STERIS plc $STE Stock: Sustainable Growth Advisers LP Reduces Stake

Sustainable Growth Advisers LP reduced its stake in STERIS plc (NYSE:STE) by 36.6% in the third quarter, HoldingsChannel reports. The fund owned 237,752 shares of the medical equipment provider’s stock after selling 137,485 shares during the quarter. Sustainable Growth Advisers LP’s holdings in STERIS were worth $49,930,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Western Wealth Management LLC bought a new position in shares of STERIS in the first quarter valued at approximately $25,000. Elevation Wealth Partners LLC raised its holdings in STERIS by 1,130.0% during the second quarter. Elevation Wealth Partners LLC now owns 123 shares of the medical equipment provider’s stock worth $26,000 after purchasing an additional 113 shares in the last quarter. Meramec Financial Planners LLC acquired a new stake in STERIS in the first quarter worth approximately $33,000. Trust Co. of Vermont acquired a new stake in STERIS in the second quarter worth approximately $41,000. Finally, Community Financial Services Group LLC lifted its position in STERIS by 50.0% in the third quarter. Community Financial Services Group LLC now owns 216 shares of the medical equipment provider’s stock worth $45,000 after purchasing an additional 72 shares during the period. 94.69% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

STE has been the subject of a number of research reports. UBS Group decreased their price target on STERIS from $275.00 to $270.00 and set a “buy” rating for the company in a research note on Friday, August 7th. Wall Street Zen downgraded STERIS from a “strong-buy” rating to a “buy” rating in a research note on Sunday, October 11th. Weiss Ratings restated a “hold (c)” rating on shares of STERIS in a report on Monday, August 24th. Finally, Piper Sandler restated an “overweight” rating and issued a $275.00 price objective (up from $270.00) on shares of STERIS in a report on Friday, August 7th. Three research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $271.33.

STERIS Stock Performance

STE opened at $224.06 on Friday. The company has a quick ratio of 1.35, a current ratio of 1.91 and a debt-to-equity ratio of 0.23. The firm has a market cap of $21.85 billion, a PE ratio of 20.85 and a beta of 0.92. The business has a fifty day simple moving average of $221.39 and a 200-day simple moving average of $217.87. STERIS plc has a fifty-two week low of $195.14 and a fifty-two week high of $269.44.

STERIS (NYSE:STE) last announced its earnings results on Wednesday, August 5th. The medical equipment provider reported $2.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.49 by $0.10. STERIS had a return on equity of 14.34% and a net margin of 13.34%. The company had revenue of $1.49 billion for the quarter, compared to analyst estimates of $1.49 billion. During the same period in the previous year, the firm earned $2.34 earnings per share. STERIS’s revenue for the quarter was up 7.3% compared to the same quarter last year. STERIS has set its FY 2027 guidance at 11.000-11.300 EPS. As a group, equities analysts predict that STERIS plc will post 11.12 EPS for the current fiscal year.

STERIS Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 25th. Investors of record on Friday, September 4th were paid a $0.69 dividend. The ex-dividend date of this dividend was Friday, September 4th. This represents a $2.76 dividend on an annualized basis and a yield of 1.2%. This is an increase from STERIS’s previous quarterly dividend of $0.63. STERIS’s dividend payout ratio (DPR) is 33.74%.

Insiders Place Their Bets

In other STERIS news, Director Mohsen Sohi sold 4,058 shares of the business’s stock in a transaction dated Wednesday, August 12th. The stock was sold at an average price of $235.78, for a total transaction of $956,795.24. Following the sale, the director owned 24,305 shares in the company, valued at approximately $5,730,632.90. The trade was a 14.31% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.12% of the company’s stock.

About STERIS

STERIS plc (NYSE: STE) provides products and services designed to support infection prevention, surgical procedures, and the manufacture of healthcare and pharmaceutical products. The company serves healthcare providers, pharmaceutical and biotechnology manufacturers, and other organizations that require controlled, sterile environments.

Its Healthcare segment offers sterilization and decontamination equipment, operating-room products, surgical instruments, endoscopy products, consumables, and related maintenance and procedural services.