Bank of New York Mellon Corp Sells 18,351 Shares of STERIS plc $STE

Bank of New York Mellon Corp lowered its holdings in STERIS plc (NYSE:STE) by 3.4% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 524,508 shares of the medical equipment provider’s stock after selling 18,351 shares during the quarter. Bank of New York Mellon Corp owned about 0.53% of STERIS worth $115,984,000 as of its most recent filing with the SEC.

Other large investors also recently made changes to their positions in the company. Illinois Municipal Retirement Fund increased its holdings in shares of STERIS by 134.9% in the first quarter. Illinois Municipal Retirement Fund now owns 3,770 shares of the medical equipment provider’s stock valued at $834,000 after purchasing an additional 2,165 shares in the last quarter. Checchi Capital Advisers LLC lifted its holdings in STERIS by 14.0% during the 1st quarter. Checchi Capital Advisers LLC now owns 995 shares of the medical equipment provider’s stock worth $220,000 after buying an additional 122 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in STERIS by 1.0% during the 1st quarter. Principal Financial Group Inc. now owns 890,562 shares of the medical equipment provider’s stock worth $196,931,000 after buying an additional 9,226 shares in the last quarter. Procyon Advisors LLC boosted its position in STERIS by 60.2% in the 1st quarter. Procyon Advisors LLC now owns 1,312 shares of the medical equipment provider’s stock valued at $290,000 after buying an additional 493 shares during the last quarter. Finally, Diversify Wealth Management LLC boosted its position in STERIS by 36.7% in the 1st quarter. Diversify Wealth Management LLC now owns 11,914 shares of the medical equipment provider’s stock valued at $2,534,000 after buying an additional 3,197 shares during the last quarter. Institutional investors own 94.69% of the company’s stock.

Insider Activity at STERIS

In related news, Director Richard C. Breeden sold 1,481 shares of the company’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 owned 38,964 shares in the company, valued at $8,163,347.64. This represents a 3.66% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP John Adam Zangerle sold 1,419 shares of the company’s stock in a transaction on Monday, June 15th. The shares were sold at an average price of $209.28, for a total transaction of $296,968.32. Following the completion of the sale, the vice president owned 35,259 shares of the company’s stock, valued at approximately $7,379,003.52. This 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. Over the last 90 days, insiders sold 7,328 shares of company stock worth $1,554,051. 1.12% of the stock is currently owned by company insiders.

STERIS Stock Down 1.5%

NYSE:STE opened at $214.58 on Tuesday. The company has a quick ratio of 1.54, a current ratio of 2.09 and a debt-to-equity ratio of 0.25. STERIS plc has a 12-month low of $195.14 and a 12-month high of $269.44. The stock’s fifty day simple moving average is $211.74 and its 200-day simple moving average is $228.57. The firm has a market capitalization of $20.91 billion, a P/E ratio of 27.06 and a beta of 0.92.

STERIS (NYSE:STE) last released its 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). The company 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 company’s quarterly revenue was up 6.7% compared to the same quarter last year. During the same period in the previous year, the company posted $2.74 EPS. STERIS has set its FY 2027 guidance at 11.100-11.300 EPS. Equities research analysts expect that STERIS plc will post 11.18 earnings per share for the current year.

STERIS Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 26th. Investors of record on Monday, June 8th were paid a dividend of $0.63 per share. The ex-dividend date of this dividend was Monday, June 8th. This represents a $2.52 annualized dividend and a yield of 1.2%. STERIS’s dividend payout ratio (DPR) is presently 31.78%.

Analyst Ratings Changes

A number of research firms have recently weighed in on STE. KeyCorp dropped their target price on STERIS from $291.00 to $269.00 and set an “overweight” rating for the company in a research report on Wednesday, May 13th. Weiss Ratings cut STERIS from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, May 27th. 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. Finally, Wall Street Zen cut STERIS from a “strong-buy” rating to a “buy” rating in a report on Saturday, June 6th. Three equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $278.00.

STERIS 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.