STERIS (NYSE:STE) CEO Daniel Carestio Sells 3,054 Shares

STERIS plc (NYSE:STE) CEO Daniel Carestio sold 3,054 shares of the company’s stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $214.64, for a total value of $655,510.56. Following the completion of the sale, the chief executive officer directly owned 65,021 shares in the company, valued at approximately $13,956,107.44. The trade was a 4.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

STERIS Price Performance

Shares of STE stock opened at $210.19 on Tuesday. The stock has a market cap of $20.52 billion, a price-to-earnings ratio of 26.51 and a beta of 0.93. The business’s fifty day moving average is $216.98 and its 200 day moving average is $238.63. STERIS plc has a twelve month low of $195.14 and a twelve month high of $269.44. 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 released its earnings results on Monday, May 11th. The medical equipment provider reported $2.83 EPS for the quarter, missing analysts’ consensus estimates of $2.86 by ($0.03). STERIS had a return on equity of 14.15% and a net margin of 13.18%.The company had revenue of $1.59 billion during the quarter, compared to analysts’ expectations of $1.59 billion. During the same period in the prior year, the company posted $2.74 earnings per share. The company’s revenue was up 6.7% on a year-over-year basis. STERIS has set its FY 2027 guidance at 11.100-11.300 EPS. Research analysts expect that STERIS plc will post 11.18 EPS for the current fiscal year.

STERIS Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 26th. Stockholders of record on Monday, June 8th will be 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 of this dividend is Monday, June 8th. STERIS’s dividend payout ratio is currently 31.78%.

Analyst Ratings Changes

A number of research firms have recently commented on STE. Wall Street Zen cut STERIS from a “strong-buy” rating to a “buy” rating in a research note on Saturday. Piper Sandler reissued an “overweight” rating and issued a $270.00 target price on shares of STERIS in a research note on Thursday, May 21st. Weiss Ratings cut STERIS from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday, May 27th. Finally, KeyCorp cut their target price on STERIS from $291.00 to $269.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 13th. Three analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $278.00.

Institutional Investors Weigh In On STERIS

Several institutional investors have recently modified their holdings of STE. Norges Bank purchased a new stake in shares of STERIS during the fourth quarter valued at $320,298,000. AQR Capital Management LLC boosted its position in STERIS by 178.6% in the third quarter. AQR Capital Management LLC now owns 1,183,070 shares of the medical equipment provider’s stock worth $291,704,000 after purchasing an additional 758,423 shares during the last quarter. Boston Partners purchased a new position in STERIS in the third quarter worth about $158,982,000. Orbis Allan Gray Ltd boosted its position in 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 purchasing an additional 556,088 shares during the last quarter. Finally, Janus Henderson Group PLC boosted its position in STERIS by 25.7% in the first quarter. Janus Henderson Group PLC now owns 1,863,139 shares of the medical equipment provider’s stock worth $411,995,000 after purchasing an additional 380,504 shares during the last quarter. 94.69% of the stock is owned by hedge funds and other institutional investors.

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.