STERIS plc (NYSE:STE) Position Boosted by Carnegie Investment Counsel

Carnegie Investment Counsel boosted its holdings in STERIS plc (NYSE:STE) by 1.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 57,188 shares of the medical equipment provider’s stock after purchasing an additional 833 shares during the quarter. Carnegie Investment Counsel owned approximately 0.06% of STERIS worth $11,756,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the business. Ashton Thomas Securities LLC bought a new position in shares of STERIS in the third quarter worth $25,000. Central Pacific Bank Trust Division acquired a new stake in shares of STERIS during the third quarter worth $28,000. Brown Brothers Harriman & Co. lifted its stake 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 in the last quarter. Quarry LP purchased a new stake in shares of STERIS in the 3rd quarter valued at approximately $67,000. Finally, Asset Dedication LLC boosted 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 buying an additional 103 shares during the period. Institutional investors own 94.69% of the company’s stock.

Insiders Place Their Bets

In other news, SVP Cary L. Majors sold 1,682 shares of STERIS stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $217.32, for a total transaction of $365,532.24. Following the completion of the transaction, 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 can be accessed through this link. Company insiders own 1.14% of the company’s stock.

Analysts Set New Price Targets

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

STERIS Stock Performance

Shares of STE stock opened at $209.96 on Friday. STERIS plc has a 52 week low of $197.82 and a 52 week high of $248.24. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.55 and a current ratio of 2.41. The company’s 50 day moving average price is $212.23 and its two-hundred day moving average price is $224.79. The company has a market capitalization of $20.72 billion, a P/E ratio of 47.94 and a beta of 0.84.

STERIS (NYSE:STE) last issued its quarterly earnings results 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. STERIS had a net margin of 8.02% and a return on equity of 13.78%. The firm had revenue of $1.33 billion for the quarter, compared to analysts’ expectations of $1.33 billion. During the same period in the previous year, the firm posted $2.03 EPS. The company’s revenue for the quarter was up 7.3% on a year-over-year basis. On average, analysts expect that STERIS plc will post 9.1 earnings per share for the current fiscal year.

STERIS Dividend Announcement

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

STERIS Company 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.