Engineers Gate Manager LP Makes New Investment in STERIS plc $STE

Engineers Gate Manager LP purchased a new stake in STERIS plc (NYSE:STE) during the 2nd quarter, Holdings Channel.com reports. The firm purchased 9,499 shares of the medical equipment provider’s stock, valued at approximately $2,000,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in STE. Measured Wealth Private Client Group LLC acquired a new stake in shares of STERIS in the fourth quarter valued at about $28,000. Western Wealth Management LLC acquired a new position in STERIS during the first quarter worth approximately $25,000. Elevation Wealth Partners LLC increased its position in STERIS by 1,130.0% during the second quarter. Elevation Wealth Partners LLC now owns 123 shares of the medical equipment provider’s stock worth $26,000 after buying an additional 113 shares during the last quarter. Meramec Financial Planners LLC acquired a new position in shares of STERIS in the first quarter valued at $33,000. Finally, Lloyd Advisory Services LLC. bought a new position in shares of STERIS in the fourth quarter valued at about $38,000. 94.69% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently commented on STE. Piper Sandler restated an “overweight” rating and issued a $275.00 price target (up from $270.00) on shares of STERIS in a research note on Friday, August 7th. Wall Street Zen raised STERIS from a “hold” rating to a “buy” rating in a report on Sunday, August 9th. Weiss Ratings reissued a “hold (c)” rating on shares of STERIS in a report on Monday, August 24th. Finally, UBS Group dropped their price target on STERIS from $275.00 to $270.00 and set a “buy” rating for the company in a research note on Friday, August 7th. Three investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, STERIS has a consensus rating of “Moderate Buy” and a consensus price target of $271.33.

Insider Buying and Selling

In other news, Director Mohsen Sohi sold 4,058 shares of the stock in a transaction that occurred on Wednesday, August 12th. The stock was sold at an average price of $235.78, for a total value of $956,795.24. Following the completion of the sale, the director directly owned 24,305 shares of the company’s stock, valued at $5,730,632.90. This represents a 14.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 1.12% of the company’s stock.

STERIS Stock Performance

STE stock opened at $210.41 on Wednesday. The stock has a 50-day moving average price of $225.46 and a 200-day moving average price of $220.44. STERIS plc has a 1-year low of $195.14 and a 1-year high of $269.44. The company has a current ratio of 1.91, a quick ratio of 1.35 and a debt-to-equity ratio of 0.23. The firm has a market cap of $20.51 billion, a PE ratio of 25.72 and a beta of 0.91.

STERIS (NYSE:STE) last announced its earnings results on Wednesday, August 5th. The medical equipment provider reported $2.59 EPS for the quarter, beating the consensus estimate of $2.49 by $0.10. The company had revenue of $1.49 billion for the quarter, compared to analyst estimates of $1.49 billion. STERIS had a return on equity of 14.34% and a net margin of 13.34%.The firm’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.34 EPS. STERIS has set its FY 2027 guidance at 11.000-11.300 EPS. As a group, equities research analysts expect that STERIS plc will post 11.09 earnings per share for the current year.

STERIS Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Friday, September 4th will be paid a dividend of $0.69 per share. This is a boost from STERIS’s previous quarterly dividend of $0.63. The ex-dividend date is Friday, September 4th. This represents a $2.76 dividend on an annualized basis and a yield of 1.3%. STERIS’s dividend payout ratio (DPR) is presently 33.74%.

About STERIS

STERIS plc (NYSE: STE) is a global provider of products and services designed to support infection prevention, sterilization, surgical procedures and other critical healthcare and life sciences activities. The company serves hospitals, ambulatory surgery centers, dental practices, pharmaceutical and biotechnology manufacturers, medical device companies, and research organizations.

Its offerings include sterilizers, washers, surgical tables and lights, operating-room equipment, endoscopy products, infection-prevention consumables, and related maintenance and technical services.