Bessemer Group Inc. Increases Stock Position in STERIS plc $STE

Bessemer Group Inc. raised its stake in shares of STERIS plc (NYSE:STE) by 8.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,048,636 shares of the medical equipment provider’s stock after purchasing an additional 85,188 shares during the quarter. Bessemer Group Inc.’s holdings in STERIS were worth $231,883,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of STE. Board of the Pension Protection Fund bought a new position in shares of STERIS in the 4th quarter worth $25,000. Harbor Investment Advisory LLC lifted its holdings in shares of STERIS by 115.4% during the 4th quarter. Harbor Investment Advisory LLC now owns 112 shares of the medical equipment provider’s stock worth $28,000 after acquiring an additional 60 shares during the last quarter. Activest Wealth Management grew its position in STERIS by 423.8% in the fourth quarter. Activest Wealth Management now owns 110 shares of the medical equipment provider’s stock worth $28,000 after acquiring an additional 89 shares in the last quarter. Measured Wealth Private Client Group LLC purchased a new position in STERIS in the fourth quarter worth $28,000. Finally, Geneos Wealth Management Inc. increased its stake in STERIS by 416.0% in the first quarter. Geneos Wealth Management Inc. now owns 129 shares of the medical equipment provider’s stock valued at $29,000 after acquiring an additional 104 shares during the last quarter. Hedge funds and other institutional investors own 94.69% of the company’s stock.

STERIS Stock Performance

STERIS stock opened at $221.12 on Friday. 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 company has a market capitalization of $21.55 billion, a PE ratio of 27.88 and a beta of 0.92. The firm has a fifty day simple moving average of $211.29 and a two-hundred day simple moving average of $229.13. STERIS plc has a twelve month low of $195.14 and a twelve month high of $269.44.

STERIS (NYSE:STE) last posted its quarterly earnings results on Monday, May 11th. The medical equipment provider reported $2.83 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.86 by ($0.03). STERIS had a net margin of 13.18% and a return on equity of 14.15%. 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 company earned $2.74 earnings per share. The business’s quarterly revenue 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 expect that STERIS plc will post 11.18 EPS for the current year.

STERIS Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 26th. Investors of record on Monday, June 8th were issued a dividend of $0.63 per share. The ex-dividend date was Monday, June 8th. This represents a $2.52 annualized dividend and a yield of 1.1%. STERIS’s dividend payout ratio is currently 31.78%.

Insider Buying and Selling

In other STERIS news, Director Richard C. Breeden sold 1,481 shares of the business’s stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $209.51, for a total value of $310,284.31. Following the completion of the sale, the director owned 38,964 shares in the company, valued at approximately $8,163,347.64. The trade was a 3.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP John Adam Zangerle sold 1,419 shares of the stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $209.28, for a total value of $296,968.32. Following the sale, the vice president directly owned 35,259 shares of the company’s stock, valued at approximately $7,379,003.52. This trade represents a 3.87% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 7,328 shares of company stock worth $1,554,051 in the last ninety days. 1.12% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Wall Street Zen downgraded STERIS from a “strong-buy” rating to a “buy” rating in a research report on Saturday, June 6th. KeyCorp cut their price objective on STERIS from $291.00 to $269.00 and set an “overweight” rating for the company in a report on Wednesday, May 13th. Piper Sandler reiterated an “overweight” rating and set a $270.00 price objective on shares of STERIS in a research report on Thursday, May 21st. Finally, Weiss Ratings cut STERIS from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, May 27th. Three investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $278.00.

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.