Sterling Capital Management LLC Sells 2,514 Shares of STERIS plc $STE

Sterling Capital Management LLC lowered its position in shares of STERIS plc (NYSE:STE) by 43.2% in the first quarter, Holdings Channel reports. The firm owned 3,307 shares of the medical equipment provider’s stock after selling 2,514 shares during the period. Sterling Capital Management LLC’s holdings in STERIS were worth $731,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Nordea Investment Management AB lifted its holdings in 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 acquiring an additional 37,228 shares in the last quarter. Legal & General Group Plc increased its holdings in shares of STERIS by 5.3% in the third quarter. Legal & General Group Plc now owns 693,116 shares of the medical equipment provider’s stock worth $171,505,000 after acquiring an additional 34,981 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of STERIS by 9.4% during the third quarter. Dimensional Fund Advisors LP now owns 1,039,351 shares of the medical equipment provider’s stock worth $257,157,000 after purchasing an additional 89,250 shares during the period. Goldman Sachs Group Inc. raised its position in shares of STERIS by 40.8% during the fourth quarter. Goldman Sachs Group Inc. now owns 633,530 shares of the medical equipment provider’s stock worth $160,613,000 after purchasing an additional 183,680 shares during the period. Finally, Groupama Asset Managment bought a new position in shares of STERIS during the 3rd quarter valued at about $1,163,000. Institutional investors own 94.69% of the company’s stock.

Insider Transactions at STERIS

In other STERIS news, VP John Adam Zangerle sold 1,419 shares of the stock in a transaction 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 completion of the sale, the vice president owned 35,259 shares in the company, valued at $7,379,003.52. This trade represents a 3.87% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Daniel A. Carestio sold 1,374 shares of the firm’s stock in a transaction that occurred on Friday, June 5th. The shares were 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 directly 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 disclosure for this sale is available in the SEC filing. 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 90 days. Corporate insiders own 1.12% of the company’s stock.

Wall Street Analysts Forecast Growth

STE has been the subject of a number of research reports. KeyCorp lowered their target price on STERIS from $291.00 to $269.00 and set an “overweight” rating for the company in a research note on Wednesday, May 13th. Piper Sandler reaffirmed an “overweight” rating and issued a $270.00 price target on shares of STERIS in a research note on Thursday, May 21st. Wall Street Zen cut shares of STERIS from a “strong-buy” rating to a “buy” rating in a report on Saturday, June 6th. 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 investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $278.00.

STERIS Stock Performance

Shares of STE opened at $212.26 on Thursday. STERIS plc has a 12 month low of $195.14 and a 12 month high of $269.44. The firm has a fifty day simple moving average of $212.05 and a 200 day simple moving average of $232.16. The stock has a market capitalization of $20.69 billion, a price-to-earnings ratio of 26.77 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 (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 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 during the quarter, compared to analyst estimates of $1.59 billion. During the same quarter in the previous year, the firm posted $2.74 earnings per share. The firm’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 forecast that STERIS plc will post 11.18 EPS for the current fiscal year.

STERIS Announces Dividend

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

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.