Andra AP fonden Raises Stock Holdings in STERIS plc $STE

Andra AP fonden lifted its stake in shares of STERIS plc (NYSE:STE) by 10.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 42,073 shares of the medical equipment provider’s stock after buying an additional 3,973 shares during the quarter. Andra AP fonden’s holdings in STERIS were worth $9,304,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Trust Co. of Vermont raised its holdings in shares of STERIS by 30.2% during the fourth quarter. Trust Co. of Vermont now owns 164 shares of the medical equipment provider’s stock worth $42,000 after purchasing an additional 38 shares during the period. Bailard Inc. raised its stake in STERIS by 3.5% during the fourth 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 period. Geneos Wealth Management Inc. boosted its stake in STERIS by 34.9% in the second quarter. Geneos Wealth Management Inc. now owns 174 shares of the medical equipment provider’s stock valued at $42,000 after acquiring an additional 45 shares during the period. Ascent Group LLC grew its holdings in shares of STERIS by 4.9% during the fourth quarter. Ascent Group LLC now owns 1,009 shares of the medical equipment provider’s stock valued at $256,000 after purchasing an additional 47 shares during the last quarter. Finally, Clear Harbor Asset Management LLC grew its holdings in shares of 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 valued at $342,000 after purchasing an additional 50 shares during the last quarter. Institutional investors own 94.69% of the company’s stock.

Insider Activity at STERIS

In other news, CEO Daniel A. Carestio sold 3,054 shares of the stock in a transaction that occurred 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 sale, the chief executive officer directly owned 65,021 shares of the company’s stock, valued at $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 Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Richard C. Breeden sold 1,481 shares of the business’s stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $209.51, for a total transaction of $310,284.31. Following the transaction, the director owned 38,964 shares in the company, valued at approximately $8,163,347.64. This represents a 3.66% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 7,328 shares of company stock valued at $1,554,051. Company insiders own 1.12% of the company’s stock.

Analyst Ratings Changes

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

STERIS Stock Performance

NYSE:STE opened at $211.49 on Wednesday. The company has a 50-day moving average of $211.75 and a 200-day moving average of $228.27. The firm has a market cap of $20.61 billion, a price-to-earnings ratio of 26.67 and a beta of 0.92. 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 twelve month low of $195.14 and a twelve month high of $269.44.

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

STERIS Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 26th. Investors of record on Monday, June 8th were given a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend was Monday, June 8th. STERIS’s payout ratio is presently 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.