Stoneridge Investment Partners LLC Invests $1.03 Million in STERIS plc $STE

Stoneridge Investment Partners LLC bought a new stake in shares of STERIS plc (NYSE:STE) in the second quarter, Holdings Channel reports. The institutional investor bought 4,497 shares of the medical equipment provider’s stock, valued at approximately $1,027,000.

Several other large investors also recently bought and sold shares of STE. Jones Financial Companies Lllp raised its stake in STERIS by 46.1% during the first quarter. Jones Financial Companies Lllp now owns 1,106 shares of the medical equipment provider’s stock valued at $251,000 after purchasing an additional 349 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in STERIS by 32.3% during the first quarter. Goldman Sachs Group Inc. now owns 242,732 shares of the medical equipment provider’s stock valued at $55,015,000 after purchasing an additional 59,264 shares during the last quarter. Empowered Funds LLC grew its stake in shares of STERIS by 16.1% in the 1st quarter. Empowered Funds LLC now owns 2,303 shares of the medical equipment provider’s stock worth $522,000 after buying an additional 319 shares in the last quarter. Woodline Partners LP grew its stake in shares of STERIS by 40.0% in the 1st quarter. Woodline Partners LP now owns 8,300 shares of the medical equipment provider’s stock worth $1,881,000 after buying an additional 2,372 shares in the last quarter. Finally, Jane Street Group LLC increased its holdings in shares of STERIS by 38.9% in the 1st quarter. Jane Street Group LLC now owns 20,716 shares of the medical equipment provider’s stock worth $4,695,000 after buying an additional 5,803 shares during the last quarter. Institutional investors own 94.69% of the company’s stock.

STERIS Trading Down 1.4%

Shares of NYSE STE opened at $232.88 on Friday. STERIS plc has a fifty-two week low of $195.14 and a fifty-two week high of $269.44. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.35 and a current ratio of 1.91. The company has a market cap of $22.71 billion, a price-to-earnings ratio of 28.47 and a beta of 0.91. The business’s 50 day moving average price is $217.40 and its 200-day moving average price is $224.60.

STERIS (NYSE:STE) last posted its quarterly earnings data on Wednesday, August 5th. The medical equipment provider reported $2.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.49 by $0.10. The company had revenue of $1.49 billion during the quarter, compared to analysts’ expectations of $1.49 billion. STERIS had a return on equity of 14.34% and a net margin of 13.34%.STERIS’s revenue was up 7.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.34 EPS. STERIS has set its FY 2027 guidance at 11.000-11.300 EPS. On average, sell-side analysts expect that STERIS plc will post 11.09 earnings per share for the current year.

STERIS Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Friday, September 4th will be given a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a dividend yield of 1.2%. This is a positive change from STERIS’s previous quarterly dividend of $0.63. The ex-dividend date is Friday, September 4th. STERIS’s dividend payout ratio is 30.81%.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. UBS Group decreased their target price on shares of STERIS from $275.00 to $270.00 and set a “buy” rating on the stock in a research report on Friday, August 7th. Weiss Ratings downgraded STERIS from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, May 27th. KeyCorp dropped their target price on STERIS from $291.00 to $269.00 and set an “overweight” rating for the company in a report on Wednesday, May 13th. Wall Street Zen raised STERIS from a “hold” rating to a “buy” rating in a research report on Sunday, August 9th. Finally, Piper Sandler restated an “overweight” rating and set a $275.00 price target (up from $270.00) on shares of STERIS in a report on Friday, August 7th. Three research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, STERIS has a consensus rating of “Moderate Buy” and an average price target of $271.33.

Insider Activity at STERIS

In other news, Director Richard C. Breeden sold 1,481 shares of the business’s stock in a transaction 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. The trade was a 3.66% 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 this link. Also, Director Mohsen Sohi sold 4,058 shares of the company’s stock in a transaction dated Wednesday, August 12th. The stock was sold at an average price of $235.78, for a total transaction of $956,795.24. Following the completion of the transaction, the director owned 24,305 shares in the company, valued at approximately $5,730,632.90. The trade was a 14.31% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 11,386 shares of company stock valued at $2,510,846 over the last ninety days. Company 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.