Edgestream Partners L.P. Acquires New Position in STERIS plc $STE

Edgestream Partners L.P. acquired a new stake in STERIS plc (NYSE:STE) in the 1st quarter, HoldingsChannel.com reports. The institutional investor acquired 28,117 shares of the medical equipment provider’s stock, valued at approximately $6,218,000.

A number of other hedge funds have also added to or reduced their stakes in STE. Activest Wealth Management raised its stake in shares of 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 acquiring an additional 89 shares in the last quarter. Measured Wealth Private Client Group LLC bought a new position in STERIS in the fourth quarter worth approximately $28,000. Geneos Wealth Management Inc. grew its stake in STERIS by 416.0% in the first quarter. Geneos Wealth Management Inc. now owns 129 shares of the medical equipment provider’s stock worth $29,000 after purchasing an additional 104 shares in the last quarter. Cornerstone Planning Group LLC increased its holdings in STERIS by 342.3% during the 4th quarter. Cornerstone Planning Group LLC now owns 115 shares of the medical equipment provider’s stock worth $30,000 after purchasing an additional 89 shares during the period. Finally, Meramec Financial Planners LLC purchased a new position in STERIS during the 1st quarter worth $33,000. 94.69% of the stock is currently owned by institutional investors.

STERIS Stock Down 1.5%

NYSE:STE opened at $231.32 on Friday. STERIS plc has a fifty-two week low of $195.14 and a fifty-two week high of $269.44. The stock has a market capitalization of $22.54 billion, a P/E ratio of 29.17 and a beta of 0.92. 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 company’s 50-day simple moving average is $212.75 and its 200-day simple moving average is $226.54.

STERIS (NYSE:STE) last posted its quarterly earnings data on Monday, May 11th. The medical equipment provider reported $2.83 EPS for the quarter, missing the consensus estimate of $2.86 by ($0.03). The firm 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 revenue was up 6.7% compared to the same quarter last year. During the same quarter last year, the firm earned $2.74 EPS. STERIS has set its FY 2027 guidance at 11.100-11.300 EPS. On average, equities analysts anticipate that STERIS plc will post 11.18 earnings per share for the current fiscal year.

STERIS Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Friday, September 4th will be issued a $0.69 dividend. This is an increase from STERIS’s previous quarterly dividend of $0.63. This represents a $2.76 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend is Friday, September 4th. STERIS’s dividend payout ratio is presently 31.78%.

Insiders Place Their Bets

In other news, Director Richard C. Breeden sold 1,481 shares of the firm’s stock in a transaction 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 sale, the director owned 38,964 shares of the company’s stock, valued at $8,163,347.64. This trade represents a 3.66% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP John Adam Zangerle sold 1,419 shares of the business’s stock in a transaction on Monday, June 15th. The stock was sold at an average price of $209.28, for a total value of $296,968.32. Following the transaction, 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. 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 three months, insiders have sold 7,328 shares of company stock valued at $1,554,051. 1.12% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. KeyCorp decreased their target price on STERIS from $291.00 to $269.00 and set an “overweight” rating for the company in a research report on Wednesday, May 13th. UBS Group began coverage on STERIS in a research report on Tuesday. They set a “buy” rating and a $275.00 price target on the stock. Weiss Ratings lowered STERIS from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday, May 27th. Piper Sandler restated an “overweight” rating and issued a $270.00 price objective on shares of STERIS in a report on Thursday, May 21st. Finally, Wall Street Zen lowered shares of STERIS from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 6th. Four equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $277.25.

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.