Magnetar Financial LLC Trims Stake in STERIS plc $STE

Magnetar Financial LLC lessened its holdings in shares of STERIS plc (NYSE:STE) by 34.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 25,281 shares of the medical equipment provider’s stock after selling 13,006 shares during the period. Magnetar Financial LLC’s holdings in STERIS were worth $6,256,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the business. Colonial Trust Co SC lifted its stake in shares of STERIS by 0.3% during the 3rd quarter. Colonial Trust Co SC now owns 12,329 shares of the medical equipment provider’s stock worth $3,051,000 after acquiring an additional 42 shares during the last quarter. Allworth Financial LP boosted its holdings in STERIS by 7.3% during the 2nd quarter. Allworth Financial LP now owns 661 shares of the medical equipment provider’s stock valued at $159,000 after acquiring an additional 45 shares during the period. Geneos Wealth Management Inc. grew its position in STERIS by 34.9% in the 2nd quarter. Geneos Wealth Management Inc. now owns 174 shares of the medical equipment provider’s stock valued at $42,000 after acquiring an additional 45 shares during the last quarter. Fifth Third Bancorp grew its position in STERIS by 1.6% in the 3rd quarter. Fifth Third Bancorp now owns 2,953 shares of the medical equipment provider’s stock valued at $731,000 after acquiring an additional 46 shares during the last quarter. Finally, Tokio Marine Asset Management Co. Ltd. increased its stake in STERIS by 1.4% in the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 3,494 shares of the medical equipment provider’s stock worth $865,000 after purchasing an additional 48 shares during the period. Institutional investors own 94.69% of the company’s stock.

Insiders Place Their Bets

In related news, Director Cynthia L. Feldmann sold 3,098 shares of the company’s stock in a transaction dated Thursday, March 5th. The shares were sold at an average price of $237.21, for a total value of $734,876.58. Following the completion of the sale, the director directly owned 705 shares of the company’s stock, valued at $167,233.05. This represents a 81.46% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.07% of the stock is currently owned by company insiders.

STERIS Stock Down 2.5%

Shares of NYSE:STE opened at $221.99 on Wednesday. The business’s 50 day moving average is $253.13 and its 200 day moving average is $251.21. The stock has a market cap of $21.77 billion, a P/E ratio of 30.96 and a beta of 1.05. STERIS plc has a 52-week low of $204.90 and a 52-week high of $269.44. The company has a quick ratio of 1.75, a current ratio of 2.48 and a debt-to-equity ratio of 0.26.

STERIS (NYSE:STE) last issued its earnings results on Wednesday, February 4th. The medical equipment provider reported $2.53 earnings per share for the quarter, meeting analysts’ consensus estimates of $2.53. STERIS had a return on equity of 14.34% and a net margin of 12.15%.During the same quarter last year, the firm posted $2.32 earnings per share. The company’s quarterly revenue was up 9.2% on a year-over-year basis. STERIS has set its FY 2026 guidance at 10.150-10.300 EPS. Sell-side analysts predict that STERIS plc will post 9.08 EPS for the current year.

STERIS Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 19th. Investors of record on Tuesday, February 17th will be issued a $0.63 dividend. This represents a $2.52 annualized dividend and a dividend yield of 1.1%. The ex-dividend date is Tuesday, February 17th. STERIS’s payout ratio is presently 35.15%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on STE shares. Weiss Ratings reissued a “buy (b)” rating on shares of STERIS in a research note on Friday, January 9th. Wall Street Zen raised shares of STERIS from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Six equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, STERIS presently has an average rating of “Moderate Buy” and a consensus target price of $275.20.

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.