Dearborn Partners LLC purchased a new position in shares of STERIS plc (NYSE:STE – Free Report) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 94,546 shares of the medical equipment provider’s stock, valued at approximately $19,908,000.
Other large investors also recently added to or reduced their stakes in the company. Bailard Inc. increased its holdings in STERIS by 3.5% in the 4th quarter. Bailard Inc. now owns 1,118 shares of the medical equipment provider’s stock worth $283,000 after acquiring an additional 38 shares during the last quarter. Geneos Wealth Management Inc. lifted its holdings in STERIS by 34.9% during the second quarter. Geneos Wealth Management Inc. now owns 174 shares of the medical equipment provider’s stock valued at $42,000 after purchasing an additional 45 shares during the last quarter. Clear Harbor Asset Management LLC boosted its position in STERIS by 3.8% during the fourth quarter. Clear Harbor Asset Management LLC now owns 1,350 shares of the medical equipment provider’s stock worth $342,000 after purchasing an additional 50 shares during the period. apricus wealth LLC boosted its position in STERIS by 3.6% during the first quarter. apricus wealth LLC now owns 1,506 shares of the medical equipment provider’s stock worth $333,000 after purchasing an additional 53 shares during the period. Finally, Northwestern Mutual Wealth Management Co. increased its stake in shares of STERIS by 2.4% in the third quarter. Northwestern Mutual Wealth Management Co. now owns 2,261 shares of the medical equipment provider’s stock worth $560,000 after purchasing an additional 53 shares in the last quarter. Hedge funds and other institutional investors own 94.69% of the company’s stock.
Insider Activity
In other news, CEO Daniel A. Carestio sold 3,054 shares of the company’s stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $214.64, for a total value of $655,510.56. Following the transaction, the chief executive officer owned 65,021 shares of the company’s stock, valued at approximately $13,956,107.44. This represents a 4.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Richard C. Breeden sold 1,481 shares of the stock in a transaction on 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 owned 38,964 shares in the company, valued at $8,163,347.64. This trade represents a 3.66% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 11,386 shares of company stock valued at $2,510,846 in the last quarter. 1.12% of the stock is currently owned by company insiders.
STERIS Stock Down 1.6%
STERIS (NYSE:STE – Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The medical equipment provider reported $2.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.49 by $0.10. STERIS had a net margin of 13.34% and a return on equity of 14.34%. The firm had revenue of $1.49 billion for the quarter, compared to the consensus estimate of $1.49 billion. During the same period in the prior year, the firm posted $2.34 earnings per share. The company’s revenue for the quarter was up 7.3% on a year-over-year basis. STERIS has set its FY 2027 guidance at 11.000-11.300 EPS. On average, equities analysts predict that STERIS plc will post 11.09 EPS for the current fiscal year.
STERIS Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Friday, September 4th will be paid a $0.69 dividend. The ex-dividend date is Friday, September 4th. This represents a $2.76 annualized dividend and a yield of 1.2%. This is a boost from STERIS’s previous quarterly dividend of $0.63. STERIS’s dividend payout ratio is currently 30.81%.
Analysts Set New Price Targets
Several research firms have recently issued reports on STE. Wall Street Zen raised shares of STERIS from a “hold” rating to a “buy” rating in a research report on Sunday, August 9th. KeyCorp cut their price objective on shares of STERIS from $291.00 to $269.00 and set an “overweight” rating for the company in a report on Wednesday, May 13th. Weiss Ratings reiterated a “hold (c)” rating on shares of STERIS in a research note on Monday. Piper Sandler reissued an “overweight” rating and set a $275.00 target price (up from $270.00) on shares of STERIS in a report on Friday, August 7th. Finally, UBS Group lowered their target price on shares of STERIS from $275.00 to $270.00 and set a “buy” rating on the stock in a report on Friday, August 7th. Three research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $271.33.
Get Our Latest Stock Analysis on STERIS
About STERIS
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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