Rathbones Group PLC Sells 6,406 Shares of STERIS plc $STE

Rathbones Group PLC decreased its position in shares of STERIS plc (NYSE:STE) by 6.0% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 100,231 shares of the medical equipment provider’s stock after selling 6,406 shares during the quarter. Rathbones Group PLC owned approximately 0.10% of STERIS worth $22,164,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Goldman Sachs Group Inc. grew its holdings in STERIS by 40.8% during 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 in the last quarter. Kornitzer Capital Management Inc. KS purchased a new position in shares of STERIS in the first quarter worth $5,506,000. Cerity Partners LLC lifted its holdings in shares of STERIS by 116.7% in the fourth quarter. Cerity Partners LLC now owns 209,923 shares of the medical equipment provider’s stock worth $53,220,000 after buying an additional 113,070 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its position in shares of STERIS by 45.7% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 430,639 shares of the medical equipment provider’s stock worth $109,176,000 after acquiring an additional 134,990 shares during the last quarter. Finally, V Square Quantitative Management LLC purchased a new position in STERIS during the fourth quarter valued at $676,000. Institutional investors own 94.69% of the company’s stock.

Insider Transactions at STERIS

In other news, Director Richard C. Breeden sold 1,481 shares of STERIS 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 transaction, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP John Adam Zangerle sold 1,419 shares of the business’s 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 transaction, the vice president directly owned 35,259 shares in the company, valued at approximately $7,379,003.52. This 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. In the last 90 days, insiders sold 7,328 shares of company stock worth $1,554,051. 1.12% of the stock is currently owned by company insiders.

STERIS Stock Performance

Shares of NYSE:STE opened at $232.54 on Tuesday. STERIS plc has a 52 week low of $195.14 and a 52 week high of $269.44. The stock has a market capitalization of $22.66 billion, a P/E ratio of 29.32 and a beta of 0.91. The firm has a fifty day simple moving average of $213.31 and a two-hundred day simple moving average of $226.13. 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 posted its earnings results on Monday, May 11th. The medical equipment provider reported $2.83 earnings per share for the quarter, missing analysts’ consensus estimates of $2.86 by ($0.03). The business had revenue of $1.59 billion during the quarter, compared to the consensus estimate of $1.59 billion. STERIS had a return on equity of 14.15% and a net margin of 13.18%.The business’s quarterly revenue was up 6.7% on a year-over-year basis. During the same quarter last year, the firm earned $2.74 earnings per share. STERIS has set its FY 2027 guidance at 11.100-11.300 EPS. On average, analysts expect that STERIS plc will post 11.17 earnings per share for the current fiscal year.

STERIS Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Friday, September 4th will be paid a $0.69 dividend. This represents a $2.76 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend is Friday, September 4th. This is a positive change from STERIS’s previous quarterly dividend of $0.63. STERIS’s dividend payout ratio is 31.78%.

Analysts Set New Price Targets

A number of analysts have issued reports on STE shares. UBS Group initiated coverage on shares of STERIS in a report on Tuesday, July 28th. They issued a “buy” rating and a $275.00 price target on the stock. Wall Street Zen downgraded shares of STERIS from a “buy” rating to a “hold” rating in a report on Saturday. Weiss Ratings lowered STERIS from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, May 27th. KeyCorp reduced their target price on STERIS from $291.00 to $269.00 and set an “overweight” rating on the stock in a report on Wednesday, May 13th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $270.00 target price on shares of STERIS in a research report on Thursday, May 21st. Four equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $277.25.

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.