Cranbrook Wealth Management LLC Purchases 90 Shares of STERIS plc (NYSE:STE)

Cranbrook Wealth Management LLC lifted its position in STERIS plc (NYSE:STE) by 4.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). 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 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Bleakley Financial Group LLC lifted its position in shares of STERIS by 8.7% in the 3rd quarter. Bleakley Financial Group LLC now owns 1,680 shares of the medical equipment provider’s stock worth $407,000 after purchasing an additional 134 shares during the period. Franklin Resources Inc. raised its stake in STERIS by 171.2% in the third quarter. Franklin Resources Inc. now owns 838,569 shares of the medical equipment provider’s stock worth $191,370,000 after buying an additional 529,308 shares in the last quarter. Assetmark Inc. lifted its holdings in STERIS by 24.6% during the third quarter. Assetmark Inc. now owns 13,410 shares of the medical equipment provider’s stock worth $3,252,000 after buying an additional 2,647 shares during the period. KBC Group NV boosted its position in STERIS by 52.0% during the 3rd quarter. KBC Group NV now owns 12,071 shares of the medical equipment provider’s stock valued at $2,928,000 after acquiring an additional 4,132 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB purchased a new position in shares of STERIS in the 3rd quarter valued at $9,949,000. 94.69% of the stock is owned by hedge funds and other institutional investors.

STERIS Stock Performance

Shares of STERIS stock opened at $209.50 on Friday. The firm has a market capitalization of $20.68 billion, a P/E ratio of 47.83 and a beta of 0.84. STERIS plc has a 52 week low of $197.82 and a 52 week high of $248.24. The company has a quick ratio of 1.55, a current ratio of 2.41 and a debt-to-equity ratio of 0.33. The company has a 50 day moving average price of $212.04 and a 200 day moving average price of $224.72.

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

STERIS Dividend Announcement

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

Insider Activity at STERIS

In other STERIS news, SVP Cary L. Majors sold 1,682 shares of STERIS stock in a transaction that occurred 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 directly owns 11,372 shares in the company, valued at approximately $2,471,363.04. The trade was a 12.88 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 1.14% of the stock is owned by insiders.

Wall Street Analyst Weigh In

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

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.