Sustainable Growth Advisers LP Has $192.34 Million Stock Position in STERIS plc $STE

Sustainable Growth Advisers LP reduced its position in shares of STERIS plc (NYSE:STE) by 28.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 758,684 shares of the medical equipment provider’s stock after selling 306,974 shares during the quarter. STERIS comprises about 1.3% of Sustainable Growth Advisers LP’s portfolio, making the stock its 27th biggest position. Sustainable Growth Advisers LP’s holdings in STERIS were worth $192,342,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Board of the Pension Protection Fund acquired a new position in STERIS during the 4th quarter worth approximately $25,000. Activest Wealth Management raised its stake in STERIS by 423.8% during the 4th quarter. Activest Wealth Management now owns 110 shares of the medical equipment provider’s stock worth $28,000 after buying an additional 89 shares during the period. Measured Wealth Private Client Group LLC acquired a new position in STERIS during the 4th quarter worth approximately $28,000. Harbor Investment Advisory LLC raised its stake in STERIS by 115.4% during the 4th quarter. Harbor Investment Advisory LLC now owns 112 shares of the medical equipment provider’s stock worth $28,000 after buying an additional 60 shares during the period. Finally, Cornerstone Planning Group LLC raised its stake 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 buying an additional 89 shares during the period. 94.69% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at STERIS

In related news, Director Cynthia L. Feldmann sold 3,098 shares of the firm’s stock in a transaction dated Thursday, March 5th. The shares were sold at an average price of $237.21, for a total transaction of $734,876.58. Following the completion of the sale, the director owned 705 shares in the company, valued at approximately $167,233.05. This trade represents a 81.46% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 1.07% of the company’s stock.

STERIS Stock Performance

Shares of STE opened at $210.80 on Tuesday. The company has a current ratio of 2.09, a quick ratio of 1.54 and a debt-to-equity ratio of 0.25. The company has a market capitalization of $20.67 billion, a price-to-earnings ratio of 26.58 and a beta of 0.93. The stock has a 50 day moving average of $218.10 and a 200 day moving average of $240.37. STERIS plc has a 12 month low of $195.14 and a 12 month high of $269.44.

STERIS (NYSE:STE) last announced its earnings results on Monday, May 11th. The medical equipment provider reported $2.83 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.86 by ($0.03). STERIS had a net margin of 13.18% and a return on equity of 14.15%. The business had revenue of $1.59 billion for the quarter, compared to analysts’ expectations of $1.59 billion. During the same period in the prior year, the business earned $2.74 earnings per share. The company’s revenue for the quarter was up 6.7% compared to the same quarter last year. STERIS has set its FY 2027 guidance at 11.100-11.300 EPS. As a group, sell-side analysts forecast 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 will be paid on Friday, June 26th. Investors of record on Monday, June 8th will be issued a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date is Monday, June 8th. STERIS’s dividend payout ratio (DPR) is 31.78%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on STE. Weiss Ratings downgraded STERIS from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday, May 27th. KeyCorp lowered their price objective on STERIS from $291.00 to $269.00 and set an “overweight” rating for the company in a research note on Wednesday, May 13th. Piper Sandler reissued an “overweight” rating and issued a $270.00 price objective on shares of STERIS in a research note on Thursday, May 21st. Finally, Wall Street Zen raised STERIS from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 16th. Three equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the stock 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.