Bank of Nova Scotia Trims Holdings in STERIS plc $STE

Bank of Nova Scotia lessened its stake in STERIS plc (NYSE:STE) by 32.6% in the second quarter, Holdings Channel reports. The institutional investor owned 41,645 shares of the medical equipment provider’s stock after selling 20,117 shares during the quarter. Bank of Nova Scotia’s holdings in STERIS were worth $10,004,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in STE. Allworth Financial LP grew its holdings in STERIS by 7.3% during the 2nd quarter. Allworth Financial LP now owns 661 shares of the medical equipment provider’s stock worth $159,000 after acquiring an additional 45 shares in the last quarter. Ashton Thomas Private Wealth LLC lifted its position in shares of STERIS by 3.5% during the first quarter. Ashton Thomas Private Wealth LLC now owns 1,611 shares of the medical equipment provider’s stock worth $365,000 after purchasing an additional 54 shares during the last quarter. Horizon Investments LLC grew its stake in STERIS by 4.7% in the first quarter. Horizon Investments LLC now owns 1,410 shares of the medical equipment provider’s stock worth $320,000 after purchasing an additional 63 shares in the last quarter. Berry Wealth Group LP grew its stake in STERIS by 5.3% in the second quarter. Berry Wealth Group LP now owns 1,251 shares of the medical equipment provider’s stock worth $300,000 after purchasing an additional 63 shares in the last quarter. Finally, Alliance Wealth Advisors LLC UT increased its holdings in STERIS by 2.0% in the first quarter. Alliance Wealth Advisors LLC UT now owns 3,305 shares of the medical equipment provider’s stock valued at $749,000 after buying an additional 64 shares during the last quarter. 94.69% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other STERIS news, CEO Daniel A. Carestio sold 159 shares of the business’s stock in a transaction dated Monday, October 6th. The shares were sold at an average price of $241.82, for a total transaction of $38,449.38. Following the sale, the chief executive officer directly owned 51,096 shares in the company, valued at approximately $12,356,034.72. The trade was a 0.31% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Renato Tamaro sold 5,036 shares of the company’s stock in a transaction that occurred on Tuesday, November 18th. The stock was sold at an average price of $257.55, for a total transaction of $1,297,021.80. Following the completion of the sale, the vice president directly owned 5,695 shares of the company’s stock, valued at approximately $1,466,747.25. This represents a 46.93% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 25,203 shares of company stock valued at $6,624,667 over the last three months. 1.07% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages have recently commented on STE. Weiss Ratings reiterated a “buy (b)” rating on shares of STERIS in a research report on Tuesday, October 14th. Wall Street Zen upgraded STERIS from a “buy” rating to a “strong-buy” rating in a research note on Sunday, September 14th. Seven investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $273.50.

STERIS Price Performance

NYSE STE opened at $258.90 on Thursday. The company has a 50-day moving average price of $250.86 and a two-hundred day moving average price of $243.72. STERIS plc has a 52 week low of $200.98 and a 52 week high of $268.60. The stock has a market cap of $25.41 billion, a price-to-earnings ratio of 37.20 and a beta of 1.01. The company has a current ratio of 2.37, a quick ratio of 1.63 and a debt-to-equity ratio of 0.27.

STERIS (NYSE:STE) last issued its quarterly earnings data on Wednesday, November 5th. The medical equipment provider reported $2.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.38 by $0.09. STERIS had a return on equity of 14.43% and a net margin of 12.07%.The business had revenue of $1.46 billion during the quarter, compared to the consensus estimate of $1.43 billion. During the same period in the previous year, the firm posted $2.14 earnings per share. STERIS has set its FY 2026 guidance at 10.150-10.30 EPS. Analysts forecast that STERIS plc will post 9.08 EPS for the current year.

STERIS Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 18th. Stockholders of record on Tuesday, November 18th will be paid a $0.63 dividend. The ex-dividend date of this dividend is Tuesday, November 18th. This represents a $2.52 annualized dividend and a dividend yield of 1.0%. STERIS’s dividend payout ratio is presently 36.21%.

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.