Rathbones Group PLC Reduces Stock Position in STERIS plc $STE

Rathbones Group PLC decreased its holdings in STERIS plc (NYSE:STE) by 6.0% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 100,231 shares of the medical equipment provider’s stock after selling 6,406 shares during the period. Rathbones Group PLC’s holdings in STERIS were worth $22,164,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in STE. Norges Bank purchased a new stake in shares of STERIS during the fourth quarter valued at $320,298,000. AQR Capital Management LLC grew its holdings in shares of STERIS by 178.6% in the third quarter. AQR Capital Management LLC now owns 1,183,070 shares of the medical equipment provider’s stock worth $291,704,000 after purchasing an additional 758,423 shares during the last quarter. Boston Partners purchased a new position in STERIS in the 3rd quarter worth about $158,982,000. Orbis Allan Gray Ltd increased its stake in STERIS by 36.0% in 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 buying an additional 556,088 shares during the period. Finally, Janus Henderson Group PLC lifted its holdings in STERIS by 25.7% during the 1st quarter. Janus Henderson Group PLC now owns 1,863,139 shares of the medical equipment provider’s stock valued at $411,995,000 after buying an additional 380,504 shares in the last quarter. 94.69% of the stock is currently owned by institutional investors.

STERIS Stock Performance

Shares of STE stock opened at $232.54 on Tuesday. The firm has a market cap of $22.66 billion, a price-to-earnings ratio of 29.32 and a beta of 0.91. STERIS plc has a 52-week low of $195.14 and a 52-week high of $269.44. 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 company’s 50 day moving average is $213.31 and its 200 day moving average is $226.13.

STERIS (NYSE:STE) last posted its 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). The company had revenue of $1.59 billion for the quarter, compared to analysts’ expectations of $1.59 billion. STERIS had a return on equity of 14.15% and a net margin of 13.18%.The firm’s quarterly revenue was up 6.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.74 EPS. STERIS has set its FY 2027 guidance at 11.100-11.300 EPS. On average, sell-side analysts anticipate that STERIS plc will post 11.17 EPS for the current fiscal year.

STERIS Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Friday, September 4th will be paid a dividend of $0.69 per share. This is an increase 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 dividend yield of 1.2%. STERIS’s dividend payout ratio (DPR) is currently 31.78%.

Insider Buying and Selling

In related news, CEO Daniel A. Carestio sold 1,374 shares of the firm’s stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $212.00, for a total transaction of $291,288.00. Following 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. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP John Adam Zangerle sold 1,419 shares of STERIS stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $209.28, for a total value of $296,968.32. Following the completion of the transaction, the vice president owned 35,259 shares in the company, valued at $7,379,003.52. This trade represents a 3.87% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 7,328 shares of company stock worth $1,554,051 in the last three months. 1.12% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities research analysts have issued reports on STE shares. Wall Street Zen cut shares of STERIS from a “buy” rating to a “hold” rating in a research report on Saturday. Piper Sandler reaffirmed an “overweight” rating and set a $270.00 target price on shares of STERIS in a research report on Thursday, May 21st. Weiss Ratings downgraded shares of STERIS from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday, May 27th. UBS Group assumed coverage on STERIS in a report on Tuesday, July 28th. They issued a “buy” rating and a $275.00 price target for the company. Finally, KeyCorp dropped their price objective on STERIS from $291.00 to $269.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 13th. Four research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $277.25.

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.