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

Carnegie Investment Counsel boosted its holdings in shares of STERIS plc (NYSE:STE) by 6.2% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 56,872 shares of the medical equipment provider’s stock after acquiring an additional 3,323 shares during the quarter. Carnegie Investment Counsel’s holdings in STERIS were worth $12,576,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Norges Bank purchased a new stake in STERIS during the fourth quarter worth $320,298,000. AQR Capital Management LLC raised its position in shares of STERIS by 178.6% in the 3rd quarter. AQR Capital Management LLC now owns 1,183,070 shares of the medical equipment provider’s stock worth $291,704,000 after acquiring an additional 758,423 shares in the last quarter. Boston Partners bought a new position in shares of STERIS in the 3rd quarter worth $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 worth $504,486,000 after purchasing an additional 556,088 shares during the last quarter. Finally, State Street Corp boosted its position in STERIS by 6.0% during the fourth quarter. State Street Corp now owns 4,614,840 shares of the medical equipment provider’s stock valued at $1,169,957,000 after purchasing an additional 260,001 shares in the last quarter. Institutional investors own 94.69% of the company’s stock.

Insiders Place Their Bets

In other STERIS news, VP John Adam Zangerle sold 1,419 shares of the company’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 transaction of $296,968.32. Following the transaction, the vice president owned 35,259 shares in the company, valued at approximately $7,379,003.52. This represents a 3.87% decrease in their position. The sale was disclosed in a document filed 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, 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 completion of the transaction, the chief executive officer directly owned 63,647 shares of the company’s stock, valued at approximately $13,493,164. This represents a 2.11% 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 quarter, insiders have sold 7,328 shares of company stock valued at $1,554,051. Insiders own 1.12% of the company’s stock.

STERIS Stock Down 0.1%

NYSE:STE traded down $0.24 during mid-day trading on Friday, hitting $215.76. 582,912 shares of the company’s stock traded hands, compared to its average volume of 800,373. The company has a fifty day moving average of $211.31 and a 200 day moving average of $230.46. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.54 and a current ratio of 2.09. STERIS plc has a twelve month low of $195.14 and a twelve month high of $269.44. The company has a market capitalization of $21.03 billion, a P/E ratio of 27.21 and a beta of 0.92.

STERIS (NYSE:STE) last issued its quarterly 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). STERIS had a return on equity of 14.15% and a net margin of 13.18%.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 firm posted $2.74 EPS. STERIS’s revenue was up 6.7% on a year-over-year basis. STERIS has set its FY 2027 guidance at 11.100-11.300 EPS. On average, analysts forecast 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 given a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend was Monday, June 8th. STERIS’s payout ratio is currently 31.78%.

Analyst Ratings Changes

A number of equities analysts have commented on STE shares. Wall Street Zen downgraded shares of STERIS from a “strong-buy” rating to a “buy” rating in a report on Saturday, June 6th. Weiss Ratings downgraded shares of STERIS from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, May 27th. 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. Finally, KeyCorp decreased their target price on shares of STERIS from $291.00 to $269.00 and set an “overweight” rating for the company in a research report on Wednesday, May 13th. Three investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $278.00.

About STERIS

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.