CIBC Asset Management Inc Has $2.98 Million Stock Position in STERIS plc (NYSE:STE)

CIBC Asset Management Inc cut its holdings in shares of STERIS plc (NYSE:STEFree Report) by 4.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 13,540 shares of the medical equipment provider’s stock after selling 619 shares during the period. CIBC Asset Management Inc’s holdings in STERIS were worth $2,977,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Catalyst Capital Advisors LLC acquired a new stake in STERIS in the third quarter valued at about $25,000. VisionPoint Advisory Group LLC bought a new position in shares of STERIS in the fourth quarter worth about $34,000. Pingora Partners LLC acquired a new stake in shares of STERIS in the 4th quarter valued at approximately $37,000. Glassman Wealth Services bought a new stake in shares of STERIS during the 4th quarter valued at approximately $38,000. Finally, Spire Wealth Management increased its position in STERIS by 88.0% during the 4th quarter. Spire Wealth Management now owns 203 shares of the medical equipment provider’s stock worth $45,000 after purchasing an additional 95 shares in the last quarter. Institutional investors and hedge funds own 94.69% of the company’s stock.

STERIS Stock Up 0.2 %

Shares of NYSE STE opened at $230.48 on Friday. The company has a quick ratio of 2.36, a current ratio of 3.08 and a debt-to-equity ratio of 0.49. The firm has a market cap of $22.79 billion, a PE ratio of 60.34 and a beta of 0.85. The company’s fifty day simple moving average is $216.88 and its 200 day simple moving average is $218.85. STERIS plc has a 12-month low of $195.47 and a 12-month high of $254.00.

STERIS (NYSE:STEGet Free Report) last announced its quarterly earnings data on Wednesday, May 8th. The medical equipment provider reported $2.58 earnings per share for the quarter, beating the consensus estimate of $2.41 by $0.17. The firm had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.41 billion. STERIS had a net margin of 6.95% and a return on equity of 13.73%. The business’s quarterly revenue was up 10.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.30 earnings per share. As a group, sell-side analysts forecast that STERIS plc will post 9.24 earnings per share for the current fiscal year.

STERIS Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 26th. Shareholders of record on Wednesday, June 12th will be paid a $0.52 dividend. The ex-dividend date is Wednesday, June 12th. This represents a $2.08 dividend on an annualized basis and a yield of 0.90%. STERIS’s dividend payout ratio (DPR) is presently 54.45%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on STE. Needham & Company LLC restated a “hold” rating on shares of STERIS in a research report on Friday, May 10th. StockNews.com raised shares of STERIS from a “hold” rating to a “buy” rating in a research note on Friday. Piper Sandler reaffirmed a “neutral” rating and issued a $225.00 price objective (up from $220.00) on shares of STERIS in a research note on Friday, May 10th. Stephens reissued an “overweight” rating and set a $250.00 target price on shares of STERIS in a research note on Friday, February 9th. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $265.00 price target on shares of STERIS in a research report on Thursday, May 9th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $241.60.

Get Our Latest Report on STERIS

Insider Activity

In related news, Director Jacqueline B. Kosecoff sold 4,584 shares of the stock in a transaction on Monday, May 13th. The stock was sold at an average price of $231.53, for a total value of $1,061,333.52. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, SVP Cary L. Majors sold 2,024 shares of the stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $232.13, for a total value of $469,831.12. Following the completion of the sale, the senior vice president now directly owns 11,369 shares of the company’s stock, valued at $2,639,085.97. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Jacqueline B. Kosecoff sold 4,584 shares of the firm’s stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $231.53, for a total value of $1,061,333.52. The disclosure for this sale can be found here. Insiders sold a total of 7,762 shares of company stock worth $1,798,477 over the last quarter. 0.95% of the stock is currently owned by corporate insiders.

STERIS Company Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for STERIS (NYSE:STE)

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