Addenda Capital Inc. Grows Stock Position in STERIS plc $STE

Addenda Capital Inc. boosted its position in shares of STERIS plc (NYSE:STE - Free Report) by 62.7% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 78,093 shares of the medical equipment provider's stock after buying an additional 30,090 shares during the quarter. Addenda Capital Inc. owned approximately 0.08% of STERIS worth $16,444,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. State Street Corp boosted its stake in STERIS by 6.0% during the fourth quarter. State Street Corp now owns 4,614,840 shares of the medical equipment provider's stock worth $1,169,957,000 after acquiring an additional 260,001 shares in the last quarter. Wellington Management Group LLP increased its holdings in shares of STERIS by 21.9% in the 2nd quarter. Wellington Management Group LLP now owns 3,502,897 shares of the medical equipment provider's stock worth $737,605,000 after purchasing an additional 629,532 shares in the last quarter. Geode Capital Management LLC raised its position in STERIS by 0.6% in the 4th quarter. Geode Capital Management LLC now owns 2,523,620 shares of the medical equipment provider's stock worth $637,259,000 after buying an additional 14,151 shares during the last quarter. Orbis Allan Gray Ltd lifted its position in STERIS by 5.6% during the fourth quarter. Orbis Allan Gray Ltd now owns 2,249,511 shares of the medical equipment provider's stock valued at $570,296,000 after purchasing an additional 120,200 shares during the period. Finally, Janus Henderson Group PLC lifted its holdings in shares of STERIS by 25.7% during the 1st quarter. Janus Henderson Group PLC now owns 1,863,139 shares of the medical equipment provider's stock valued at $411,995,000 after buying an additional 380,504 shares during the period. Hedge funds and other institutional investors own 94.69% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on STE. KeyCorp cut their price target on STERIS from $291.00 to $269.00 and set an "overweight" rating for the company in a report on Wednesday, May 13th. Wall Street Zen raised shares of STERIS from a "hold" rating to a "buy" rating in a research note on Sunday, August 9th. UBS Group decreased their price objective on shares of 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 restated a "hold (c)" rating on shares of STERIS in a research note on Monday, August 24th. Finally, Piper Sandler reaffirmed an "overweight" rating and issued a $275.00 target price (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 company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $271.33.

Insider Activity at STERIS

In other news, Director Mohsen Sohi sold 4,058 shares of STERIS stock in a transaction dated Wednesday, August 12th. The stock was sold at an average price of $235.78, for a total value of $956,795.24. Following the sale, the director directly owned 24,305 shares of the company's stock, valued at approximately $5,730,632.90. The trade was a 14.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP John Adam Zangerle sold 1,419 shares of STERIS stock in a transaction dated Monday, June 15th. The stock was 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 trade represents a 3.87% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 11,386 shares of company stock worth $2,510,846 in the last quarter. 1.12% of the stock is owned by company insiders.

STERIS Trading Down 0.1%

STE stock opened at $233.52 on Monday. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.91 and a quick ratio of 1.35. STERIS plc has a 1-year low of $195.14 and a 1-year high of $269.44. The business has a 50 day simple moving average of $223.17 and a two-hundred day simple moving average of $222.70. The company has a market capitalization of $22.77 billion, a price-to-earnings ratio of 28.55 and a beta of 0.91.

STERIS (NYSE:STE - Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The medical equipment provider reported $2.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.49 by $0.10. STERIS had a net margin of 13.34% and a return on equity of 14.34%. The firm had revenue of $1.49 billion for the quarter, compared to analysts' expectations of $1.49 billion. During the same quarter last year, the business posted $2.34 earnings per share. The company'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. Research analysts anticipate that STERIS plc will post 11.09 EPS for the current fiscal 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 paid a $0.69 dividend. This represents a $2.76 annualized dividend and a yield of 1.2%. The ex-dividend date is Friday, September 4th. This is an increase from STERIS's previous quarterly dividend of $0.63. STERIS's dividend payout ratio is presently 30.81%.

STERIS Company 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.

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