Prudential PLC Sells 21,664 Shares of STERIS plc $STE

Prudential PLC reduced its holdings in shares of STERIS plc (NYSE:STE) by 40.3% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 32,124 shares of the medical equipment provider’s stock after selling 21,664 shares during the period. Prudential PLC’s holdings in STERIS were worth $8,144,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of STE. Nordea Investment Management AB raised its holdings in STERIS by 259.0% in the 4th quarter. Nordea Investment Management AB now owns 51,602 shares of the medical equipment provider’s stock worth $13,165,000 after purchasing an additional 37,228 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in STERIS by 9.4% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,039,351 shares of the medical equipment provider’s stock worth $257,157,000 after purchasing an additional 89,250 shares in the last quarter. Legal & General Group Plc raised its holdings in STERIS by 5.3% in the 3rd quarter. Legal & General Group Plc now owns 693,116 shares of the medical equipment provider’s stock worth $171,505,000 after purchasing an additional 34,981 shares in the last quarter. Elo Mutual Pension Insurance Co bought a new position in STERIS in the 3rd quarter worth $2,480,000. Finally, Groupama Asset Managment bought a new position in STERIS in the 3rd quarter worth $1,163,000. 94.69% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on STE shares. KeyCorp decreased their price target 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 lowered shares of STERIS from a “strong-buy” rating to a “buy” rating in a research note on Saturday. Weiss Ratings downgraded shares of STERIS from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, May 27th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $270.00 price target on shares of STERIS in a report on Thursday, May 21st. Three research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, STERIS has an average rating of “Moderate Buy” and an average price target of $278.00.

Insider Buying and Selling at STERIS

In related news, Director Richard C. Breeden sold 1,481 shares of the firm’s stock in a transaction on Tuesday, June 2nd. The shares were 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 of the company’s stock, valued at approximately $8,163,347.64. This trade represents a 3.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 1.07% of the company’s stock.

STERIS Price Performance

NYSE STE opened at $212.13 on Friday. STERIS plc has a 12 month low of $195.14 and a 12 month high of $269.44. The stock has a market cap of $20.70 billion, a price-to-earnings ratio of 26.75 and a beta of 0.93. The company’s 50 day moving average is $217.24 and its two-hundred day moving average is $239.09. The company has a current ratio of 2.09, a quick ratio of 1.54 and a debt-to-equity ratio of 0.25.

STERIS (NYSE:STE) last released its earnings results on Monday, May 11th. The medical equipment provider reported $2.83 EPS for the quarter, missing analysts’ consensus estimates 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%.STERIS’s revenue was up 6.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.74 EPS. STERIS has set its FY 2027 guidance at 11.100-11.300 EPS. As a group, research analysts anticipate that STERIS plc will post 11.18 earnings per share for the current year.

STERIS Announces Dividend

The firm 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. The ex-dividend date of this dividend is Monday, June 8th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.2%. STERIS’s dividend payout ratio (DPR) is 31.78%.

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.