Pallas Capital Advisors LLC Takes Position in STERIS plc $STE

Pallas Capital Advisors LLC purchased a new stake in shares of STERIS plc (NYSE:STE) in the third quarter, HoldingsChannel.com reports. The firm purchased 4,467 shares of the medical equipment provider’s stock, valued at approximately $1,105,000.

A number of other institutional investors have also recently added to or reduced their stakes in STE. Norges Bank acquired a new stake in shares of STERIS during the second quarter valued at about $289,132,000. Orbis Allan Gray Ltd lifted its stake in shares of STERIS by 36.0% in the second quarter. Orbis Allan Gray Ltd now owns 2,100,099 shares of the medical equipment provider’s stock worth $504,486,000 after acquiring an additional 556,088 shares in the last quarter. Thrivent Financial for Lutherans boosted its holdings in STERIS by 246.4% in the third quarter. Thrivent Financial for Lutherans now owns 553,834 shares of the medical equipment provider’s stock valued at $137,041,000 after purchasing an additional 393,970 shares during the last quarter. Invesco Ltd. grew its stake in STERIS by 32.2% during the 2nd quarter. Invesco Ltd. now owns 1,220,699 shares of the medical equipment provider’s stock valued at $293,236,000 after purchasing an additional 297,076 shares in the last quarter. Finally, Assenagon Asset Management S.A. increased its holdings in STERIS by 305.9% during the 3rd quarter. Assenagon Asset Management S.A. now owns 330,907 shares of the medical equipment provider’s stock worth $81,880,000 after purchasing an additional 249,386 shares during the last quarter. Institutional investors and hedge funds own 94.69% of the company’s stock.

STERIS Stock Down 1.0%

Shares of NYSE:STE opened at $245.75 on Wednesday. The company’s fifty day moving average is $256.34 and its two-hundred day moving average is $250.94. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.75 and a current ratio of 2.48. STERIS plc has a 1-year low of $204.90 and a 1-year high of $269.44. The stock has a market capitalization of $24.10 billion, a price-to-earnings ratio of 34.27 and a beta of 1.03.

STERIS (NYSE:STE) last announced its quarterly earnings data on Wednesday, February 4th. The medical equipment provider reported $2.53 earnings per share for the quarter, meeting analysts’ consensus estimates of $2.53. STERIS had a net margin of 12.15% and a return on equity of 14.34%. The company’s revenue was up 9.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.32 earnings per share. STERIS has set its FY 2026 guidance at 10.150-10.300 EPS. Equities analysts anticipate that STERIS plc will post 9.08 EPS for the current year.

STERIS Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 19th. Stockholders of record on Tuesday, February 17th will be given a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date is Tuesday, February 17th. STERIS’s dividend payout ratio is presently 35.15%.

Insider Activity

In other STERIS news, VP Julia Madsen sold 5,008 shares of the stock in a transaction on Friday, November 21st. The stock was sold at an average price of $262.00, for a total value of $1,312,096.00. Following the sale, the vice president directly owned 10,710 shares of the company’s stock, valued at $2,806,020. This trade represents a 31.86% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.07% of the company’s stock.

Analysts Set New Price Targets

STE has been the subject of several research analyst reports. Weiss Ratings reiterated a “buy (b)” rating on shares of STERIS in a research note on Friday, January 9th. Wall Street Zen lowered shares of STERIS from a “strong-buy” rating to a “buy” rating in a report on Saturday. Six equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $275.20.

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.