Private Harbour Investment Management & Counsel LLC Decreases Holdings in STERIS plc (NYSE:STE)

Private Harbour Investment Management & Counsel LLC trimmed its stake in shares of STERIS plc (NYSE:STE) by 5.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,209 shares of the medical equipment provider’s stock after selling 280 shares during the quarter. STERIS makes up 1.2% of Private Harbour Investment Management & Counsel LLC’s investment portfolio, making the stock its 26th largest position. Private Harbour Investment Management & Counsel LLC’s holdings in STERIS were worth $1,071,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Principal Financial Group Inc. increased its stake in shares of STERIS by 9.5% in the 3rd quarter. Principal Financial Group Inc. now owns 1,114,224 shares of the medical equipment provider’s stock worth $270,230,000 after acquiring an additional 96,336 shares in the last quarter. Cerity Partners LLC increased its holdings in STERIS by 4.1% during the third quarter. Cerity Partners LLC now owns 71,335 shares of the medical equipment provider’s stock valued at $17,302,000 after buying an additional 2,797 shares during the last quarter. Swedbank AB purchased a new position in STERIS during the third quarter valued at $28,251,000. Daiwa Securities Group Inc. lifted its position in shares of STERIS by 10.3% during the 3rd quarter. Daiwa Securities Group Inc. now owns 13,724 shares of the medical equipment provider’s stock valued at $3,329,000 after buying an additional 1,276 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of STERIS by 2.5% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 43,253 shares of the medical equipment provider’s stock valued at $10,491,000 after buying an additional 1,053 shares in the last quarter. 94.69% of the stock is currently owned by institutional investors.

STERIS Stock Down 0.6 %

Shares of NYSE STE opened at $221.57 on Wednesday. The company has a current ratio of 2.13, a quick ratio of 1.40 and a debt-to-equity ratio of 0.32. The company has a 50-day moving average of $221.62 and a 200 day moving average of $221.60. The stock has a market cap of $21.77 billion, a PE ratio of 47.04 and a beta of 0.92. STERIS plc has a 12-month low of $197.82 and a 12-month high of $248.24.

STERIS (NYSE:STE) last released its quarterly earnings results on Wednesday, February 5th. The medical equipment provider reported $2.32 earnings per share for the quarter, missing analysts’ consensus estimates of $2.33 by ($0.01). STERIS had a return on equity of 13.91% and a net margin of 8.66%. As a group, sell-side analysts predict that STERIS plc will post 9.08 EPS for the current fiscal year.

STERIS Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Thursday, February 20th were given a $0.57 dividend. The ex-dividend date of this dividend was Thursday, February 20th. This represents a $2.28 dividend on an annualized basis and a yield of 1.03%. STERIS’s dividend payout ratio (DPR) is presently 48.41%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Piper Sandler raised their price target on STERIS from $260.00 to $265.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. JMP Securities reiterated a “market outperform” rating and issued a $265.00 target price on shares of STERIS in a research note on Thursday, February 6th. Finally, Stephens reissued an “overweight” rating and issued a $240.00 price objective on shares of STERIS in a research note on Thursday, February 6th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, STERIS has an average rating of “Moderate Buy” and a consensus price target of $258.75.

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.