Robeco Institutional Asset Management B.V. Sells 12,232 Shares of STERIS plc (NYSE:STE)

Posted by Defense World Staff on Mar 22nd, 2023

Robeco Institutional Asset Management B.V. decreased its position in STERIS plc (NYSE:STE – Get Rating) by 58.7% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,592 shares of the medical equipment provider’s stock after selling 12,232 shares during the quarter. Robeco Institutional Asset Management B.V.’s holdings in STERIS were worth $1,429,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in the company. Toroso Investments LLC increased its stake in STERIS by 4.9% in the 3rd quarter. Toroso Investments LLC now owns 2,636 shares of the medical equipment provider’s stock worth $438,000 after acquiring an additional 122 shares during the last quarter. B. Riley Wealth Advisors Inc. bought a new stake in STERIS in the 3rd quarter worth approximately $221,000. Teachers Retirement System of The State of Kentucky purchased a new position in shares of STERIS in the 3rd quarter worth approximately $1,514,000. FourThought Financial LLC boosted its holdings in shares of STERIS by 82.0% in the 3rd quarter. FourThought Financial LLC now owns 222 shares of the medical equipment provider’s stock worth $37,000 after purchasing an additional 100 shares during the period. Finally, California State Teachers Retirement System boosted its holdings in shares of STERIS by 2.7% in the 3rd quarter. California State Teachers Retirement System now owns 164,912 shares of the medical equipment provider’s stock worth $27,422,000 after purchasing an additional 4,403 shares during the period. Institutional investors own 92.35% of the company’s stock.

Wall Street Analyst Weigh In

STE has been the subject of a number of recent research reports. Piper Sandler dropped their target price on STERIS from $235.00 to $215.00 and set an “overweight” rating for the company in a report on Thursday, February 9th. StockNews.com initiated coverage on STERIS in a report on Thursday, March 16th. They issued a “buy” rating for the company. Stephens reiterated an “overweight” rating and issued a $220.00 target price on shares of STERIS in a report on Thursday, February 9th. TheStreet cut STERIS from a “b-” rating to a “c+” rating in a report on Wednesday, March 1st. Finally, JMP Securities decreased their price target on STERIS from $250.00 to $240.00 and set a “market outperform” rating for the company in a research note on Wednesday, February 15th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $232.83.

STERIS Price Performance

Shares of STE stock opened at $184.49 on Wednesday. STERIS plc has a 52-week low of $159.21 and a 52-week high of $255.93. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.61 and a current ratio of 2.48. The firm has a market capitalization of $18.32 billion, a P/E ratio of -636.15, a P/E/G ratio of 1.99 and a beta of 0.85. The stock has a 50 day moving average price of $194.79 and a 200 day moving average price of $184.91.

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

STERIS Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 23rd. Shareholders of record on Friday, February 24th will be issued a dividend of $0.47 per share. The ex-dividend date of this dividend is Thursday, February 23rd. This represents a $1.88 annualized dividend and a yield of 1.02%. STERIS’s payout ratio is currently -648.25%.

About STERIS

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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.