Allstate Corp Increases Stake in STERIS plc $STE

Allstate Corp increased its holdings in shares of STERIS plc (NYSE:STE) by 102.9% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 7,206 shares of the medical equipment provider’s stock after purchasing an additional 3,654 shares during the period. Allstate Corp’s holdings in STERIS were worth $1,827,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of STE. AQR Capital Management LLC increased its position in shares of STERIS by 178.6% in the 3rd quarter. AQR Capital Management LLC now owns 1,183,070 shares of the medical equipment provider’s stock valued at $291,704,000 after purchasing an additional 758,423 shares during the last quarter. Boston Partners purchased a new stake in shares of STERIS in the 3rd quarter valued at approximately $158,982,000. Orbis Allan Gray Ltd increased its position in shares of STERIS by 36.0% in the 2nd quarter. Orbis Allan Gray Ltd now owns 2,100,099 shares of the medical equipment provider’s stock valued at $504,486,000 after purchasing an additional 556,088 shares during the last quarter. Thrivent Financial for Lutherans boosted its holdings in shares of STERIS by 246.4% in the 3rd quarter. Thrivent Financial for Lutherans now owns 553,834 shares of the medical equipment provider’s stock valued at $137,041,000 after buying an additional 393,970 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in shares of STERIS by 16.4% in the 3rd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,567,238 shares of the medical equipment provider’s stock valued at $387,797,000 after buying an additional 221,199 shares in the last quarter. 94.69% of the stock is owned by hedge funds and other institutional investors.

STERIS Price Performance

Shares of STE opened at $215.54 on Friday. STERIS plc has a twelve month low of $195.14 and a twelve month high of $269.44. The stock’s 50 day moving average is $218.32 and its two-hundred day moving average is $241.13. The firm has a market capitalization of $21.14 billion, a PE ratio of 27.18 and a beta of 0.95. 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 (NYSE:STE) last announced its quarterly earnings data on Monday, May 11th. The medical equipment provider reported $2.83 earnings per share for the quarter, missing analysts’ consensus estimates of $2.86 by ($0.03). The business had revenue of $1.59 billion during the quarter, compared to analysts’ expectations of $1.59 billion. STERIS had a net margin of 13.18% and a return on equity of 14.15%. STERIS’s revenue for the quarter was up 6.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.74 EPS. STERIS has set its FY 2027 guidance at 11.100-11.300 EPS. Research analysts anticipate that STERIS plc will post 11.18 earnings per share for the current year.

STERIS Announces Dividend

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

Insider Activity

In other news, Director Cynthia L. Feldmann sold 3,098 shares of the stock in a transaction dated Thursday, March 5th. The shares were sold at an average price of $237.21, for a total value of $734,876.58. Following the completion of the transaction, the director owned 705 shares in the company, valued at $167,233.05. This trade represents a 81.46% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.07% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Wall Street Zen upgraded shares of STERIS from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 16th. KeyCorp decreased their price target 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. Finally, Piper Sandler reiterated an “overweight” rating and set a $270.00 price target on shares of STERIS in a research note on Thursday, May 21st. Three research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, STERIS has a consensus rating of “Moderate Buy” and a consensus price target 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.