ExodusPoint Capital Management LP Takes Position in STERIS plc $STE

ExodusPoint Capital Management LP acquired a new stake in STERIS plc (NYSE:STE) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 73,030 shares of the medical equipment provider’s stock, valued at approximately $18,515,000. ExodusPoint Capital Management LP owned 0.07% of STERIS at the end of the most recent quarter.

Several other large investors have also modified their holdings of STE. Norges Bank acquired a new stake in shares of STERIS in the fourth quarter valued at approximately $320,298,000. AQR Capital Management LLC boosted its holdings in shares of STERIS by 178.6% in the third quarter. AQR Capital Management LLC now owns 1,183,070 shares of the medical equipment provider’s stock valued at $291,704,000 after acquiring an additional 758,423 shares during the period. Boston Partners acquired a new stake in shares of STERIS in the third quarter valued at approximately $158,982,000. Orbis Allan Gray Ltd boosted its holdings in shares of STERIS by 36.0% in the second quarter. Orbis Allan Gray Ltd now owns 2,100,099 shares of the medical equipment provider’s stock valued at $504,486,000 after acquiring an additional 556,088 shares during the period. Finally, State Street Corp boosted its holdings in shares of STERIS by 6.0% in the fourth quarter. State Street Corp now owns 4,614,840 shares of the medical equipment provider’s stock valued at $1,169,957,000 after acquiring an additional 260,001 shares during the period. 94.69% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, VP John Adam Zangerle sold 1,419 shares of the firm’s stock in a transaction on Monday, June 15th. The stock was sold at an average price of $209.28, for a total value of $296,968.32. Following the completion of the transaction, the vice president owned 35,259 shares in the company, valued at $7,379,003.52. This trade represents a 3.87% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Daniel A. Carestio sold 3,054 shares of the firm’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 completion of 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 position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 7,328 shares of company stock worth $1,554,051 over the last 90 days. 1.12% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on STE. Piper Sandler reissued an “overweight” rating and issued a $270.00 price objective on shares of STERIS in a report on Thursday, May 21st. KeyCorp decreased their price target on STERIS from $291.00 to $269.00 and set an “overweight” rating for the company in a report on Wednesday, May 13th. Wall Street Zen downgraded STERIS from a “strong-buy” rating to a “buy” rating in a report on Saturday, June 6th. Finally, Weiss Ratings downgraded STERIS from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, May 27th. Three analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $278.00.

STERIS Price Performance

STERIS stock opened at $206.64 on Wednesday. STERIS plc has a one year low of $195.14 and a one year high of $269.44. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.54 and a current ratio of 2.09. The business has a fifty day moving average of $215.59 and a two-hundred day moving average of $236.34. The company has a market cap of $20.14 billion, a P/E ratio of 26.06 and a beta of 0.93.

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

STERIS Announces Dividend

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

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.