Retirement Systems of Alabama Sells 1,241 Shares of STERIS plc (NYSE:STE)

Posted by on May 4th, 2023

Retirement Systems of Alabama decreased its holdings in shares of STERIS plc (NYSE:STE – Get Rating) by 3.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 31,979 shares of the medical equipment provider’s stock after selling 1,241 shares during the period. Retirement Systems of Alabama’s holdings in STERIS were worth $5,906,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of STE. 1832 Asset Management L.P. bought a new stake in shares of STERIS during the 1st quarter valued at $25,000. Fiduciary Alliance LLC bought a new position in STERIS in the 4th quarter worth $28,000. Asset Dedication LLC bought a new position in STERIS in the 4th quarter worth $30,000. Pinnacle Financial Partners Inc. bought a new position in STERIS in the 3rd quarter worth $33,000. Finally, FourThought Financial LLC boosted its holdings in 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 buying an additional 100 shares during the period. Institutional investors own 92.35% of the company’s stock.

STERIS Stock Down 1.2 %

Shares of NYSE STE opened at $187.68 on Thursday. The firm’s 50-day moving average price is $186.35 and its 200-day moving average price is $186.39. The company has a current ratio of 2.48, a quick ratio of 1.61 and a debt-to-equity ratio of 0.50. The stock has a market capitalization of $18.63 billion, a price-to-earnings ratio of -647.17, a P/E/G ratio of 1.94 and a beta of 0.85. STERIS plc has a 12-month low of $159.21 and a 12-month high of $236.10.

STERIS (NYSE:STE – Get Rating) last announced its earnings results on Wednesday, February 8th. The medical equipment provider reported $2.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.19 by ($0.17). STERIS had a negative net margin of 0.58% and a positive return on equity of 12.86%. The business had revenue of $1.22 billion for the quarter, compared to analysts’ expectations of $1.27 billion. During the same quarter in the prior year, the company posted $2.12 earnings per share. The firm’s quarterly revenue was up .8% compared to the same quarter last year. On average, equities research analysts anticipate that STERIS plc will post 8.05 EPS for the current fiscal year.

STERIS Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 28th. Investors of record on Wednesday, June 14th will be given a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 1.00%. STERIS’s dividend payout ratio (DPR) is currently -648.28%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on STE shares. StockNews.com started coverage on shares of STERIS in a report on Thursday, March 16th. They issued a “buy” rating for the company. Stephens reaffirmed an “overweight” rating and issued a $220.00 target price on shares of STERIS in a report on Thursday, February 9th. JMP Securities dropped their price objective on shares of STERIS from $250.00 to $240.00 and set a “market outperform” rating for the company in a report on Wednesday, February 15th. Piper Sandler downgraded shares of STERIS from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $215.00 to $197.00 in a report on Friday, April 14th. Finally, TheStreet downgraded shares of STERIS from a “b-” rating to a “c+” rating in a report on Wednesday, March 1st. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, STERIS presently has a consensus rating of “Moderate Buy” and an average price target of $220.80.

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.

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Institutional Ownership by Quarter for STERIS (NYSE:STE)

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