M&G Investment Management Ltd. Purchases New Holdings in STERIS plc (NYSE:STE)

Posted by Defense World Staff on Jan 16th, 2023

M&G Investment Management Ltd. purchased a new stake in STERIS plc (NYSE:STE – Get Rating) during the third quarter, according to its most recent disclosure with the SEC. The firm purchased 1,736 shares of the medical equipment provider’s stock, valued at approximately $288,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of STE. Invesco Ltd. lifted its stake in STERIS by 89.8% in the 1st quarter. Invesco Ltd. now owns 953,983 shares of the medical equipment provider’s stock worth $230,645,000 after purchasing an additional 451,235 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its stake in STERIS by 586.9% in the 3rd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 389,917 shares of the medical equipment provider’s stock worth $64,835,000 after purchasing an additional 333,153 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its stake in STERIS by 5.4% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 4,598,458 shares of the medical equipment provider’s stock worth $947,972,000 after purchasing an additional 235,311 shares in the last quarter. Baird Financial Group Inc. lifted its stake in STERIS by 1,710.0% in the 2nd quarter. Baird Financial Group Inc. now owns 233,164 shares of the medical equipment provider’s stock worth $48,067,000 after purchasing an additional 220,282 shares in the last quarter. Finally, Eagle Asset Management Inc. purchased a new position in STERIS in the 2nd quarter worth approximately $42,783,000. 92.35% of the stock is owned by hedge funds and other institutional investors.

STERIS Stock Performance

Shares of NYSE STE opened at $202.03 on Monday. The company has a 50 day simple moving average of $182.86 and a 200-day simple moving average of $190.25. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.42 and a current ratio of 2.16. STERIS plc has a 1 year low of $159.21 and a 1 year high of $255.93.

STERIS (NYSE:STE – Get Rating) last announced its quarterly earnings results on Wednesday, November 9th. The medical equipment provider reported $1.99 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.00 by ($0.01). STERIS had a positive return on equity of 12.75% and a negative net margin of 0.17%. The firm had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.22 billion. During the same quarter in the prior year, the business earned $1.99 EPS. The firm’s quarterly revenue was up .3% on a year-over-year basis. On average, analysts anticipate that STERIS plc will post 8.44 EPS for the current year.

STERIS Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 16th. Investors of record on Tuesday, November 22nd were issued a $0.47 dividend. The ex-dividend date of this dividend was Monday, November 21st. This represents a $1.88 annualized dividend and a yield of 0.93%. STERIS’s dividend payout ratio (DPR) is presently -1,708.94%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on STE. StockNews.com raised shares of STERIS from a “hold” rating to a “buy” rating in a research note on Thursday, January 5th. Needham & Company LLC lowered shares of STERIS from a “buy” rating to a “hold” rating in a research note on Friday, September 23rd. Finally, KeyCorp decreased their target price on shares of STERIS from $240.00 to $210.00 and set an “overweight” rating on the stock in a research note on Friday, November 11th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, STERIS has a consensus rating of “Moderate Buy” and a consensus price target of $242.40.

STERIS Profile

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STERIS plc provides infection prevention and other procedural 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; accessories for gastrointestinal (GI) procedures, 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.