Pallas Capital Advisors LLC Buys New Position in STERIS plc $STE

Pallas Capital Advisors LLC bought a new stake in STERIS plc (NYSE:STE) during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 4,467 shares of the medical equipment provider’s stock, valued at approximately $1,105,000.

Several other hedge funds also recently modified their holdings of STE. Norges Bank acquired a new stake in STERIS during the second quarter worth approximately $289,132,000. Orbis Allan Gray Ltd lifted its stake in shares of STERIS by 36.0% during the 2nd 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 period. Thrivent Financial for Lutherans lifted its stake in shares of STERIS by 246.4% during the 3rd quarter. Thrivent Financial for Lutherans now owns 553,834 shares of the medical equipment provider’s stock worth $137,041,000 after purchasing an additional 393,970 shares during the period. Invesco Ltd. boosted its holdings in shares of STERIS by 32.2% during the second quarter. Invesco Ltd. now owns 1,220,699 shares of the medical equipment provider’s stock worth $293,236,000 after purchasing an additional 297,076 shares during the last quarter. Finally, Assenagon Asset Management S.A. grew its position in shares of STERIS by 305.9% in the third quarter. Assenagon Asset Management S.A. now owns 330,907 shares of the medical equipment provider’s stock valued at $81,880,000 after purchasing an additional 249,386 shares during the period. 94.69% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. Weiss Ratings reiterated a “buy (b)” rating on shares of STERIS in a research report on Friday, January 9th. Wall Street Zen downgraded shares of STERIS from a “strong-buy” rating to a “buy” rating in a research note on Saturday. Six analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $275.20.

Insider Activity at STERIS

In other news, VP Julia Madsen sold 5,008 shares of the stock in a transaction dated 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 completion of the sale, the vice president owned 10,710 shares in the company, valued at approximately $2,806,020. This trade represents a 31.86% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.07% of the stock is currently owned by corporate insiders.

STERIS Stock Down 1.0%

STE opened at $245.75 on Wednesday. STERIS plc has a 1 year low of $204.90 and a 1 year high of $269.44. The firm has a 50 day moving average price of $256.34 and a 200 day moving average price of $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. The company has a market cap of $24.10 billion, a PE ratio of 34.27 and a beta of 1.03.

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

STERIS Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 19th. Shareholders of record on Tuesday, February 17th will be given a $0.63 dividend. The ex-dividend date of this dividend is Tuesday, February 17th. This represents a $2.52 annualized dividend and a yield of 1.0%. STERIS’s dividend payout ratio (DPR) is 35.15%.

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.