Pictet Asset Management Holding SA Buys 69,670 Shares of STERIS plc $STE

Pictet Asset Management Holding SA lifted its stake in STERIS plc (NYSE:STE) by 9.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 823,649 shares of the medical equipment provider’s stock after purchasing an additional 69,670 shares during the quarter. Pictet Asset Management Holding SA’s holdings in STERIS were worth $182,108,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. GHP Investment Advisors Inc. grew its position in STERIS by 3.9% during the 1st quarter. GHP Investment Advisors Inc. now owns 69,657 shares of the medical equipment provider’s stock valued at $15,403,000 after purchasing an additional 2,597 shares during the last quarter. Louisiana State Employees Retirement System bought a new stake in STERIS during the 1st quarter valued at about $1,106,000. Fifth Third Wealth Advisors LLC raised its holdings in STERIS by 2.7% in the first quarter. Fifth Third Wealth Advisors LLC now owns 3,336 shares of the medical equipment provider’s stock worth $738,000 after buying an additional 87 shares during the last quarter. Banque Cantonale Vaudoise purchased a new position in STERIS in the first quarter worth about $566,000. Finally, Assenagon Asset Management S.A. lifted its stake in shares of STERIS by 160.6% in the first quarter. Assenagon Asset Management S.A. now owns 48,846 shares of the medical equipment provider’s stock worth $10,801,000 after buying an additional 30,104 shares in the last quarter. Institutional investors own 94.69% of the company’s stock.

STERIS Price Performance

Shares of NYSE:STE opened at $215.59 on Monday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.54 and a current ratio of 2.09. The firm has a market cap of $21.01 billion, a price-to-earnings ratio of 27.19 and a beta of 0.93. The business has a 50-day simple moving average of $212.77 and a two-hundred day simple moving average of $233.10. STERIS plc has a fifty-two week low of $195.14 and a fifty-two week high of $269.44.

STERIS (NYSE:STE) last announced its quarterly earnings results 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). STERIS had a net margin of 13.18% and a return on equity of 14.15%. The company had revenue of $1.59 billion for the quarter, compared to analysts’ expectations of $1.59 billion. During the same period in the previous year, the business earned $2.74 EPS. The business’s revenue was up 6.7% compared to the same quarter last year. STERIS has set its FY 2027 guidance at 11.100-11.300 EPS. On average, analysts expect that STERIS plc will post 11.18 earnings per share for the current year.

STERIS Dividend Announcement

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

Insider Buying and Selling

In related news, VP John Adam Zangerle sold 1,419 shares of the firm’s stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $209.28, for a total value of $296,968.32. Following the sale, the vice president owned 35,259 shares in the company, valued at approximately $7,379,003.52. This trade represents a 3.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Daniel A. Carestio sold 1,374 shares of STERIS stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $212.00, for a total transaction 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 approximately $13,493,164. This trade represents a 2.11% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 7,328 shares of company stock worth $1,554,051. 1.12% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

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

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.