Rhenman & Partners Asset Management AB Invests $1.52 Million in STERIS plc $STE

Rhenman & Partners Asset Management AB acquired a new position in STERIS plc (NYSE:STE) in the 4th quarter, HoldingsChannel.com reports. The institutional investor acquired 6,000 shares of the medical equipment provider’s stock, valued at approximately $1,521,000.

Several other hedge funds have also recently made changes to their positions in STE. Board of the Pension Protection Fund bought a new position in shares of STERIS in the 4th quarter worth about $25,000. Harbor Investment Advisory LLC raised its position in shares of STERIS by 115.4% in 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 in the last quarter. Activest Wealth Management raised its position in shares of STERIS by 423.8% in the 4th 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 bought a new position in shares of STERIS in the 4th quarter worth about $28,000. Finally, Geneos Wealth Management Inc. raised its position in shares of STERIS by 416.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 129 shares of the medical equipment provider’s stock worth $29,000 after acquiring an additional 104 shares in the last quarter. 94.69% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

STE has been the subject of several research analyst reports. KeyCorp lowered their price objective on STERIS from $291.00 to $269.00 and set an “overweight” rating for the company in a research report on Wednesday, May 13th. Wall Street Zen downgraded STERIS from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 6th. Weiss Ratings downgraded STERIS from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday, May 27th. Finally, Piper Sandler restated an “overweight” rating and issued a $270.00 target price on shares of STERIS in a research note on Thursday, May 21st. Three equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, STERIS presently has an average rating of “Moderate Buy” and a consensus target price of $278.00.

STERIS Stock Performance

Shares of STE opened at $207.50 on Friday. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.09 and a quick ratio of 1.54. The stock has a 50-day moving average of $216.08 and a 200-day moving average of $237.38. The company has a market cap of $20.25 billion, a PE ratio of 26.17 and a beta of 0.93. STERIS plc has a one year low of $195.14 and a one year high of $269.44.

STERIS (NYSE:STE) last issued its earnings results on Monday, May 11th. The medical equipment provider reported $2.83 EPS for the quarter, missing the consensus estimate of $2.86 by ($0.03). The firm had revenue of $1.59 billion during the quarter, compared to analyst estimates of $1.59 billion. STERIS had a net margin of 13.18% and a return on equity of 14.15%. The business’s quarterly revenue was up 6.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.74 earnings per share. STERIS has set its FY 2027 guidance at 11.100-11.300 EPS. On average, equities research analysts predict that STERIS plc will post 11.18 EPS for the current fiscal year.

STERIS Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 26th. Stockholders of record on Monday, June 8th will be paid a $0.63 dividend. The ex-dividend date is Monday, June 8th. This represents a $2.52 annualized dividend and a dividend yield of 1.2%. STERIS’s dividend payout ratio (DPR) is currently 31.78%.

Insider Activity

In other news, Director Richard C. Breeden sold 1,481 shares of the firm’s stock in a transaction dated 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 directly owned 38,964 shares in the company, valued at $8,163,347.64. This trade represents a 3.66% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Daniel A. Carestio sold 1,374 shares of STERIS stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $212.00, for a total value of $291,288.00. Following the transaction, the chief executive officer owned 63,647 shares of the company’s stock, valued at $13,493,164. This trade 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. Over the last 90 days, insiders sold 5,909 shares of company stock valued at $1,257,083. 1.07% of the stock is currently owned by company insiders.

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.