STERIS plc (NYSE:STE) Shares Acquired by MML Investors Services LLC

Posted by Defense World Staff on Feb 28th, 2023

MML Investors Services LLC raised its stake in shares of STERIS plc (NYSE:STE – Get Rating) by 0.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 12,706 shares of the medical equipment provider’s stock after acquiring an additional 75 shares during the period. MML Investors Services LLC’s holdings in STERIS were worth $2,113,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Sumitomo Mitsui Trust Holdings Inc. increased its position in shares of STERIS by 6.3% during the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 431,406 shares of the medical equipment provider’s stock valued at $71,734,000 after acquiring an additional 25,585 shares during the last quarter. Kentucky Retirement Systems grew its stake in shares of STERIS by 16.4% in the second quarter. Kentucky Retirement Systems now owns 7,431 shares of the medical equipment provider’s stock worth $1,532,000 after acquiring an additional 1,049 shares in the last quarter. Chevy Chase Trust Holdings LLC increased its position in shares of STERIS by 1.0% during the third quarter. Chevy Chase Trust Holdings LLC now owns 61,070 shares of the medical equipment provider’s stock worth $10,155,000 after acquiring an additional 603 shares during the period. Tokio Marine Asset Management Co. Ltd. raised its stake in shares of STERIS by 42.0% in the second quarter. Tokio Marine Asset Management Co. Ltd. now owns 1,633 shares of the medical equipment provider’s stock valued at $337,000 after acquiring an additional 483 shares in the last quarter. Finally, Westpac Banking Corp boosted its holdings in STERIS by 29.7% in the third quarter. Westpac Banking Corp now owns 8,837 shares of the medical equipment provider’s stock valued at $1,469,000 after purchasing an additional 2,021 shares during the period. 92.35% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on STE. Stephens reaffirmed an “overweight” rating and issued a $220.00 price target on shares of STERIS in a research report on Thursday, February 9th. TheStreet upgraded shares of STERIS from a “c” rating to a “b-” rating in a report on Wednesday, February 8th. KeyCorp lowered their target price on shares of STERIS from $240.00 to $210.00 and set an “overweight” rating for the company in a research note on Friday, November 11th. StockNews.com upgraded STERIS from a “hold” rating to a “buy” rating in a research note on Thursday, January 5th. Finally, JMP Securities lowered their price objective on STERIS from $250.00 to $240.00 and set a “market outperform” rating for the company in a research report on Wednesday, February 15th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $232.83.

STERIS Trading Up 1.2 %

STE opened at $188.33 on Tuesday. STERIS plc has a 52 week low of $159.21 and a 52 week high of $255.93. The business’s 50 day moving average is $195.97 and its two-hundred day moving average is $187.59. The company has a quick ratio of 1.61, a current ratio of 2.48 and a debt-to-equity ratio of 0.50.

STERIS (NYSE:STE – Get Rating) last posted its quarterly earnings data on Wednesday, February 8th. The medical equipment provider reported $2.02 earnings per share for the quarter, missing the consensus estimate of $2.19 by ($0.17). The firm had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.27 billion. STERIS had a negative net margin of 0.58% and a positive return on equity of 12.86%. STERIS’s revenue was up .8% compared to the same quarter last year. During the same period in the previous year, the company posted $2.12 earnings per share. Analysts predict that STERIS plc will post 8.05 earnings per share for the current fiscal year.

STERIS Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 23rd. Stockholders of record on Friday, February 24th will be issued a $0.47 dividend. This represents a $1.88 annualized dividend and a dividend yield of 1.00%. The ex-dividend date is Thursday, February 23rd. STERIS’s payout ratio is currently -648.25%.

STERIS Profile

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STERIS Plc engages in the provision of healthcare and life science product and service solutions. It operates through the following segments: Healthcare, Life Sciences, Applied Sterilization Technologies, and Dental. The Healthcare segment provides a comprehensive offering for healthcare providers worldwide, focused on sterile processing departments and procedural centers, such as operating rooms and endoscopy suites.