STERIS plc $STE Stake Boosted by CIBC Asset Management Inc

CIBC Asset Management Inc grew its stake in shares of STERIS plc (NYSE:STE) by 67.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 23,514 shares of the medical equipment provider’s stock after purchasing an additional 9,481 shares during the quarter. CIBC Asset Management Inc’s holdings in STERIS were worth $5,961,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Board of the Pension Protection Fund bought a new position in shares of STERIS during the fourth quarter valued at approximately $25,000. Harbor Investment Advisory LLC boosted its position in shares of STERIS by 115.4% during the fourth quarter. Harbor Investment Advisory LLC now owns 112 shares of the medical equipment provider’s stock worth $28,000 after buying an additional 60 shares during the period. Activest Wealth Management boosted its position in shares of STERIS by 423.8% during the fourth quarter. Activest Wealth Management now owns 110 shares of the medical equipment provider’s stock worth $28,000 after buying an additional 89 shares during the period. Measured Wealth Private Client Group LLC acquired a new position in shares of STERIS during the fourth quarter worth approximately $28,000. Finally, Geneos Wealth Management Inc. boosted its position in shares of STERIS by 416.0% during the first quarter. Geneos Wealth Management Inc. now owns 129 shares of the medical equipment provider’s stock worth $29,000 after buying an additional 104 shares during the period. 94.69% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other STERIS news, Director Richard C. Breeden sold 1,481 shares of the company’s stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $209.51, for a total value of $310,284.31. Following the completion of the sale, the director directly owned 38,964 shares in the company, valued at $8,163,347.64. This represents a 3.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.07% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on STE shares. Wall Street Zen downgraded STERIS from a “strong-buy” rating to a “buy” rating in a research report on Saturday. Piper Sandler reiterated an “overweight” rating and set a $270.00 price objective on shares of STERIS in a research report on Thursday, May 21st. Weiss Ratings downgraded STERIS from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, May 27th. Finally, KeyCorp reduced their price objective on STERIS from $291.00 to $269.00 and set an “overweight” rating for the company in a research report on Wednesday, May 13th. Three research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, STERIS has an average rating of “Moderate Buy” and an average target price of $278.00.

STERIS Stock Performance

STE opened at $212.13 on Friday. The company has a market capitalization of $20.70 billion, a price-to-earnings ratio of 26.75 and a beta of 0.93. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.09 and a quick ratio of 1.54. STERIS plc has a 1-year low of $195.14 and a 1-year high of $269.44. The business has a 50 day moving average price of $217.24 and a two-hundred day moving average price of $239.09.

STERIS (NYSE:STE) last released its earnings results on Monday, May 11th. The medical equipment provider reported $2.83 earnings per share for the quarter, missing analysts’ consensus estimates of $2.86 by ($0.03). The firm had revenue of $1.59 billion during the quarter, compared to analyst estimates of $1.59 billion. STERIS had a return on equity of 14.15% and a net margin of 13.18%.The business’s revenue for the quarter was up 6.7% on a year-over-year basis. During the same quarter last year, the company earned $2.74 earnings per share. STERIS has set its FY 2027 guidance at 11.100-11.300 EPS. Research analysts predict that STERIS plc will post 11.18 EPS for the current fiscal year.

STERIS Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 26th. Shareholders of record on Monday, June 8th will be given a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date is Monday, June 8th. STERIS’s dividend payout ratio is 31.78%.

STERIS Company Profile

STERIS Corporation (NYSE: STE) is a global provider of infection prevention, contamination control and procedural products and services for the healthcare, life sciences, pharmaceutical and medical device industries. The company develops, manufactures and supports a broad portfolio of equipment and consumables designed to reduce risk of infection, maintain sterile environments and support critical clinical and manufacturing procedures.

Its offerings include sterilization and decontamination systems, instrument washers and washers-disinfectors, endoscope reprocessing solutions, surgical equipment and procedural disposables, and contamination-control products for cleanrooms and laboratories.