opened at $252.31 on Tuesday. The firm has a market cap of $24.79 billion, a PE ratio of 53.57 and a beta of 0.96. STERIS plc has a 52-week low of $200.98 and a 52-week high of $252.79. The company has a quick ratio of 1.40, a current ratio of 2.13 and a debt-to-equity ratio of 0.32. The company’s 50 day moving average is $224.69 and its two-hundred day moving average is $219.48.

STERIS (NYSE:STE) last released its earnings results on Wednesday, May 14th. The medical equipment provider reported $2.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.59 by $0.15. STERIS had a net margin of 8.66% and a return on equity of 13.91%. The company had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.47 billion. During the same period in the prior year, the business earned $2.58 EPS. The firm’s quarterly revenue was up 5.7% on a year-over-year basis. On average, research analysts expect that STERIS plc will post 9.08 EPS for the current fiscal year.

STERIS Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 26th. Stockholders of record on Tuesday, June 10th will be issued 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 0.90%. STERIS’s payout ratio is 36.77%.

STERIS 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.