Carnegie Investment Counsel Buys 3,323 Shares of STERIS plc $STE

Carnegie Investment Counsel grew its stake in STERIS plc (NYSE:STE) by 6.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 56,872 shares of the medical equipment provider’s stock after buying an additional 3,323 shares during the quarter. Carnegie Investment Counsel owned approximately 0.06% of STERIS worth $12,576,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in STE. Norges Bank purchased a new stake in STERIS in the 4th quarter worth approximately $320,298,000. AQR Capital Management LLC increased its stake in shares of STERIS by 178.6% in the third quarter. AQR Capital Management LLC now owns 1,183,070 shares of the medical equipment provider’s stock worth $291,704,000 after purchasing an additional 758,423 shares in the last quarter. Boston Partners bought a new stake in shares of STERIS during the 3rd quarter valued at $158,982,000. Orbis Allan Gray Ltd lifted 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 buying an additional 556,088 shares in the last quarter. Finally, State Street Corp boosted its holdings in STERIS by 6.0% in the 4th quarter. State Street Corp now owns 4,614,840 shares of the medical equipment provider’s stock worth $1,169,957,000 after buying an additional 260,001 shares during the period. 94.69% of the stock is owned by hedge funds and other institutional investors.

STERIS Trading Down 0.1%

Shares of NYSE STE traded down $0.24 during midday trading on Friday, hitting $215.76. The company’s stock had a trading volume of 582,912 shares, compared to its average volume of 800,373. The business’s 50 day moving average is $211.31 and its two-hundred day moving average is $230.46. The firm has a market cap of $21.03 billion, a P/E ratio of 27.21 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 12-month low of $195.14 and a 12-month high of $269.44.

STERIS (NYSE:STE) last issued its 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). The company had revenue of $1.59 billion for 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%. The firm’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 earnings per share. STERIS has set its FY 2027 guidance at 11.100-11.300 EPS. As a group, equities research analysts expect that STERIS plc will post 11.18 EPS for the current year.

STERIS Announces Dividend

The business 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. This represents a $2.52 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date was Monday, June 8th. STERIS’s dividend payout ratio is currently 31.78%.

Insider Activity

In other STERIS news, CEO Daniel A. Carestio sold 1,374 shares of the firm’s stock in a transaction on Friday, June 5th. The stock was sold at an average price of $212.00, for a total transaction of $291,288.00. Following the transaction, the chief executive officer directly owned 63,647 shares in the company, valued at $13,493,164. This trade represents a 2.11% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Richard C. Breeden sold 1,481 shares of STERIS stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $209.51, for a total value of $310,284.31. Following the sale, 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 ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 7,328 shares of company stock valued at $1,554,051. Corporate insiders own 1.12% of the company’s stock.

Analyst Upgrades and Downgrades

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