STERIS plc $STE Position Increased by Royal Bank of Canada

Royal Bank of Canada lifted its holdings in STERIS plc (NYSE:STE) by 22.5% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 204,567 shares of the medical equipment provider’s stock after buying an additional 37,626 shares during the quarter. Royal Bank of Canada owned approximately 0.21% of STERIS worth $45,235,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Jones Financial Companies Lllp lifted its holdings in STERIS by 46.1% in the first quarter. Jones Financial Companies Lllp now owns 1,106 shares of the medical equipment provider’s stock worth $251,000 after acquiring an additional 349 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of STERIS by 32.3% during the first quarter. Goldman Sachs Group Inc. now owns 242,732 shares of the medical equipment provider’s stock valued at $55,015,000 after purchasing an additional 59,264 shares during the last quarter. Empowered Funds LLC grew its holdings in shares of STERIS by 16.1% during the first quarter. Empowered Funds LLC now owns 2,303 shares of the medical equipment provider’s stock valued at $522,000 after purchasing an additional 319 shares during the last quarter. Woodline Partners LP raised its position in shares of STERIS by 40.0% during the 1st quarter. Woodline Partners LP now owns 8,300 shares of the medical equipment provider’s stock worth $1,881,000 after purchasing an additional 2,372 shares during the period. Finally, Jane Street Group LLC lifted its holdings in shares of STERIS by 38.9% in the 1st quarter. Jane Street Group LLC now owns 20,716 shares of the medical equipment provider’s stock worth $4,695,000 after purchasing an additional 5,803 shares during the last quarter. 94.69% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Richard C. Breeden sold 1,481 shares of the firm’s stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $209.51, for a total transaction of $310,284.31. Following the transaction, the director owned 38,964 shares in the company, valued at $8,163,347.64. This trade represents a 3.66% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP John Adam Zangerle sold 1,419 shares of the business’s stock in a transaction that occurred 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 sale, the vice president directly owned 35,259 shares in the company, valued at approximately $7,379,003.52. The trade was a 3.87% 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. In the last three months, insiders have sold 7,328 shares of company stock worth $1,554,051. 1.12% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Piper Sandler restated an “overweight” rating and set a $270.00 price objective on shares of STERIS in a research report on Thursday, May 21st. Wall Street Zen downgraded shares of STERIS from a “buy” rating to a “hold” rating in a report on Saturday. UBS Group assumed coverage on shares of STERIS in a research report on Tuesday, July 28th. They set a “buy” rating and a $275.00 price target for the company. KeyCorp dropped their price objective 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. Finally, Weiss Ratings downgraded shares of STERIS from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, May 27th. Four equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $277.25.

STERIS Trading Up 0.2%

NYSE:STE opened at $228.75 on Monday. STERIS plc has a 1 year low of $195.14 and a 1 year high of $269.44. The stock has a market cap of $22.29 billion, a price-to-earnings ratio of 28.85 and a beta of 0.91. The business has a fifty day moving average of $212.99 and a 200-day moving average of $226.32. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.54 and a current ratio of 2.09.

STERIS (NYSE:STE) last issued its quarterly 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 business had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.59 billion. STERIS had a net margin of 13.18% and a return on equity of 14.15%. STERIS’s revenue for the quarter was up 6.7% on a year-over-year basis. During the same period last year, the business posted $2.74 earnings per share. STERIS has set its FY 2027 guidance at 11.100-11.300 EPS. Equities analysts predict that STERIS plc will post 11.17 earnings per share for the current year.

STERIS Increases Dividend

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

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.