STERIS plc (NYSE:STE) Position Increased by Harbor Capital Advisors Inc.

Harbor Capital Advisors Inc. increased its stake in shares of STERIS plc (NYSE:STE) by 1.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,342 shares of the medical equipment provider’s stock after buying an additional 146 shares during the quarter. Harbor Capital Advisors Inc.’s holdings in STERIS were worth $1,715,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Ashton Thomas Securities LLC bought a new position in shares of STERIS during the third quarter worth about $25,000. Central Pacific Bank Trust Division bought a new position in STERIS in the 3rd quarter worth about $28,000. Brown Brothers Harriman & Co. increased its stake in shares of STERIS by 154.7% in the second quarter. Brown Brothers Harriman & Co. now owns 191 shares of the medical equipment provider’s stock valued at $42,000 after purchasing an additional 116 shares during the period. Headlands Technologies LLC raised its holdings in shares of STERIS by 76.3% during the second quarter. Headlands Technologies LLC now owns 282 shares of the medical equipment provider’s stock valued at $62,000 after buying an additional 122 shares during the last quarter. Finally, Quarry LP acquired a new position in shares of STERIS during the third quarter worth approximately $67,000. 94.69% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have weighed in on STE shares. Stephens reaffirmed an “overweight” rating and set a $260.00 target price on shares of STERIS in a research note on Thursday, November 7th. Piper Sandler raised shares of STERIS from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $230.00 to $260.00 in a report on Thursday, October 24th. Needham & Company LLC reissued a “hold” rating on shares of STERIS in a research note on Friday, November 8th. JMP Securities reiterated a “market outperform” rating and issued a $265.00 price objective on shares of STERIS in a report on Monday, November 18th. Finally, StockNews.com lowered shares of STERIS from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, October 29th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, STERIS has a consensus rating of “Moderate Buy” and a consensus target price of $262.50.

Insider Buying and Selling at STERIS

In related news, SVP Cary L. Majors sold 1,682 shares of the stock in a transaction on Monday, November 25th. The stock was sold at an average price of $217.32, for a total transaction of $365,532.24. Following the completion of the sale, the senior vice president now directly owns 11,372 shares in the company, valued at approximately $2,471,363.04. This trade represents a 12.88 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.14% of the company’s stock.

STERIS Stock Performance

NYSE:STE opened at $205.85 on Monday. The firm has a market cap of $20.32 billion, a price-to-earnings ratio of 47.00 and a beta of 0.84. The company has a 50-day moving average of $213.53 and a 200-day moving average of $225.17. The company has a current ratio of 2.41, a quick ratio of 1.55 and a debt-to-equity ratio of 0.33. STERIS plc has a twelve month low of $197.82 and a twelve month high of $248.24.

STERIS (NYSE:STE) last announced its quarterly earnings data on Wednesday, November 6th. The medical equipment provider reported $2.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.12 by $0.02. STERIS had a return on equity of 13.78% and a net margin of 8.02%. The firm had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.33 billion. During the same period in the prior year, the business earned $2.03 EPS. The business’s revenue for the quarter was up 7.3% on a year-over-year basis. Analysts forecast that STERIS plc will post 9.1 earnings per share for the current fiscal year.

STERIS Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, December 19th. Shareholders of record on Tuesday, November 19th were given a $0.57 dividend. The ex-dividend date of this dividend was Tuesday, November 19th. This represents a $2.28 dividend on an annualized basis and a yield of 1.11%. STERIS’s payout ratio is 52.05%.

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.