Arrowstreet Capital Limited Partnership Has $114.88 Million Holdings in STERIS plc $STE

Arrowstreet Capital Limited Partnership lifted its holdings in STERIS plc (NYSE:STE) by 20.6% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 519,511 shares of the medical equipment provider’s stock after acquiring an additional 88,872 shares during the quarter. Arrowstreet Capital Limited Partnership’s holdings in STERIS were worth $114,879,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. lifted its holdings in shares of STERIS by 40.8% during the 4th quarter. Goldman Sachs Group Inc. now owns 633,530 shares of the medical equipment provider’s stock valued at $160,613,000 after buying an additional 183,680 shares during the last quarter. Kornitzer Capital Management Inc. KS bought a new position in STERIS during the first quarter valued at approximately $5,506,000. Cerity Partners LLC lifted its stake in STERIS by 116.7% in the fourth quarter. Cerity Partners LLC now owns 209,923 shares of the medical equipment provider’s stock valued at $53,220,000 after acquiring an additional 113,070 shares during the last quarter. Eventide Asset Management LLC lifted its stake in STERIS by 8.8% in the fourth quarter. Eventide Asset Management LLC now owns 190,483 shares of the medical equipment provider’s stock valued at $48,326,000 after acquiring an additional 15,416 shares during the last quarter. Finally, V Square Quantitative Management LLC bought a new stake in STERIS in the fourth quarter worth approximately $676,000. Institutional investors and hedge funds own 94.69% of the company’s stock.

STERIS Trading Up 1.7%

Shares of STE opened at $214.16 on Friday. The stock has a market cap of $20.87 billion, a PE ratio of 27.01 and a beta of 0.92. STERIS plc has a 1 year low of $195.14 and a 1 year high of $269.44. The company has a current ratio of 2.09, a quick ratio of 1.54 and a debt-to-equity ratio of 0.25. The stock has a 50 day simple moving average of $211.69 and a 200-day simple moving average of $227.60.

STERIS (NYSE:STE) last announced its quarterly earnings data 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 return on equity of 14.15% and a net margin of 13.18%.The firm had revenue of $1.59 billion during the quarter, compared to analyst estimates of $1.59 billion. During the same quarter in the previous year, the business earned $2.74 earnings per share. STERIS’s revenue for the quarter was up 6.7% compared to the same quarter last year. STERIS has set its FY 2027 guidance at 11.100-11.300 EPS. On average, sell-side analysts predict that STERIS plc will post 11.18 EPS for the current fiscal year.

STERIS Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 26th. Shareholders of record on Monday, June 8th were paid a $0.63 dividend. The ex-dividend date was Monday, June 8th. This represents a $2.52 annualized dividend and a yield of 1.2%. STERIS’s payout ratio is presently 31.78%.

Insiders Place Their Bets

In related news, Director Richard C. Breeden sold 1,481 shares of the business’s stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $209.51, for a total transaction of $310,284.31. Following the transaction, the director directly owned 38,964 shares of the company’s stock, valued at approximately $8,163,347.64. The trade was a 3.66% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Daniel A. Carestio sold 3,054 shares of the company’s stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $214.64, for a total transaction of $655,510.56. Following the completion of the transaction, the chief executive officer owned 65,021 shares in the company, valued at approximately $13,956,107.44. This trade represents a 4.49% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 7,328 shares of company stock valued at $1,554,051 in the last quarter. 1.12% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

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