CIBC Asset Management Inc Raises Position in STERIS plc (NYSE:STE)

CIBC Asset Management Inc grew its position in shares of STERIS plc (NYSE:STE) by 8.2% during the third quarter, according to its most recent filing with the SEC. The firm owned 14,391 shares of the medical equipment provider’s stock after acquiring an additional 1,088 shares during the period. CIBC Asset Management Inc’s holdings in STERIS were worth $3,490,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Ashton Thomas Securities LLC purchased a new stake in STERIS in the third quarter worth $25,000. Central Pacific Bank Trust Division bought a new position in shares of STERIS in the 3rd quarter worth about $28,000. Quent Capital LLC increased its stake in shares of STERIS by 112.7% in the 1st quarter. Quent Capital LLC now owns 134 shares of the medical equipment provider’s stock worth $30,000 after acquiring an additional 71 shares in the last quarter. Versant Capital Management Inc boosted its stake in STERIS by 2,262.5% during the second quarter. Versant Capital Management Inc now owns 189 shares of the medical equipment provider’s stock worth $41,000 after acquiring an additional 181 shares in the last quarter. Finally, Brown Brothers Harriman & Co. grew its holdings in STERIS by 154.7% in the second quarter. Brown Brothers Harriman & Co. now owns 191 shares of the medical equipment provider’s stock worth $42,000 after purchasing an additional 116 shares during the period. Institutional investors own 94.69% of the company’s stock.

STERIS Price Performance

Shares of NYSE:STE opened at $217.04 on Tuesday. The business has a 50-day simple moving average of $230.37 and a two-hundred day simple moving average of $228.59. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.55 and a current ratio of 2.41. The firm has a market cap of $21.42 billion, a price-to-earnings ratio of 50.20 and a beta of 0.85. STERIS plc has a fifty-two week low of $195.47 and a fifty-two week high of $248.24.

STERIS (NYSE:STE) last issued its quarterly earnings data on Wednesday, November 6th. The medical equipment provider reported $2.14 earnings per share for the quarter, beating analysts’ consensus estimates of $2.12 by $0.02. STERIS had a net margin of 8.02% and a return on equity of 13.78%. The company had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.33 billion. During the same quarter in the prior year, the firm earned $2.03 earnings per share. The firm’s revenue for the quarter was up 7.3% compared to the same quarter last year. On average, analysts expect that STERIS plc will post 9.15 earnings per share for the current year.

STERIS Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Tuesday, November 19th will be issued a $0.57 dividend. This represents a $2.28 annualized dividend and a dividend yield of 1.05%. The ex-dividend date of this dividend is Tuesday, November 19th. STERIS’s payout ratio is currently 52.05%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on STE shares. Piper Sandler upgraded shares of STERIS from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $230.00 to $260.00 in a report on Thursday, October 24th. KeyCorp boosted their target price on STERIS from $255.00 to $265.00 and gave the stock an “overweight” rating in a report on Tuesday, September 3rd. JMP Securities reissued a “market outperform” rating and issued a $265.00 target price on shares of STERIS in a research note on Monday. Needham & Company LLC reaffirmed a “hold” rating on shares of STERIS in a research report on Friday, November 8th. Finally, StockNews.com downgraded shares of STERIS from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, October 29th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, STERIS presently has an average rating of “Moderate Buy” and an average target price of $253.00.

Insider Activity at STERIS

In other STERIS news, CFO Michael J. Tokich sold 23,332 shares of the business’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $247.00, for a total transaction of $5,763,004.00. Following the completion of the sale, the chief financial officer now directly owns 42,930 shares in the company, valued at $10,603,710. The trade was a 35.21 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.14% of the stock is owned by company insiders.

STERIS Company Profile

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.