Cranbrook Wealth Management LLC Raises Holdings in STERIS plc (NYSE:STE)

Cranbrook Wealth Management LLC boosted its stake in shares of STERIS plc (NYSE:STE) by 4.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,159 shares of the medical equipment provider’s stock after acquiring an additional 90 shares during the quarter. Cranbrook Wealth Management LLC’s holdings in STERIS were worth $444,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. Ashton Thomas Securities LLC acquired a new stake in shares of STERIS during the 3rd quarter worth approximately $25,000. Central Pacific Bank Trust Division purchased a new stake in STERIS during the third quarter worth $28,000. Brown Brothers Harriman & Co. grew its position in STERIS by 154.7% during the second quarter. Brown Brothers Harriman & Co. now owns 191 shares of the medical equipment provider’s stock valued at $42,000 after buying an additional 116 shares during the period. Quarry LP purchased a new position in STERIS in the third quarter valued at $67,000. Finally, Asset Dedication LLC raised its position in shares of STERIS by 54.8% in the third quarter. Asset Dedication LLC now owns 291 shares of the medical equipment provider’s stock worth $71,000 after acquiring an additional 103 shares during the period. 94.69% of the stock is owned by institutional investors and hedge funds.

STERIS Stock Performance

Shares of NYSE:STE opened at $209.50 on Friday. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.41 and a quick ratio of 1.55. STERIS plc has a 1 year low of $197.82 and a 1 year high of $248.24. The firm has a market capitalization of $20.68 billion, a PE ratio of 47.83 and a beta of 0.84. The business’s 50 day moving average price is $212.04 and its 200-day moving average price is $224.72.

STERIS (NYSE:STE) last announced its earnings results on Wednesday, November 6th. The medical equipment provider reported $2.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.12 by $0.02. The company had revenue of $1.33 billion for the quarter, compared to analysts’ expectations of $1.33 billion. STERIS had a net margin of 8.02% and a return on equity of 13.78%. The firm’s quarterly revenue was up 7.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.03 EPS. As a group, equities research analysts expect that STERIS plc will post 9.1 earnings per share for the current fiscal year.

STERIS Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 19th. Shareholders of record on Tuesday, November 19th were issued a $0.57 dividend. The ex-dividend date of this dividend was Tuesday, November 19th. This represents a $2.28 dividend on an annualized basis and a yield of 1.09%. STERIS’s payout ratio is 52.05%.

Wall Street Analysts Forecast Growth

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

Insiders Place Their Bets

In other STERIS news, SVP Cary L. Majors sold 1,682 shares of the company’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $217.32, for a total value of $365,532.24. Following the completion of the sale, the senior vice president now directly owns 11,372 shares in the company, valued at $2,471,363.04. This represents a 12.88 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.14% of the company’s stock.

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.