Andra AP fonden Increases Stock Holdings in STERIS plc $STE

Andra AP fonden raised its stake in STERIS plc (NYSE:STE) by 10.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 42,073 shares of the medical equipment provider’s stock after acquiring an additional 3,973 shares during the period. Andra AP fonden’s holdings in STERIS were worth $9,304,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Glenview Trust Co raised its stake in shares of STERIS by 46.4% during the first quarter. Glenview Trust Co now owns 2,397 shares of the medical equipment provider’s stock worth $530,000 after purchasing an additional 760 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of STERIS by 4.3% in the first quarter. Dimensional Fund Advisors LP now owns 1,113,845 shares of the medical equipment provider’s stock valued at $246,295,000 after acquiring an additional 46,391 shares in the last quarter. SEB Asset Management AB purchased a new stake in shares of STERIS in the first quarter valued at about $30,660,000. Swiss National Bank raised its holdings in STERIS by 6.7% during the first quarter. Swiss National Bank now owns 287,960 shares of the medical equipment provider’s stock worth $63,677,000 after purchasing an additional 18,000 shares in the last quarter. Finally, Bessemer Group Inc. raised its holdings in STERIS by 8.8% during the first quarter. Bessemer Group Inc. now owns 1,048,636 shares of the medical equipment provider’s stock worth $231,883,000 after purchasing an additional 85,188 shares in the last quarter. 94.69% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Insiders Place Their Bets

In other 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 value of $291,288.00. Following the transaction, the chief executive officer directly owned 63,647 shares in the company, valued at $13,493,164. This trade represents a 2.11% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Richard C. Breeden sold 1,481 shares of the stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $209.51, for a total transaction 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 position. The disclosure for this sale is available in the SEC filing. Insiders sold 7,328 shares of company stock worth $1,554,051 over the last three months. 1.12% of the stock is owned by insiders.

STERIS Trading Down 1.4%

STERIS stock opened at $211.49 on Wednesday. The stock has a market cap of $20.61 billion, a PE ratio of 26.67 and a beta of 0.92. The stock has a 50-day moving average price of $211.75 and a 200 day moving average price of $228.27. STERIS plc has a 52 week low of $195.14 and a 52 week 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.

STERIS (NYSE:STE) last released its earnings results on Monday, May 11th. The medical equipment provider reported $2.83 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.86 by ($0.03). STERIS had a net margin of 13.18% and a return on equity of 14.15%. The firm had revenue of $1.59 billion during the quarter, compared to analysts’ expectations of $1.59 billion. During the same quarter last year, the company posted $2.74 earnings per share. STERIS’s revenue for the quarter was up 6.7% on a year-over-year basis. STERIS has set its FY 2027 guidance at 11.100-11.300 EPS. Equities research analysts predict that STERIS plc will post 11.18 earnings per share for the current fiscal year.

STERIS Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 26th. Stockholders 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 dividend yield of 1.2%. STERIS’s payout ratio is currently 31.78%.

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.