Maxwell Wealth Strategies Inc. Purchases 2,393 Shares of STERIS plc (NYSE:STE)

Maxwell Wealth Strategies Inc. grew its position in shares of STERIS plc (NYSE:STE) by 37.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,856 shares of the medical equipment provider’s stock after acquiring an additional 2,393 shares during the quarter. Maxwell Wealth Strategies Inc.’s holdings in STERIS were worth $2,014,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of the company. Mizuho Securities USA LLC grew its position in STERIS by 191.6% in the 3rd quarter. Mizuho Securities USA LLC now owns 22,232 shares of the medical equipment provider’s stock valued at $5,392,000 after purchasing an additional 14,609 shares during the period. CIBC Asset Management Inc lifted its stake in shares of STERIS by 8.2% in the third quarter. CIBC Asset Management Inc now owns 14,391 shares of the medical equipment provider’s stock valued at $3,490,000 after buying an additional 1,088 shares in the last quarter. Oak Harbor Wealth Partners LLC grew its holdings in shares of STERIS by 6.8% during the third quarter. Oak Harbor Wealth Partners LLC now owns 3,068 shares of the medical equipment provider’s stock valued at $744,000 after buying an additional 195 shares during the last quarter. OneDigital Investment Advisors LLC increased its position in shares of STERIS by 335.4% during the third quarter. OneDigital Investment Advisors LLC now owns 21,727 shares of the medical equipment provider’s stock worth $5,270,000 after acquiring an additional 16,737 shares in the last quarter. Finally, ING Groep NV acquired a new stake in shares of STERIS in the 3rd quarter worth about $1,065,000. 94.69% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other STERIS news, CFO Michael J. Tokich sold 23,332 shares of the company’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $247.00, for a total transaction of $5,763,004.00. Following the sale, the chief financial officer now directly owns 42,930 shares of the company’s stock, valued at $10,603,710. This represents a 35.21 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 1.14% of the company’s stock.

STERIS Stock Down 0.5 %

STE stock opened at $220.12 on Friday. STERIS plc has a 1-year low of $195.47 and a 1-year high of $248.24. The stock has a market cap of $21.73 billion, a P/E ratio of 50.26 and a beta of 0.85. The stock’s fifty day simple moving average is $230.77 and its two-hundred day simple moving average is $228.15. The company has a current ratio of 2.41, a quick ratio of 1.55 and a debt-to-equity ratio of 0.33.

STERIS (NYSE:STE) last posted its quarterly earnings results on Wednesday, November 6th. The medical equipment provider reported $2.14 earnings per share for the quarter, beating the consensus estimate of $2.12 by $0.02. The company had revenue of $1.33 billion during 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 firm’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.03 earnings per share. Analysts expect that STERIS plc will post 9.15 EPS for the current year.

STERIS Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Tuesday, November 19th will be issued a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a yield of 1.04%. The ex-dividend date is Tuesday, November 19th. STERIS’s dividend payout ratio (DPR) is 52.05%.

Analysts Set New Price Targets

STE has been the subject of a number of analyst reports. KeyCorp lifted their price target on STERIS from $255.00 to $265.00 and gave the company an “overweight” rating in a research note on Tuesday, September 3rd. JMP Securities reaffirmed a “market outperform” rating and set a $265.00 target price on shares of STERIS in a research report on Wednesday, August 7th. Needham & Company LLC reissued a “hold” rating on shares of STERIS in a research report on Friday, November 8th. Stephens reaffirmed an “overweight” rating and set a $260.00 price objective on shares of STERIS in a report on Thursday, November 7th. Finally, Piper Sandler upgraded shares of STERIS from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $230.00 to $260.00 in a research note on Thursday, October 24th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $253.00.

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.