Cibc World Markets Corp bought a new stake in STERIS plc (NYSE:STE – Free Report) in the 1st quarter, according to its most recent filing with the SEC. The fund bought 5,021 shares of the medical equipment provider’s stock, valued at approximately $960,000.
Several other large investors have also recently made changes to their positions in STE. Morgan Stanley lifted its stake in shares of STERIS by 70.7% in the 4th quarter. Morgan Stanley now owns 3,756,454 shares of the medical equipment provider’s stock valued at $693,780,000 after purchasing an additional 1,556,136 shares during the period. Norges Bank acquired a new position in STERIS during the fourth quarter worth $153,900,000. Findlay Park Partners LLP acquired a new position in STERIS during the first quarter worth $100,756,000. Mackenzie Financial Corp acquired a new position in STERIS during the first quarter worth $91,086,000. Finally, Invesco Ltd. raised its position in STERIS by 89.8% during the first quarter. Invesco Ltd. now owns 953,983 shares of the medical equipment provider’s stock worth $230,645,000 after acquiring an additional 451,235 shares during the period. 92.91% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of research firms have weighed in on STE. StockNews.com began coverage on shares of STERIS in a research report on Thursday, August 17th. They set a “buy” rating for the company. Stephens upped their price objective on shares of STERIS from $240.00 to $250.00 in a research report on Monday, July 17th. Morgan Stanley upped their price objective on shares of STERIS from $206.00 to $225.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 3rd. Piper Sandler raised their price target on shares of STERIS from $197.00 to $200.00 in a research note on Friday, May 12th. Finally, JMP Securities raised their price target on shares of STERIS from $240.00 to $265.00 and gave the stock a “market outperform” rating in a research note on Friday. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $239.60.
STERIS Stock Performance
NYSE:STE opened at $230.87 on Friday. STERIS plc has a twelve month low of $159.21 and a twelve month high of $254.00. The company has a market cap of $22.81 billion, a P/E ratio of 189.24, a P/E/G ratio of 2.38 and a beta of 0.85. The company’s 50-day moving average price is $225.79 and its 200-day moving average price is $205.02. The company has a current ratio of 2.29, a quick ratio of 1.42 and a debt-to-equity ratio of 0.46.
STERIS (NYSE:STE – Get Free Report) last released its quarterly earnings data on Tuesday, August 1st. The medical equipment provider reported $2.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.86 by $0.14. STERIS had a net margin of 2.35% and a return on equity of 13.75%. The firm had revenue of $1.28 billion during the quarter, compared to analysts’ expectations of $1.21 billion. During the same period last year, the business earned $1.90 earnings per share. STERIS’s revenue was up 11.1% compared to the same quarter last year. On average, sell-side analysts forecast that STERIS plc will post 8.72 earnings per share for the current fiscal year.
STERIS Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 22nd. Investors of record on Wednesday, September 6th will be given a dividend of $0.52 per share. This is a boost from STERIS’s previous quarterly dividend of $0.47. This represents a $2.08 annualized dividend and a yield of 0.90%. The ex-dividend date is Tuesday, September 5th. STERIS’s dividend payout ratio (DPR) is presently 170.49%.
About STERIS
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.
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