STERIS plc $STE Shares Acquired by CIBC Asset Management Inc

Key Points

• CIBC Asset Management boosted its STERIS stake by 67.6% in the fourth quarter, holding 23,514 shares worth about $5.96 million after adding 9,481 shares.
• STERIS drew mixed analyst sentiment: several firms maintained or trimmed ratings/price targets, but the stock still carries a Moderate Buy consensus with an average target price of $278.
• The company reported Q1 results with EPS of $2.83, slightly below estimates, while revenue met expectations at $1.59 billion; STERIS also declared a quarterly dividend of $0.63 per share.

CIBC Asset Management Inc increased its holdings in STERIS plc (NYSE:STE - Free Report) by 67.6% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 23,514 shares of the medical equipment provider's stock after acquiring 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 filing with the SEC.

Other institutional investors have also modified their holdings of the company. Board of the Pension Protection Fund acquired a new position in shares of STERIS in the fourth quarter worth about $25,000. Activest Wealth Management lifted its stake in shares of STERIS by 423.8% in the fourth quarter. Activest Wealth Management now owns 110 shares of the medical equipment provider's stock worth $28,000 after acquiring an additional 89 shares in the last quarter. Measured Wealth Private Client Group LLC acquired a new position in shares of STERIS in the fourth quarter worth about $28,000. Harbor Investment Advisory LLC lifted its stake in shares of STERIS by 115.4% in the fourth quarter. Harbor Investment Advisory LLC now owns 112 shares of the medical equipment provider's stock worth $28,000 after acquiring an additional 60 shares in the last quarter. Finally, Cornerstone Planning Group LLC increased its holdings in STERIS by 342.3% in the fourth quarter. Cornerstone Planning Group LLC now owns 115 shares of the medical equipment provider's stock valued at $30,000 after buying an additional 89 shares during the last quarter. Institutional investors and hedge funds own 94.69% of the company's stock.

Wall Street Analyst Weigh In

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

Insider Activity at STERIS

In other 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 transaction of $310,284.31. Following the completion of the transaction, the director directly owned 38,964 shares of the company's stock, valued at approximately $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 Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.07% of the company's stock.

STERIS Stock Down 0.1%

Shares of STERIS stock opened at $212.13 on Friday. The company has a quick ratio of 1.54, a current ratio of 2.09 and a debt-to-equity ratio of 0.25. The firm has a market cap of $20.70 billion, a P/E ratio of 26.75 and a beta of 0.93. STERIS plc has a fifty-two week low of $195.14 and a fifty-two week high of $269.44. The business has a 50-day moving average price of $217.24 and a 200 day moving average price of $239.09.

STERIS (NYSE:STE - Get Free Report) last announced its quarterly earnings data on Monday, May 11th. The medical equipment provider reported $2.83 earnings per share for the quarter, missing the consensus estimate of $2.86 by ($0.03). The firm had revenue of $1.59 billion during the quarter, compared to the consensus estimate of $1.59 billion. STERIS had a net margin of 13.18% and a return on equity of 14.15%. The firm's quarterly revenue was up 6.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.74 earnings per share. STERIS has set its FY 2027 guidance at 11.100-11.300 EPS. On average, sell-side analysts forecast that STERIS plc will post 11.18 earnings per share for the current fiscal year.

STERIS Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 26th. Stockholders of record on Monday, June 8th will be issued a dividend of $0.63 per share. The ex-dividend date of this dividend is Monday, June 8th. This represents a $2.52 annualized dividend and a dividend yield of 1.2%. STERIS's dividend payout ratio is 31.78%.

STERIS 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.

Want to see what other hedge funds are holding STE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for STERIS plc (NYSE:STE - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.