Marks Group Wealth Management Inc Reduces Holdings in STERIS plc $STE

Marks Group Wealth Management Inc decreased its position in shares of STERIS plc (NYSE:STE) by 13.9% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 26,510 shares of the medical equipment provider’s stock after selling 4,267 shares during the quarter. Marks Group Wealth Management Inc’s holdings in STERIS were worth $5,862,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the company. Board of the Pension Protection Fund purchased a new stake in STERIS during the fourth quarter valued at about $25,000. Activest Wealth Management raised its position in shares of STERIS by 423.8% in the fourth 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 during the period. Measured Wealth Private Client Group LLC bought a new stake in shares of STERIS in the fourth quarter valued at approximately $28,000. Harbor Investment Advisory LLC lifted its stake in shares of STERIS by 115.4% during the 4th quarter. Harbor Investment Advisory LLC now owns 112 shares of the medical equipment provider’s stock valued at $28,000 after buying an additional 60 shares in the last quarter. Finally, Cornerstone Planning Group LLC lifted its stake in shares of STERIS by 342.3% during the 4th quarter. Cornerstone Planning Group LLC now owns 115 shares of the medical equipment provider’s stock valued at $30,000 after buying an additional 89 shares in the last quarter. Hedge funds and other institutional investors own 94.69% of the company’s stock.

Insiders Place Their Bets

In other STERIS news, CEO Daniel A. Carestio sold 1,374 shares of the business’s stock in a transaction on Friday, June 5th. The shares were sold at an average price of $212.00, for a total value of $291,288.00. Following the completion of the sale, the chief executive officer directly owned 63,647 shares of the company’s stock, valued at $13,493,164. The trade was a 2.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Richard C. Breeden sold 1,481 shares of STERIS stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $209.51, for a total value of $310,284.31. Following the completion of the transaction, the director directly owned 38,964 shares in the company, valued at $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 sold 7,328 shares of company stock valued at $1,554,051 over the last three months. Insiders own 1.12% of the company’s stock.

STERIS Trading Up 1.3%

Shares of STERIS stock opened at $211.40 on Thursday. 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 plc has a 1 year low of $195.14 and a 1 year high of $269.44. The firm has a market cap of $20.60 billion, a PE ratio of 26.66 and a beta of 0.92. The company has a 50 day simple moving average of $211.14 and a two-hundred day simple moving average of $229.37.

STERIS (NYSE:STE) last posted its quarterly earnings data on Monday, May 11th. The medical equipment provider reported $2.83 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.86 by ($0.03). The firm had revenue of $1.59 billion during the quarter, compared to analysts’ expectations of $1.59 billion. STERIS had a return on equity of 14.15% and a net margin of 13.18%.STERIS’s revenue for the quarter was up 6.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.74 earnings per share. STERIS has set its FY 2027 guidance at 11.100-11.300 EPS. Analysts expect that STERIS plc will post 11.18 earnings per share for the current fiscal year.

STERIS Announces Dividend

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

Wall Street Analyst Weigh In

A number of research firms recently weighed in on STE. 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. Wall Street Zen downgraded STERIS from a “strong-buy” rating to a “buy” rating in a research report on Saturday, June 6th. Weiss Ratings lowered STERIS from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, May 27th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $270.00 price target on shares of STERIS in a research report on Thursday, May 21st. 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 currently 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.