Insider Selling: STERIS (NYSE:STE) VP Sells $296,968.32 in Stock

STERIS plc (NYSE:STE) VP John Adam Zangerle sold 1,419 shares of the business’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $209.28, for a total transaction of $296,968.32. Following the completion of the sale, the vice president owned 35,259 shares in the company, valued at $7,379,003.52. The trade was a 3.87% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

STERIS Stock Up 1.6%

STE stock opened at $202.59 on Friday. STERIS plc has a 12 month low of $195.14 and a 12 month high of $269.44. The firm has a market cap of $19.74 billion, a PE ratio of 25.55 and a beta of 0.93. The firm has a 50 day simple moving average of $214.84 and a 200 day simple moving average of $235.41. 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 (NYSE:STE) last issued its earnings results on Monday, May 11th. The medical equipment provider reported $2.83 earnings per share for the quarter, missing analysts’ consensus estimates of $2.86 by ($0.03). The business had revenue of $1.59 billion for the quarter, compared to the consensus estimate of $1.59 billion. STERIS had a return on equity of 14.15% and a net margin of 13.18%.The company’s quarterly revenue was up 6.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.74 earnings per share. STERIS has set its FY 2027 guidance at 11.100-11.300 EPS. Equities research analysts forecast that STERIS plc will post 11.18 earnings per share for the current fiscal year.

STERIS Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 26th. Investors of record on Monday, June 8th will be issued a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date is Monday, June 8th. STERIS’s payout ratio is presently 31.78%.

Institutional Trading of STERIS

Hedge funds have recently modified their holdings of the business. Board of the Pension Protection Fund purchased a new position in shares of STERIS during the fourth quarter valued at $25,000. Activest Wealth Management raised its position in STERIS by 423.8% during the fourth quarter. Activest Wealth Management now owns 110 shares of the medical equipment provider’s stock valued at $28,000 after buying an additional 89 shares during the period. Measured Wealth Private Client Group LLC purchased a new stake in STERIS in the 4th quarter worth about $28,000. Harbor Investment Advisory LLC lifted its stake in STERIS by 115.4% in the 4th quarter. Harbor Investment Advisory LLC now owns 112 shares of the medical equipment provider’s stock worth $28,000 after acquiring an additional 60 shares in the last quarter. Finally, Western Wealth Management LLC acquired a new stake in STERIS during the 1st quarter worth about $25,000. Hedge funds and other institutional investors own 94.69% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently commented on STE. Piper Sandler reaffirmed an “overweight” rating and set a $270.00 target price on shares of STERIS in a report on Thursday, May 21st. Wall Street Zen cut STERIS from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 6th. Weiss Ratings downgraded STERIS from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, May 27th. Finally, KeyCorp reduced their price objective on shares of STERIS from $291.00 to $269.00 and set an “overweight” rating for the company in a research note on Wednesday, May 13th. Three analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $278.00.

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.