Dearborn Partners LLC Sells 3,997 Shares of STERIS plc $STE

Dearborn Partners LLC trimmed its stake in shares of STERIS plc (NYSE:STE) by 3.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 114,224 shares of the medical equipment provider’s stock after selling 3,997 shares during the quarter. STERIS accounts for about 1.4% of Dearborn Partners LLC’s holdings, making the stock its 28th largest position. Dearborn Partners LLC owned about 0.12% of STERIS worth $28,958,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in STE. Norges Bank bought a new stake in shares of STERIS during the 4th quarter valued at $320,298,000. AQR Capital Management LLC raised its stake in shares of STERIS by 178.6% during 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 period. Boston Partners bought a new stake in shares of STERIS during the 3rd quarter valued at $158,982,000. Orbis Allan Gray Ltd raised its stake in shares of STERIS by 36.0% during 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 period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in shares of STERIS by 16.4% during 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 purchasing an additional 221,199 shares during the period. 94.69% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

STERIS Price Performance

STERIS stock opened at $212.13 on Friday. STERIS plc has a 52 week low of $195.14 and a 52 week high of $269.44. The business has a 50-day simple moving average of $217.24 and a 200 day simple moving average of $239.09. The company has a quick ratio of 1.54, a current ratio of 2.09 and a debt-to-equity ratio of 0.25. The stock has a market cap of $20.70 billion, a price-to-earnings ratio of 26.75 and a beta of 0.93.

STERIS (NYSE:STE) last posted its earnings results on Monday, May 11th. The medical equipment provider reported $2.83 EPS for the quarter, missing the consensus estimate of $2.86 by ($0.03). STERIS had a return on equity of 14.15% and a net margin of 13.18%.The business had revenue of $1.59 billion for the quarter, compared to analysts’ expectations of $1.59 billion. During the same quarter in the previous year, the firm earned $2.74 earnings per share. STERIS’s quarterly 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. On average, research analysts forecast that STERIS plc will post 11.18 earnings per share for the current fiscal year.

STERIS Announces Dividend

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

Insider Buying and Selling at STERIS

In related news, Director Richard C. Breeden sold 1,481 shares of the firm’s stock in a transaction dated 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. This trade represents a 3.66% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 1.07% of the company’s stock.

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.