CIBC Private Wealth Group LLC Buys 606 Shares of STERIS plc (NYSE:STE)

CIBC Private Wealth Group LLC increased its position in STERIS plc (NYSE:STE) by 18.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,851 shares of the medical equipment provider’s stock after purchasing an additional 606 shares during the period. CIBC Private Wealth Group LLC’s holdings in STERIS were worth $807,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of STE. Norges Bank bought a new position in shares of STERIS in the fourth quarter worth approximately $238,836,000. Raymond James Financial Inc. bought a new position in STERIS in the 4th quarter valued at approximately $223,987,000. Franklin Resources Inc. lifted its position in STERIS by 171.2% in the 3rd quarter. Franklin Resources Inc. now owns 838,569 shares of the medical equipment provider’s stock valued at $191,370,000 after acquiring an additional 529,308 shares in the last quarter. Boston Trust Walden Corp boosted its stake in STERIS by 400.4% during the 4th quarter. Boston Trust Walden Corp now owns 224,741 shares of the medical equipment provider’s stock valued at $46,198,000 after purchasing an additional 179,829 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in shares of STERIS by 15.9% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,261,927 shares of the medical equipment provider’s stock worth $257,585,000 after purchasing an additional 172,795 shares in the last quarter. 94.69% of the stock is owned by hedge funds and other institutional investors.

STERIS Trading Down 3.7 %

Shares of NYSE:STE opened at $213.16 on Friday. The stock’s 50-day simple moving average is $223.23 and its two-hundred day simple moving average is $220.72. The stock has a market capitalization of $20.94 billion, a price-to-earnings ratio of 45.26 and a beta of 0.92. STERIS plc has a 52-week low of $197.82 and a 52-week high of $248.24. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.40 and a current ratio of 2.13.

STERIS (NYSE:STE) last posted its quarterly earnings data on Wednesday, February 5th. The medical equipment provider reported $2.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.33 by ($0.01). STERIS had a return on equity of 13.91% and a net margin of 8.66%. Analysts expect that STERIS plc will post 9.08 EPS for the current year.

STERIS Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Thursday, February 20th were issued a $0.57 dividend. The ex-dividend date of this dividend was Thursday, February 20th. This represents a $2.28 dividend on an annualized basis and a yield of 1.07%. STERIS’s dividend payout ratio is currently 48.41%.

Analysts Set New Price Targets

Several equities research analysts recently commented on STE shares. Piper Sandler increased their price objective on STERIS from $260.00 to $265.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. JMP Securities reaffirmed a “market outperform” rating and set a $265.00 price target on shares of STERIS in a report on Thursday, February 6th. Finally, Stephens reiterated an “overweight” rating and issued a $240.00 price target on shares of STERIS in a research note on Thursday, February 6th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $258.75.

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.