Investment Management Corp of Ontario Acquires 1,200 Shares of STERIS plc (NYSE:STE)

Investment Management Corp of Ontario raised its holdings in STERIS plc (NYSE:STE) by 55.4% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,365 shares of the medical equipment provider’s stock after acquiring an additional 1,200 shares during the period. Investment Management Corp of Ontario’s holdings in STERIS were worth $816,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of STE. Ashton Thomas Securities LLC bought a new stake in STERIS during the third quarter valued at approximately $25,000. Central Pacific Bank Trust Division bought a new stake in shares of STERIS during the 3rd quarter worth $28,000. Brown Brothers Harriman & Co. grew its position in STERIS by 154.7% in the second quarter. Brown Brothers Harriman & Co. now owns 191 shares of the medical equipment provider’s stock worth $42,000 after acquiring an additional 116 shares in the last quarter. Isthmus Partners LLC bought a new position in STERIS in the second quarter valued at $44,000. Finally, American National Bank purchased a new stake in STERIS during the second quarter valued at about $53,000. Institutional investors own 94.69% of the company’s stock.

STERIS Stock Down 0.7 %

Shares of STERIS stock opened at $215.89 on Friday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.55 and a current ratio of 2.41. STERIS plc has a 52-week low of $197.82 and a 52-week high of $248.24. The company’s 50 day moving average price is $222.94 and its 200-day moving average price is $227.77. The stock has a market capitalization of $21.31 billion, a price-to-earnings ratio of 49.29 and a beta of 0.83.

STERIS (NYSE:STE) last announced its quarterly earnings results on Wednesday, November 6th. The medical equipment provider reported $2.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.12 by $0.02. The business had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.33 billion. STERIS had a net margin of 8.02% and a return on equity of 13.78%. The company’s revenue was up 7.3% on a year-over-year basis. During the same quarter last year, the firm earned $2.03 EPS. Equities research analysts forecast that STERIS plc will post 9.12 EPS for the current year.

STERIS Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Tuesday, November 19th will be given a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a yield of 1.06%. The ex-dividend date of this dividend is Tuesday, November 19th. STERIS’s payout ratio is 52.05%.

Insiders Place Their Bets

In related news, CFO Michael J. Tokich sold 23,332 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $247.00, for a total transaction of $5,763,004.00. Following the completion of the transaction, the chief financial officer now owns 42,930 shares in the company, valued at $10,603,710. This represents a 35.21 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Cary L. Majors sold 1,682 shares of STERIS stock in a transaction on Monday, November 25th. The shares were sold at an average price of $217.32, for a total transaction of $365,532.24. Following the completion of the sale, the senior vice president now owns 11,372 shares in the company, valued at approximately $2,471,363.04. This trade represents a 12.88 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.14% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on STE. Piper Sandler upgraded STERIS from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $230.00 to $260.00 in a research report on Thursday, October 24th. JMP Securities reiterated a “market outperform” rating and set a $265.00 price target on shares of STERIS in a research report on Monday, November 18th. Stephens restated an “overweight” rating and issued a $260.00 price objective on shares of STERIS in a report on Thursday, November 7th. Needham & Company LLC reaffirmed a “hold” rating on shares of STERIS in a report on Friday, November 8th. Finally, StockNews.com downgraded shares of STERIS from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, October 29th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $262.50.

STERIS 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.