ExodusPoint Capital Management LP Takes Position in STERIS plc $STE

ExodusPoint Capital Management LP purchased a new stake in STERIS plc (NYSE:STE) in the fourth quarter, HoldingsChannel reports. The firm purchased 73,030 shares of the medical equipment provider’s stock, valued at approximately $18,515,000.

A number of other hedge funds have also made changes to their positions in STE. Jones Financial Companies Lllp increased its position in shares of STERIS by 46.1% in the first quarter. Jones Financial Companies Lllp now owns 1,106 shares of the medical equipment provider’s stock valued at $251,000 after buying an additional 349 shares in the last quarter. Goldman Sachs Group Inc. increased its position in STERIS by 32.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 242,732 shares of the medical equipment provider’s stock worth $55,015,000 after purchasing an additional 59,264 shares in the last quarter. Empowered Funds LLC increased its position in STERIS by 16.1% during the 1st quarter. Empowered Funds LLC now owns 2,303 shares of the medical equipment provider’s stock worth $522,000 after purchasing an additional 319 shares in the last quarter. Woodline Partners LP increased its position in STERIS by 40.0% during the 1st quarter. Woodline Partners LP now owns 8,300 shares of the medical equipment provider’s stock worth $1,881,000 after purchasing an additional 2,372 shares in the last quarter. Finally, Jane Street Group LLC increased its position in STERIS by 38.9% during the 1st quarter. Jane Street Group LLC now owns 20,716 shares of the medical equipment provider’s stock worth $4,695,000 after purchasing an additional 5,803 shares in the last quarter. Hedge funds and other institutional investors own 94.69% of the company’s stock.

Insider Activity

In other news, VP John Adam Zangerle sold 1,419 shares of the business’s stock in a transaction that occurred on Monday, June 15th. The stock was 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 directly owned 35,259 shares in the company, valued at approximately $7,379,003.52. The trade was a 3.87% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Daniel A. Carestio sold 1,374 shares of the business’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 owned 63,647 shares of the company’s stock, valued at $13,493,164. This trade represents a 2.11% decrease in their ownership of the stock. 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 ninety days, insiders sold 7,328 shares of company stock worth $1,554,051. 1.12% of the stock is currently owned by insiders.

STERIS Stock Up 0.3%

Shares of NYSE:STE opened at $206.64 on Wednesday. The firm has a market cap of $20.14 billion, a price-to-earnings ratio of 26.06 and a beta of 0.93. STERIS plc has a 12-month low of $195.14 and a 12-month high of $269.44. The company has a current ratio of 2.09, a quick ratio of 1.54 and a debt-to-equity ratio of 0.25. The stock’s 50-day moving average price is $215.59 and its two-hundred day moving average price is $236.34.

STERIS (NYSE:STE) last released its quarterly earnings data on Monday, May 11th. The medical equipment provider reported $2.83 earnings per share 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 revenue for the quarter was up 6.7% on a year-over-year basis. During the same period in the prior year, the firm earned $2.74 earnings per share. STERIS has set its FY 2027 guidance at 11.100-11.300 EPS. On average, research analysts forecast that STERIS plc will post 11.18 EPS for the current year.

STERIS Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 26th. Shareholders of record on Monday, June 8th will be issued a dividend of $0.63 per share. The ex-dividend date is Monday, June 8th. This represents a $2.52 annualized dividend and a yield of 1.2%. STERIS’s payout ratio is currently 31.78%.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Piper Sandler reiterated an “overweight” rating and set a $270.00 price objective on shares of STERIS in a research report on Thursday, May 21st. KeyCorp dropped 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 cut STERIS from a “strong-buy” rating to a “buy” rating in a research report on Saturday, June 6th. Finally, Weiss Ratings cut STERIS from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, May 27th. Three research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, STERIS has a consensus rating of “Moderate Buy” and a consensus price target 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.