Bank of New York Mellon Corp Cuts Holdings in STERIS plc $STE

Bank of New York Mellon Corp decreased its position in STERIS plc (NYSE:STE) by 2.7% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 542,859 shares of the medical equipment provider’s stock after selling 15,179 shares during the period. Bank of New York Mellon Corp’s holdings in STERIS were worth $137,626,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in STE. Goldman Sachs Group Inc. increased its stake in shares of STERIS by 40.8% during the fourth quarter. Goldman Sachs Group Inc. now owns 633,530 shares of the medical equipment provider’s stock worth $160,613,000 after purchasing an additional 183,680 shares in the last quarter. Fiduciary Family Office LLC increased its stake in shares of STERIS by 64.6% during the fourth quarter. Fiduciary Family Office LLC now owns 4,529 shares of the medical equipment provider’s stock worth $1,148,000 after purchasing an additional 1,777 shares in the last quarter. AXQ Capital LP purchased a new stake in shares of STERIS during the fourth quarter worth about $524,000. New Mexico Educational Retirement Board increased its stake in shares of STERIS by 2.2% during the fourth quarter. New Mexico Educational Retirement Board now owns 4,550 shares of the medical equipment provider’s stock worth $1,154,000 after purchasing an additional 100 shares in the last quarter. Finally, Rothschild Wealth LLC purchased a new stake in shares of STERIS during the fourth quarter worth about $354,000. Hedge funds and other institutional investors own 94.69% of the company’s stock.

Insiders Place Their Bets

In related news, Director Richard C. Breeden sold 1,481 shares of STERIS stock in a transaction that occurred on Tuesday, June 2nd. The shares were 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 approximately $8,163,347.64. This trade represents a 3.66% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.07% of the company’s stock.

STERIS Stock Performance

NYSE:STE opened at $212.13 on Friday. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.09 and a quick ratio of 1.54. The firm has a market capitalization of $20.70 billion, a price-to-earnings ratio of 26.75 and a beta of 0.93. The company’s 50-day moving average is $217.24 and its two-hundred day moving average is $239.09. STERIS plc has a 1-year low of $195.14 and a 1-year high of $269.44.

STERIS (NYSE:STE) last posted its earnings results on Monday, May 11th. The medical equipment provider reported $2.83 earnings per share for the quarter, missing the consensus estimate of $2.86 by ($0.03). The firm had revenue of $1.59 billion during the quarter, compared to analyst estimates of $1.59 billion. STERIS had a net margin of 13.18% and a return on equity of 14.15%. The business’s revenue for the quarter was up 6.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.74 earnings per share. STERIS has set its FY 2027 guidance at 11.100-11.300 EPS. Analysts forecast that STERIS plc will post 11.18 EPS for the current year.

STERIS Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 26th. Investors of record on Monday, June 8th will be issued a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 1.2%. The ex-dividend date is Monday, June 8th. STERIS’s dividend payout ratio (DPR) is 31.78%.

Analyst Ratings Changes

A number of analysts have recently commented on the stock. KeyCorp cut their target price on shares of STERIS from $291.00 to $269.00 and set an “overweight” rating for the company in a research note on Wednesday, May 13th. Weiss Ratings cut shares of STERIS from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday, May 27th. Wall Street Zen lowered shares of STERIS from a “strong-buy” rating to a “buy” rating in a research report on Saturday. Finally, Piper Sandler restated an “overweight” rating and set a $270.00 price target on shares of STERIS in a research report on Thursday, May 21st. Three research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, STERIS has an average rating of “Moderate Buy” and a consensus target price of $278.00.

STERIS 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.