Marks Group Wealth Management Inc Reduces Stake in STERIS plc $STE

Marks Group Wealth Management Inc reduced its holdings in STERIS plc (NYSE:STE) by 13.9% during the first quarter, Holdings Channel.com reports. The institutional investor owned 26,510 shares of the medical equipment provider’s stock after selling 4,267 shares during the quarter. Marks Group Wealth Management Inc’s holdings in STERIS were worth $5,862,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in STE. Vanguard Group Inc. boosted its holdings in STERIS by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 12,286,535 shares of the medical equipment provider’s stock valued at $3,114,882,000 after acquiring an additional 73,014 shares in the last quarter. State Street Corp boosted its stake in shares of STERIS by 6.0% during the 4th quarter. State Street Corp now owns 4,614,840 shares of the medical equipment provider’s stock valued at $1,169,957,000 after purchasing an additional 260,001 shares in the last quarter. Geode Capital Management LLC increased its position in shares of STERIS by 0.6% during the fourth quarter. Geode Capital Management LLC now owns 2,523,620 shares of the medical equipment provider’s stock valued at $637,259,000 after buying an additional 14,151 shares during the period. Orbis Allan Gray Ltd raised its stake in STERIS by 5.6% in the fourth quarter. Orbis Allan Gray Ltd now owns 2,249,511 shares of the medical equipment provider’s stock worth $570,296,000 after buying an additional 120,200 shares in the last quarter. Finally, AQR Capital Management LLC lifted its holdings in STERIS by 37.2% in the fourth quarter. AQR Capital Management LLC now owns 1,623,234 shares of the medical equipment provider’s stock worth $411,522,000 after buying an additional 440,164 shares during the period. Institutional investors own 94.69% of the company’s stock.

STERIS Stock Performance

Shares of NYSE STE opened at $211.40 on Thursday. The firm’s 50-day moving average price is $211.14 and its 200-day moving average price is $229.37. STERIS plc has a 52-week low of $195.14 and a 52-week high of $269.44. The company has a market cap of $20.60 billion, a PE ratio of 26.66 and a beta of 0.92. 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 (NYSE:STE) last issued its quarterly earnings data 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). STERIS had a net margin of 13.18% and a return on equity of 14.15%. The company had revenue of $1.59 billion for the quarter, compared to the consensus estimate of $1.59 billion. During the same quarter last year, the company earned $2.74 EPS. The firm’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. As a group, analysts anticipate that STERIS plc will post 11.18 EPS for the current year.

STERIS Dividend Announcement

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

Analyst Ratings Changes

STE has been the topic of a number of research analyst reports. Piper Sandler reiterated an “overweight” rating and set a $270.00 target price on shares of STERIS in a report on Thursday, May 21st. KeyCorp lowered their price objective 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 downgraded shares of STERIS from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, May 27th. Finally, Wall Street Zen lowered shares of STERIS from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 6th. Three equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $278.00.

Insider Transactions at STERIS

In other STERIS news, Director Richard C. Breeden sold 1,481 shares of the company’s stock in a transaction that occurred on Tuesday, June 2nd. The shares were 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 approximately $8,163,347.64. This represents a 3.66% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Daniel A. Carestio sold 3,054 shares of the business’s stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $214.64, for a total transaction of $655,510.56. Following the sale, the chief executive officer directly owned 65,021 shares of the company’s stock, valued at approximately $13,956,107.44. The trade was a 4.49% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 7,328 shares of company stock worth $1,554,051 in the last ninety days. Insiders own 1.12% of the company’s stock.

STERIS Company 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.