Hsbc Holdings PLC Sells 4,094 Shares of STERIS plc $STE

Hsbc Holdings PLC lowered its stake in STERIS plc (NYSE:STE) by 9.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 38,965 shares of the medical equipment provider’s stock after selling 4,094 shares during the period. Hsbc Holdings PLC’s holdings in STERIS were worth $9,943,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of STE. Nordea Investment Management AB grew its holdings in shares of STERIS by 259.0% during the fourth quarter. Nordea Investment Management AB now owns 51,602 shares of the medical equipment provider’s stock worth $13,165,000 after purchasing an additional 37,228 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of STERIS by 9.4% in the third quarter. Dimensional Fund Advisors LP now owns 1,039,351 shares of the medical equipment provider’s stock valued at $257,157,000 after buying an additional 89,250 shares during the period. Legal & General Group Plc raised its holdings in STERIS by 5.3% in the 3rd quarter. Legal & General Group Plc now owns 693,116 shares of the medical equipment provider’s stock valued at $171,505,000 after buying an additional 34,981 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in STERIS by 40.8% in 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. Finally, Elo Mutual Pension Insurance Co acquired a new stake in STERIS during the 3rd quarter worth approximately $2,480,000. Institutional investors own 94.69% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on STE shares. KeyCorp reduced their target price 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. Weiss Ratings lowered shares of STERIS from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, May 27th. Piper Sandler reissued an “overweight” rating and issued a $270.00 price objective on shares of STERIS in a research note on Thursday, May 21st. Finally, Wall Street Zen downgraded STERIS from a “strong-buy” rating to a “buy” rating in a report on Saturday, June 6th. Three analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $278.00.

STERIS Stock Performance

NYSE:STE opened at $215.59 on Friday. The company has a market capitalization of $21.01 billion, a PE ratio of 27.19 and a beta of 0.93. The company has a 50 day simple moving average of $212.77 and a two-hundred day simple moving average of $233.29. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.54 and a current ratio of 2.09. STERIS plc has a fifty-two week low of $195.14 and a fifty-two week high of $269.44.

STERIS (NYSE:STE) last issued its quarterly earnings results on Monday, May 11th. The medical equipment provider reported $2.83 earnings per share (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 last year, the firm posted $2.74 EPS. The firm’s revenue for the quarter was up 6.7% on a year-over-year basis. 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 Dividend Announcement

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

Insiders Place Their Bets

In related news, Director Richard C. Breeden sold 1,481 shares of the company’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 sale, the director owned 38,964 shares in the company, valued at $8,163,347.64. This represents a 3.66% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Daniel A. Carestio sold 1,374 shares of STERIS stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $212.00, for a total value of $291,288.00. Following the completion of the sale, the chief executive officer owned 63,647 shares of the company’s stock, valued at approximately $13,493,164. The trade was a 2.11% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 7,328 shares of company stock worth $1,554,051. Company insiders own 1.12% of the company’s stock.

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.