8,560 STERIS plc $STE Shares Acquired by Deroy & Devereaux Private Investment Counsel Inc.

Key Points

• Deroy & Devereaux increased its STERIS stake by 51% in the third quarter, adding 8,560 shares to own 25,355 shares valued at approximately $5.3 million. Institutional investors collectively hold 94.69% of STERIS stock.
• Analysts maintain a favorable outlook, with a consensus “Moderate Buy” rating and an average price target of $271.33, compared with the stock’s reported price of $229.78.
• STERIS reported quarterly EPS of $2.59, exceeding estimates, while revenue rose 7.3% year over year to $1.49 billion. The company also increased its quarterly dividend to $0.69, equivalent to an annualized $2.76 payout and a 1.2% yield.

Deroy & Devereaux Private Investment Counsel Inc. grew its stake in STERIS plc (NYSE:STE - Free Report) by 51.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 25,355 shares of the medical equipment provider's stock after purchasing an additional 8,560 shares during the quarter. Deroy & Devereaux Private Investment Counsel Inc.'s holdings in STERIS were worth $5,325,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. NewEdge Advisors LLC lifted its stake in STERIS by 0.7% in the 2nd quarter. NewEdge Advisors LLC now owns 8,118 shares of the medical equipment provider's stock valued at $1,710,000 after buying an additional 56 shares in the last quarter. Root Financial Partners LLC boosted its holdings in STERIS by 30.7% in the 1st quarter. Root Financial Partners LLC now owns 247 shares of the medical equipment provider's stock worth $55,000 after buying an additional 58 shares during the last quarter. Taylor Frigon Capital Management LLC increased its stake in STERIS by 0.9% during the 3rd quarter. Taylor Frigon Capital Management LLC now owns 6,505 shares of the medical equipment provider's stock worth $1,366,000 after buying an additional 58 shares in the last quarter. Strengthening Families & Communities LLC increased its stake in STERIS by 0.6% during the 3rd quarter. Strengthening Families & Communities LLC now owns 10,884 shares of the medical equipment provider's stock worth $2,286,000 after buying an additional 61 shares in the last quarter. Finally, Mather Group LLC. raised its holdings in shares of STERIS by 14.4% during the third quarter. Mather Group LLC. now owns 565 shares of the medical equipment provider's stock valued at $119,000 after acquiring an additional 71 shares during the last quarter. Hedge funds and other institutional investors own 94.69% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on STE shares. UBS Group decreased their target price on STERIS from $275.00 to $270.00 and set a "buy" rating on the stock in a research report on Friday, August 7th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of STERIS in a research note on Monday, August 24th. Piper Sandler reiterated an "overweight" rating and set a $275.00 price target (up from $270.00) on shares of STERIS in a research report on Friday, August 7th. Finally, Wall Street Zen cut STERIS from a "strong-buy" rating to a "buy" rating in a research report on Sunday, October 11th. Three 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, the company presently has a consensus rating of "Moderate Buy" and an average target price of $271.33.

STERIS Stock Performance

STE opened at $229.78 on Tuesday. STERIS plc has a twelve month low of $195.14 and a twelve month high of $269.44. The firm has a market capitalization of $22.40 billion, a PE ratio of 22.28 and a beta of 0.92. The company has a current ratio of 1.91, a quick ratio of 1.35 and a debt-to-equity ratio of 0.23. The firm's 50-day moving average price is $220.19 and its 200 day moving average price is $225.81.

STERIS (NYSE:STE - Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The medical equipment provider reported $2.59 EPS for the quarter, beating analysts' consensus estimates of $2.49 by $0.10. STERIS had a net margin of 13.34% and a return on equity of 14.34%. The company had revenue of $1.49 billion during the quarter, compared to the consensus estimate of $1.49 billion. During the same quarter in the prior year, the firm earned $2.34 EPS. STERIS's quarterly revenue was up 7.3% on a year-over-year basis. STERIS has set its FY 2027 guidance at 11.000-11.300 EPS. As a group, sell-side analysts expect 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. Stockholders of record on Friday, September 4th were given a $0.69 dividend. This represents a $2.76 dividend on an annualized basis and a dividend yield of 1.2%. This is a boost from STERIS's previous quarterly dividend of $0.63. The ex-dividend date was Friday, September 4th. STERIS's dividend payout ratio (DPR) is currently 33.74%.

Insider Activity

In related news, Director Mohsen Sohi sold 4,058 shares of the stock in a transaction that occurred on Wednesday, August 12th. The stock was sold at an average price of $235.78, for a total value of $956,795.24. Following the completion of the sale, the director owned 24,305 shares of the company's stock, valued at approximately $5,730,632.90. This trade represents a 14.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.12% of the stock is owned by company insiders.

STERIS Company Profile

STERIS plc NYSE: STE provides products and services designed to support infection prevention, procedural care and the safe manufacture of healthcare and life sciences products. Its offerings include surgical equipment and operating-room solutions, sterilization and decontamination systems, endoscopy products, cleaning and disinfection technologies, and related consumable products.

The company also provides outsourced sterilization and laboratory services through its Applied Sterilization Technologies business.

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