Public Employees Retirement System of Ohio Invests $11.55 Million in STERIS plc $STE

Public Employees Retirement System of Ohio acquired a new stake in STERIS plc (NYSE:STE) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 54,849 shares of the medical equipment provider’s stock, valued at approximately $11,550,000. Public Employees Retirement System of Ohio owned approximately 0.06% of STERIS at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the stock. Western Wealth Management LLC acquired a new position in shares of STERIS during the 1st quarter worth approximately $25,000. Elevation Wealth Partners LLC increased its holdings 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. Measured Wealth Private Client Group LLC acquired a new position in STERIS during the fourth quarter worth $28,000. Geneos Wealth Management Inc. raised its position in STERIS by 416.0% during the first 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. Finally, Cornerstone Planning Group LLC lifted its stake in STERIS by 342.3% in the fourth quarter. Cornerstone Planning Group LLC now owns 115 shares of the medical equipment provider’s stock valued at $30,000 after acquiring an additional 89 shares during the last quarter. 94.69% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at STERIS

In other STERIS news, Director Mohsen Sohi sold 4,058 shares of STERIS stock in a transaction dated Wednesday, August 12th. The shares were sold at an average price of $235.78, for a total value of $956,795.24. Following the completion of the sale, the director owned 24,305 shares in the company, valued at $5,730,632.90. The trade was a 14.31% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Daniel A. Carestio sold 1,374 shares of the stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $212.00, for a total transaction of $291,288.00. Following the transaction, the chief executive officer owned 63,647 shares in the company, valued at approximately $13,493,164. The trade was a 2.11% 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. In the last three months, insiders sold 11,386 shares of company stock worth $2,510,846. Insiders own 1.12% of the company’s stock.

STERIS Stock Performance

NYSE STE opened at $233.52 on Monday. The firm has a 50-day moving average of $223.17 and a 200-day moving average of $222.70. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.35 and a current ratio of 1.91. The stock has a market cap of $22.77 billion, a PE ratio of 28.55 and a beta of 0.91. STERIS plc has a 52-week low of $195.14 and a 52-week high of $269.44.

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

STERIS Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Friday, September 4th will be given a $0.69 dividend. The ex-dividend date of this dividend is Friday, September 4th. This is a boost from STERIS’s previous quarterly dividend of $0.63. This represents a $2.76 dividend on an annualized basis and a dividend yield of 1.2%. STERIS’s dividend payout ratio (DPR) is presently 30.81%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on STE shares. UBS Group dropped their target price on shares of STERIS from $275.00 to $270.00 and set a “buy” rating on the stock in a report on Friday, August 7th. Piper Sandler reissued an “overweight” rating and set a $275.00 price target (up from $270.00) on shares of STERIS in a research report on Friday, August 7th. Wall Street Zen upgraded STERIS from a “hold” rating to a “buy” rating in a research note on Sunday, August 9th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of STERIS in a research report on Monday, August 24th. Finally, KeyCorp reduced their target price on STERIS from $291.00 to $269.00 and set an “overweight” rating for the company in a research note on Wednesday, May 13th. Three equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $271.33.

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.