Andra AP fonden Lowers Holdings in STERIS plc $STE

Key Points

• Andra AP fonden cut its STERIS stake by 70.4% in the second quarter, selling 29,600 shares and retaining 12,473 shares worth approximately $2.6 million. Institutional investors collectively own 94.69% of the company.
• STERIS reported quarterly earnings of $2.59 per share, exceeding estimates of $2.49, while revenue rose 7.3% year over year to $1.49 billion. Analysts maintain a “Moderate Buy” consensus with an average price target of $271.33.
• The company increased its quarterly dividend from $0.63 to $0.69 per share, equivalent to an annualized dividend of $2.76 and a 1.3% yield.

Andra AP fonden trimmed its holdings in shares of STERIS plc (NYSE:STE - Free Report) by 70.4% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 12,473 shares of the medical equipment provider's stock after selling 29,600 shares during the quarter. Andra AP fonden's holdings in STERIS were worth $2,626,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Western Wealth Management LLC acquired a new stake in STERIS in the 1st quarter valued at approximately $25,000. Elevation Wealth Partners LLC boosted its position in STERIS by 1,130.0% in the 2nd quarter. Elevation Wealth Partners LLC now owns 123 shares of the medical equipment provider's stock valued at $26,000 after buying an additional 113 shares during the period. Measured Wealth Private Client Group LLC acquired a new stake in shares of STERIS in the fourth quarter valued at $28,000. Meramec Financial Planners LLC acquired a new stake in shares of STERIS in the first quarter valued at $33,000. Finally, Trust Co. of Vermont acquired a new position in STERIS during the 2nd quarter worth $41,000. 94.69% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at STERIS

In other news, Director Mohsen Sohi sold 4,058 shares of the business's stock in a transaction dated Wednesday, August 12th. The shares were sold at an average price of $235.78, for a total transaction of $956,795.24. Following the transaction, the director directly owned 24,305 shares in the company, valued at $5,730,632.90. The trade was a 14.31% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 1.12% of the company's stock.

Analyst Ratings Changes

STE has been the topic of several analyst reports. Wall Street Zen raised shares of STERIS from a "hold" rating to a "buy" rating in a report on Sunday, August 9th. Piper Sandler reissued 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. Weiss Ratings restated a "hold (c)" rating on shares of STERIS in a research note on Monday, August 24th. Finally, UBS Group decreased their price target on STERIS from $275.00 to $270.00 and set a "buy" rating for the company in a report on Friday, August 7th. Three equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $271.33.

STERIS Trading Up 0.6%

NYSE:STE opened at $209.97 on Thursday. The stock's 50 day moving average price is $224.88 and its 200 day moving average price is $218.81. The company has a market capitalization of $20.47 billion, a PE ratio of 25.67 and a beta of 0.91. The company has a quick ratio of 1.35, a current ratio of 1.91 and a debt-to-equity ratio of 0.23. STERIS plc has a 52-week low of $195.14 and a 52-week high of $269.44.

STERIS (NYSE:STE - Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The medical equipment provider reported $2.59 earnings per share for the quarter, beating analysts' consensus estimates of $2.49 by $0.10. The company had revenue of $1.49 billion during the quarter, compared to analysts' expectations of $1.49 billion. STERIS had a return on equity of 14.34% and a net margin of 13.34%.The firm's revenue for the quarter was up 7.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.34 earnings per share. STERIS has set its FY 2027 guidance at 11.000-11.300 EPS. On average, research analysts anticipate that STERIS plc will post 11.12 EPS for the current year.

STERIS Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Friday, September 4th will be paid a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a dividend yield of 1.3%. This is a boost from STERIS's previous quarterly dividend of $0.63. The ex-dividend date is Friday, September 4th. STERIS's dividend payout ratio (DPR) is currently 33.74%.

STERIS Profile

STERIS plc NYSE: STE is a global provider of products and services designed to support infection prevention, sterilization, surgical procedures and other critical healthcare and life sciences activities. The company serves hospitals, ambulatory surgery centers, dental practices, pharmaceutical and biotechnology manufacturers, medical device companies, and research organizations.

Its offerings include sterilizers, washers, surgical tables and lights, operating-room equipment, endoscopy products, infection-prevention consumables, and related maintenance and technical services.

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