Rockefeller Capital Management L.P. Raises Stock Holdings in STERIS plc $STE

Rockefeller Capital Management L.P. grew its position in STERIS plc (NYSE:STE) by 59.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 13,613 shares of the medical equipment provider’s stock after acquiring an additional 5,079 shares during the quarter. Rockefeller Capital Management L.P.’s holdings in STERIS were worth $3,451,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. Norges Bank acquired a new position in shares of STERIS in the 4th quarter valued at $320,298,000. AQR Capital Management LLC boosted its stake in STERIS by 178.6% during the 3rd quarter. AQR Capital Management LLC now owns 1,183,070 shares of the medical equipment provider’s stock worth $291,704,000 after purchasing an additional 758,423 shares during the period. Boston Partners acquired a new stake in STERIS during the 3rd quarter worth $158,982,000. Orbis Allan Gray Ltd grew its position in STERIS by 36.0% during the 2nd quarter. Orbis Allan Gray Ltd now owns 2,100,099 shares of the medical equipment provider’s stock worth $504,486,000 after purchasing an additional 556,088 shares during the last quarter. Finally, State Street Corp grew its position in STERIS by 6.0% during the 4th quarter. State Street Corp now owns 4,614,840 shares of the medical equipment provider’s stock worth $1,169,957,000 after purchasing an additional 260,001 shares during the last quarter. 94.69% of the stock is currently owned by hedge funds and other institutional investors.

STERIS Stock Performance

NYSE:STE opened at $215.59 on Friday. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.09 and a quick ratio of 1.54. 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 firm’s fifty day moving average price is $212.77 and its 200 day moving average price is $233.29. STERIS plc has a 1-year low of $195.14 and a 1-year high of $269.44.

STERIS (NYSE:STE) last announced its quarterly earnings data 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). STERIS had a return on equity of 14.15% and a net margin of 13.18%.The firm had revenue of $1.59 billion for the quarter, compared to analysts’ expectations of $1.59 billion. During the same quarter in the previous year, the company posted $2.74 EPS. The firm’s quarterly 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, sell-side analysts expect that STERIS plc will post 11.18 EPS for the current year.

STERIS Dividend Announcement

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

Insider Buying and Selling

In related news, CEO Daniel A. Carestio sold 3,054 shares of the firm’s stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $214.64, for a total value of $655,510.56. Following the completion of the sale, the chief executive officer owned 65,021 shares in the company, valued at $13,956,107.44. This trade represents a 4.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP John Adam Zangerle sold 1,419 shares of STERIS 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 completion of the sale, the vice president directly owned 35,259 shares in the company, valued at $7,379,003.52. This represents a 3.87% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 7,328 shares of company stock valued at $1,554,051 over the last ninety days. Corporate insiders own 1.12% of the company’s stock.

Wall Street Analyst Weigh In

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