Diversify Wealth Management LLC Increases Stock Position in STERIS plc $STE

Diversify Wealth Management LLC raised its position in shares of STERIS plc (NYSE:STE) by 36.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 11,914 shares of the medical equipment provider’s stock after acquiring an additional 3,197 shares during the period. Diversify Wealth Management LLC’s holdings in STERIS were worth $2,534,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in STE. Jones Financial Companies Lllp increased its position in shares of STERIS by 46.1% during the first quarter. Jones Financial Companies Lllp now owns 1,106 shares of the medical equipment provider’s stock worth $251,000 after acquiring an additional 349 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in STERIS by 32.3% in the first quarter. Goldman Sachs Group Inc. now owns 242,732 shares of the medical equipment provider’s stock valued at $55,015,000 after purchasing an additional 59,264 shares during the last quarter. Empowered Funds LLC boosted its holdings in STERIS by 16.1% in the first quarter. Empowered Funds LLC now owns 2,303 shares of the medical equipment provider’s stock valued at $522,000 after purchasing an additional 319 shares during the last quarter. Woodline Partners LP boosted its holdings in STERIS by 40.0% in the first quarter. Woodline Partners LP now owns 8,300 shares of the medical equipment provider’s stock valued at $1,881,000 after purchasing an additional 2,372 shares during the last quarter. Finally, Jane Street Group LLC grew its stake in STERIS by 38.9% during the 1st quarter. Jane Street Group LLC now owns 20,716 shares of the medical equipment provider’s stock valued at $4,695,000 after purchasing an additional 5,803 shares in the last quarter. 94.69% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CEO Daniel A. Carestio sold 3,054 shares of STERIS stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $214.64, for a total transaction of $655,510.56. Following the transaction, the chief executive officer owned 65,021 shares in the company, valued at approximately $13,956,107.44. The trade was a 4.49% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP John Adam Zangerle sold 1,419 shares of STERIS stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $209.28, for a total value of $296,968.32. Following the transaction, the vice president directly owned 35,259 shares in the company, valued at approximately $7,379,003.52. This trade represents a 3.87% decrease in their position. 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 quarter, insiders have sold 7,328 shares of company stock valued at $1,554,051. 1.12% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

STE has been the subject of a number of research analyst reports. Wall Street Zen lowered shares of STERIS from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 6th. Piper Sandler reiterated an “overweight” rating and set a $270.00 price objective on shares of STERIS in a research note on Thursday, May 21st. KeyCorp decreased their price objective on shares of STERIS from $291.00 to $269.00 and set an “overweight” rating for the company in a report on Wednesday, May 13th. Finally, Weiss Ratings downgraded shares of STERIS from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, May 27th. Three equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, STERIS has a consensus rating of “Moderate Buy” and a consensus price target of $278.00.

STERIS Stock Up 0.4%

STE stock opened at $216.84 on Tuesday. The stock has a market cap of $21.13 billion, a PE ratio of 27.34 and a beta of 0.92. The firm’s 50-day simple moving average is $211.31 and its 200 day simple moving average is $230.02. STERIS plc has a fifty-two week low of $195.14 and a fifty-two week high of $269.44. The company has a quick ratio of 1.54, a current ratio of 2.09 and a debt-to-equity ratio of 0.25.

STERIS (NYSE:STE) last announced its earnings results on Monday, May 11th. The medical equipment provider reported $2.83 earnings per share for the quarter, missing the consensus estimate of $2.86 by ($0.03). The business had revenue of $1.59 billion for the quarter, compared to the consensus estimate of $1.59 billion. STERIS had a net margin of 13.18% and a return on equity of 14.15%. The firm’s revenue was up 6.7% on a year-over-year basis. During the same period in the previous year, the firm earned $2.74 EPS. STERIS has set its FY 2027 guidance at 11.100-11.300 EPS. As a group, sell-side analysts predict that STERIS plc will post 11.18 EPS for the current year.

STERIS Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 26th. Investors of record on Monday, June 8th were paid a $0.63 dividend. 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 (DPR) is currently 31.78%.

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.