The Manufacturers Life Insurance Company trimmed its holdings in shares of STERIS plc (NYSE:STE – Free Report) by 3.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 81,993 shares of the medical equipment provider’s stock after selling 3,044 shares during the period. The Manufacturers Life Insurance Company’s holdings in STERIS were worth $18,131,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors have also added to or reduced their stakes in STE. Goldman Sachs Group Inc. increased its holdings in STERIS by 40.8% during the fourth quarter. Goldman Sachs Group Inc. now owns 633,530 shares of the medical equipment provider’s stock valued at $160,613,000 after buying an additional 183,680 shares during the period. Kornitzer Capital Management Inc. KS purchased a new stake in STERIS during the first quarter worth $5,506,000. Cerity Partners LLC lifted its holdings in STERIS by 116.7% during the fourth quarter. Cerity Partners LLC now owns 209,923 shares of the medical equipment provider’s stock worth $53,220,000 after buying an additional 113,070 shares during the period. V Square Quantitative Management LLC bought a new stake in STERIS during the 4th quarter valued at $676,000. Finally, Arrowstreet Capital Limited Partnership boosted its position in STERIS by 45.7% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 430,639 shares of the medical equipment provider’s stock valued at $109,176,000 after acquiring an additional 134,990 shares in the last quarter. Hedge funds and other institutional investors own 94.69% of the company’s stock.
Analysts Set New Price Targets
Several research analysts have recently commented on the company. KeyCorp reduced their price target on STERIS from $291.00 to $269.00 and set an “overweight” rating for the company in a research report on Wednesday, May 13th. Wall Street Zen downgraded STERIS from a “buy” rating to a “hold” rating in a research report on Saturday. UBS Group initiated coverage on STERIS in a research note on Tuesday. They issued a “buy” rating and a $275.00 target price on the stock. Piper Sandler reiterated an “overweight” rating and issued a $270.00 target price on shares of STERIS in a report on Thursday, May 21st. Finally, Weiss Ratings downgraded shares of STERIS from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, May 27th. Four investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $277.25.
Insider Buying and Selling at STERIS
In other STERIS news, Director Richard C. Breeden sold 1,481 shares of the stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $209.51, for a total value of $310,284.31. Following the completion of the sale, the director directly owned 38,964 shares in the company, valued at approximately $8,163,347.64. This trade represents a 3.66% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Daniel A. Carestio sold 1,374 shares of the firm’s stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $212.00, for a total value of $291,288.00. Following the completion of the sale, the chief executive officer directly owned 63,647 shares of the company’s stock, valued at approximately $13,493,164. This represents a 2.11% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 7,328 shares of company stock worth $1,554,051. 1.12% of the stock is owned by insiders.
STERIS Price Performance
NYSE STE opened at $228.75 on Friday. The firm’s fifty day simple moving average is $212.99 and its two-hundred day simple moving average is $226.56. The company has a current ratio of 2.09, a quick ratio of 1.54 and a debt-to-equity ratio of 0.25. STERIS plc has a 12-month low of $195.14 and a 12-month high of $269.44. The firm has a market capitalization of $22.29 billion, a P/E ratio of 28.85 and a beta of 0.92.
STERIS (NYSE:STE – Get Free Report) last issued its quarterly earnings results on Monday, May 11th. The medical equipment provider reported $2.83 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.86 by ($0.03). STERIS had a return on equity of 14.15% and a net margin of 13.18%.The business had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.59 billion. During the same period in the previous year, the company posted $2.74 earnings per share. The business’s revenue for the quarter was up 6.7% on a year-over-year basis. STERIS has set its FY 2027 guidance at 11.100-11.300 EPS. Analysts forecast that STERIS plc will post 11.17 EPS for the current fiscal year.
STERIS Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Friday, September 4th will be given a dividend of $0.69 per share. The ex-dividend date of this dividend is Friday, September 4th. This represents a $2.76 annualized dividend and a yield of 1.2%. This is an increase from STERIS’s previous quarterly dividend of $0.63. STERIS’s dividend payout ratio is currently 31.78%.
STERIS Company Profile
STERIS Corporation (NYSE: STE) is a global provider of infection prevention, contamination control and procedural products and services for the healthcare, life sciences, pharmaceutical and medical device industries. The company develops, manufactures and supports a broad portfolio of equipment and consumables designed to reduce risk of infection, maintain sterile environments and support critical clinical and manufacturing procedures.
Its offerings include sterilization and decontamination systems, instrument washers and washers-disinfectors, endoscope reprocessing solutions, surgical equipment and procedural disposables, and contamination-control products for cleanrooms and laboratories.
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