Dearborn Partners LLC Takes $23.39 Million Position in STERIS plc $STE

Dearborn Partners LLC acquired a new stake in STERIS plc (NYSE:STE) during the second quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 105,783 shares of the medical equipment provider’s stock, valued at approximately $23,392,000. Dearborn Partners LLC owned approximately 0.11% of STERIS as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in STERIS during the fourth quarter valued at approximately $320,298,000. AQR Capital Management LLC lifted its stake in shares of 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 buying an additional 758,423 shares during the last quarter. Boston Partners bought a new stake in shares of STERIS during the 3rd quarter worth $158,982,000. Orbis Allan Gray Ltd boosted its holdings 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 buying an additional 556,088 shares during the period. Finally, Janus Henderson Group PLC grew its stake in STERIS by 25.7% in the 1st quarter. Janus Henderson Group PLC now owns 1,863,139 shares of the medical equipment provider’s stock valued at $411,995,000 after buying an additional 380,504 shares during the last quarter. 94.69% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

STE has been the topic of several recent analyst reports. UBS Group dropped their target price on shares of STERIS from $275.00 to $270.00 and set a “buy” rating on the stock in a report on Friday, August 7th. Weiss Ratings cut shares of STERIS from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, May 27th. KeyCorp lowered their price target on STERIS from $291.00 to $269.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 13th. Wall Street Zen upgraded STERIS from a “hold” rating to a “buy” rating in a research note on Sunday, August 9th. Finally, Piper Sandler reiterated an “overweight” rating and set a $275.00 target price (up from $270.00) on shares of STERIS in a research note on Friday, August 7th. Three equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $271.33.

STERIS Trading Down 0.1%

STERIS stock opened at $237.72 on Tuesday. The business has a 50 day moving average price of $220.60 and a two-hundred day moving average price of $223.17. The company has a quick ratio of 1.35, a current ratio of 1.91 and a debt-to-equity ratio of 0.23. STERIS plc has a 12 month low of $195.14 and a 12 month high of $269.44. The stock has a market cap of $23.18 billion, a price-to-earnings ratio of 29.06 and a beta of 0.91.

STERIS (NYSE:STE) last announced its quarterly earnings data on Wednesday, August 5th. The medical equipment provider reported $2.59 earnings per share for the quarter, topping the consensus estimate of $2.49 by $0.10. The company had revenue of $1.49 billion for the quarter, compared to analyst estimates of $1.49 billion. STERIS had a return on equity of 14.34% and a net margin of 13.34%.STERIS’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same quarter last year, the firm earned $2.34 EPS. STERIS has set its FY 2027 guidance at 11.000-11.300 EPS. As a group, equities analysts forecast that STERIS plc will post 11.09 EPS for the current year.

STERIS Increases Dividend

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

Insider Buying and Selling at STERIS

In other news, Director Mohsen Sohi sold 4,058 shares of the firm’s stock in a transaction dated Wednesday, August 12th. The shares were sold at an average price of $235.78, for a total transaction of $956,795.24. Following the completion of the transaction, the director directly owned 24,305 shares of the company’s stock, valued at approximately $5,730,632.90. This trade represents a 14.31% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Richard C. Breeden sold 1,481 shares of STERIS stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $209.51, for a total transaction of $310,284.31. Following the sale, 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 disclosure for this sale is available in the SEC filing. Insiders have sold 11,386 shares of company stock worth $2,510,846 over the last three months. 1.12% of the stock is currently owned by corporate insiders.

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.