SEB Asset Management AB Acquires New Stake in STERIS plc $STE

SEB Asset Management AB acquired a new position in shares of STERIS plc (NYSE:STE) in the first quarter, according to the company in its most recent filing with the SEC. The firm acquired 138,652 shares of the medical equipment provider’s stock, valued at approximately $30,660,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Trust Co. of Vermont lifted its holdings in STERIS by 30.2% in the 4th quarter. Trust Co. of Vermont now owns 164 shares of the medical equipment provider’s stock valued at $42,000 after purchasing an additional 38 shares in the last quarter. Bailard Inc. grew its holdings in shares of STERIS by 3.5% during the fourth quarter. Bailard Inc. now owns 1,118 shares of the medical equipment provider’s stock worth $283,000 after buying an additional 38 shares in the last quarter. Geneos Wealth Management Inc. raised its position in shares of STERIS by 34.9% in the second quarter. Geneos Wealth Management Inc. now owns 174 shares of the medical equipment provider’s stock valued at $42,000 after buying an additional 45 shares during the last quarter. Ascent Group LLC raised its position in shares of STERIS by 4.9% in the fourth quarter. Ascent Group LLC now owns 1,009 shares of the medical equipment provider’s stock valued at $256,000 after buying an additional 47 shares during the last quarter. Finally, Clear Harbor Asset Management LLC lifted its stake in shares of STERIS by 3.8% during the fourth quarter. Clear Harbor Asset Management LLC now owns 1,350 shares of the medical equipment provider’s stock valued at $342,000 after buying an additional 50 shares during the period. Institutional investors and hedge funds own 94.69% of the company’s stock.

Analysts Set New Price Targets

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

Insider Transactions at STERIS

In related news, Director Richard C. Breeden sold 1,481 shares of STERIS stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $209.51, for a total value of $310,284.31. Following the transaction, the director owned 38,964 shares in the company, valued at approximately $8,163,347.64. This trade represents a 3.66% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Daniel A. Carestio sold 1,374 shares of the business’s stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $212.00, for a total value of $291,288.00. Following the sale, the chief executive officer directly owned 63,647 shares of the company’s stock, valued at approximately $13,493,164. This trade represents a 2.11% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders 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 Trading Down 0.1%

Shares of STE stock opened at $217.66 on Monday. The firm’s 50-day simple moving average is $211.49 and its 200-day simple moving average is $228.86. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.09 and a quick ratio of 1.54. STERIS plc has a 1-year low of $195.14 and a 1-year high of $269.44. The firm has a market cap of $21.21 billion, a P/E ratio of 27.45 and a beta of 0.92.

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 company had revenue of $1.59 billion during the quarter, compared to analysts’ expectations of $1.59 billion. During the same quarter in the previous year, the firm posted $2.74 earnings per share. STERIS’s revenue for the quarter was up 6.7% compared to the same quarter last year. STERIS has set its FY 2027 guidance at 11.100-11.300 EPS. As a group, equities analysts forecast that STERIS plc will post 11.18 EPS for the current year.

STERIS Dividend Announcement

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.