Kornitzer Capital Management Inc. KS Takes Position in STERIS plc $STE

Kornitzer Capital Management Inc. KS acquired a new stake in STERIS plc (NYSE:STE) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 24,900 shares of the medical equipment provider’s stock, valued at approximately $5,506,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of STE. Hsbc Holdings PLC boosted its holdings in STERIS by 352.5% in the 1st quarter. Hsbc Holdings PLC now owns 176,320 shares of the medical equipment provider’s stock valued at $38,958,000 after purchasing an additional 137,355 shares during the last quarter. V Square Quantitative Management LLC increased its holdings in shares of STERIS by 8.7% during the 1st quarter. V Square Quantitative Management LLC now owns 2,898 shares of the medical equipment provider’s stock worth $641,000 after buying an additional 231 shares during the last quarter. Meramec Financial Planners LLC acquired a new stake in shares of STERIS during the 1st quarter worth approximately $33,000. New York State Teachers Retirement System raised its position in shares of STERIS by 2.1% during the 1st quarter. New York State Teachers Retirement System now owns 83,446 shares of the medical equipment provider’s stock valued at $18,452,000 after buying an additional 1,712 shares during the period. Finally, Y Intercept Hong Kong Ltd raised its position in shares of STERIS by 652.7% during the 1st quarter. Y Intercept Hong Kong Ltd now owns 7,286 shares of the medical equipment provider’s stock valued at $1,611,000 after buying an additional 6,318 shares during the period. 94.69% of the stock is currently owned by institutional investors and hedge funds.

STERIS Stock Down 0.1%

STE stock traded down $0.24 during midday trading on Friday, hitting $215.76. The company’s stock had a trading volume of 582,912 shares, compared to its average volume of 800,373. STERIS plc has a 52-week low of $195.14 and a 52-week high of $269.44. The firm has a market capitalization of $21.03 billion, a P/E ratio of 27.21 and a beta of 0.92. The company has a quick ratio of 1.54, a current ratio of 2.09 and a debt-to-equity ratio of 0.25. The firm has a 50-day simple moving average of $211.31 and a 200-day simple moving average of $230.46.

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 the consensus estimate of $2.86 by ($0.03). STERIS had a return on equity of 14.15% and a net margin of 13.18%.The company had revenue of $1.59 billion for the quarter, compared to analysts’ expectations of $1.59 billion. During the same quarter last year, the company earned $2.74 EPS. STERIS’s revenue for the quarter was up 6.7% compared to the same quarter last year. STERIS has set its FY 2027 guidance at 11.100-11.300 EPS. As a group, equities analysts forecast that STERIS plc will post 11.18 EPS for the current year.

STERIS Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 26th. Investors of record on Monday, June 8th were issued a $0.63 dividend. 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 dividend payout ratio is 31.78%.

Analyst Ratings Changes

Several brokerages recently weighed in on STE. Piper Sandler reiterated an “overweight” rating and issued a $270.00 price objective on shares of STERIS in a research report on Thursday, May 21st. Wall Street Zen downgraded STERIS from a “strong-buy” rating to a “buy” rating in a research report on Saturday, June 6th. Weiss Ratings lowered STERIS from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday, May 27th. Finally, KeyCorp decreased their price target on STERIS from $291.00 to $269.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 13th. Three investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, STERIS presently has a consensus rating of “Moderate Buy” and a consensus target price of $278.00.

Insider Activity

In related news, Director Richard C. Breeden sold 1,481 shares of the business’s stock in a transaction on Tuesday, June 2nd. The shares were 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 of the company’s stock, valued at $8,163,347.64. The trade was a 3.66% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Daniel A. Carestio sold 3,054 shares of the business’s stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $214.64, for a total value of $655,510.56. Following the completion of the sale, the chief executive officer owned 65,021 shares of the company’s stock, valued at approximately $13,956,107.44. This represents a 4.49% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 7,328 shares of company stock worth $1,554,051. 1.12% of the stock is currently owned by 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.