Sei Investments Co. Sells 12,113 Shares of STERIS plc $STE

Sei Investments Co. cut its stake in STERIS plc (NYSE:STE) by 12.3% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 86,085 shares of the medical equipment provider’s stock after selling 12,113 shares during the quarter. Sei Investments Co.’s holdings in STERIS were worth $19,036,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Activest Wealth Management boosted its stake in shares of STERIS by 423.8% during the 4th quarter. Activest Wealth Management now owns 110 shares of the medical equipment provider’s stock valued at $28,000 after purchasing an additional 89 shares in the last quarter. Measured Wealth Private Client Group LLC bought a new position in STERIS in the fourth quarter worth about $28,000. Geneos Wealth Management Inc. raised its stake in STERIS by 416.0% in the first quarter. Geneos Wealth Management Inc. now owns 129 shares of the medical equipment provider’s stock worth $29,000 after buying an additional 104 shares in the last quarter. Cornerstone Planning Group LLC lifted its holdings in STERIS by 342.3% in the fourth quarter. Cornerstone Planning Group LLC now owns 115 shares of the medical equipment provider’s stock worth $30,000 after buying an additional 89 shares during the period. Finally, Meramec Financial Planners LLC bought a new stake in STERIS during the 1st quarter valued at approximately $33,000. 94.69% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at STERIS

In other STERIS news, VP John Adam Zangerle sold 1,419 shares of the business’s stock in a transaction on Monday, June 15th. The stock was sold at an average price of $209.28, for a total value of $296,968.32. Following the sale, the vice president directly owned 35,259 shares of the company’s stock, valued at approximately $7,379,003.52. The trade was a 3.87% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Daniel A. Carestio sold 3,054 shares of the 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. This represents a 4.49% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 7,328 shares of company stock worth $1,554,051. 1.12% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research analysts have weighed in on STE shares. UBS Group initiated coverage on STERIS in a report on Tuesday. They set a “buy” rating and a $275.00 target price on the stock. Wall Street Zen cut STERIS from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 6th. Weiss Ratings lowered STERIS from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, May 27th. Piper Sandler reaffirmed an “overweight” rating and issued a $270.00 price target on shares of STERIS in a research note on Thursday, May 21st. Finally, KeyCorp decreased their price objective on STERIS from $291.00 to $269.00 and set an “overweight” rating for the company in a report on Wednesday, May 13th. Four research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $277.25.

STERIS Price Performance

Shares of STE opened at $235.18 on Thursday. STERIS plc has a fifty-two week low of $195.14 and a fifty-two week high of $269.44. The firm’s 50-day simple moving average is $212.51 and its two-hundred day simple moving average is $226.72. The stock has a market cap of $22.92 billion, a PE ratio of 29.66 and a beta of 0.92. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.54 and a current ratio of 2.09.

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 the consensus estimate of $2.86 by ($0.03). STERIS had a net margin of 13.18% and a return on equity of 14.15%. The business had revenue of $1.59 billion for the quarter, compared to analysts’ expectations of $1.59 billion. During the same quarter in the previous year, the business posted $2.74 earnings per share. STERIS’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. Analysts anticipate that STERIS plc will post 11.18 earnings per share for the current fiscal year.

STERIS Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 26th. Shareholders of record on Monday, June 8th were paid a dividend of $0.63 per share. The ex-dividend date was Monday, June 8th. This represents a $2.52 dividend on an annualized basis and a yield of 1.1%. STERIS’s payout ratio is presently 31.78%.

About STERIS

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.