CIBC Asset Management Inc Purchases 1,088 Shares of STERIS plc (NYSE:STE)

CIBC Asset Management Inc grew its position in STERIS plc (NYSE:STE) by 8.2% in the third quarter, HoldingsChannel.com reports. 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 reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of STE. Oak Harbor Wealth Partners LLC increased its stake in STERIS by 6.8% in the 3rd quarter. Oak Harbor Wealth Partners LLC now owns 3,068 shares of the medical equipment provider’s stock worth $744,000 after buying an additional 195 shares in the last quarter. OneDigital Investment Advisors LLC boosted its stake in shares of STERIS by 335.4% in the third quarter. OneDigital Investment Advisors LLC now owns 21,727 shares of the medical equipment provider’s stock worth $5,270,000 after acquiring an additional 16,737 shares during the period. ING Groep NV bought a new position in shares of STERIS in the third quarter worth about $1,065,000. Tokio Marine Asset Management Co. Ltd. grew its position in shares of STERIS by 5.6% during the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 2,942 shares of the medical equipment provider’s stock worth $714,000 after purchasing an additional 155 shares in the last quarter. Finally, Metis Global Partners LLC raised its stake in STERIS by 1.6% during the 3rd quarter. Metis Global Partners LLC now owns 5,450 shares of the medical equipment provider’s stock valued at $1,322,000 after purchasing an additional 84 shares during the period. 94.69% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Needham & Company LLC reaffirmed a “hold” rating on shares of STERIS in a report on Friday, November 8th. Piper Sandler upgraded shares of STERIS from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $230.00 to $260.00 in a research report on Thursday, October 24th. Stephens reiterated an “overweight” rating and issued a $260.00 price target on shares of STERIS in a report on Thursday, November 7th. JMP Securities reissued a “market outperform” rating and set a $265.00 price objective on shares of STERIS in a report on Monday. Finally, StockNews.com cut STERIS from a “strong-buy” rating to a “buy” rating in a report on Tuesday, October 29th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $253.00.

STERIS Price Performance

NYSE:STE opened at $217.04 on Tuesday. The firm has a market capitalization of $21.42 billion, a price-to-earnings ratio of 50.20 and a beta of 0.85. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.41 and a quick ratio of 1.55. The business has a 50 day simple moving average of $230.37 and a 200-day simple moving average of $228.59. STERIS plc has a 1 year low of $195.47 and a 1 year high of $248.24.

STERIS (NYSE:STE) last issued its quarterly earnings results on Wednesday, November 6th. The medical equipment provider reported $2.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.12 by $0.02. STERIS had a return on equity of 13.78% and a net margin of 8.02%. The company had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.33 billion. During the same period last year, the company earned $2.03 earnings per share. STERIS’s revenue was up 7.3% on a year-over-year basis. Equities analysts forecast that STERIS plc will post 9.15 EPS 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 given a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a yield of 1.05%. The ex-dividend date of this dividend is Tuesday, November 19th. STERIS’s dividend payout ratio (DPR) is currently 52.05%.

Insiders Place Their Bets

In other news, CFO Michael J. Tokich sold 23,332 shares of the stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $247.00, for a total value of $5,763,004.00. Following the sale, the chief financial officer now directly owns 42,930 shares in the company, valued at approximately $10,603,710. This represents a 35.21 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.14% of the stock is owned by 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.