Assenagon Asset Management S.A. Has $16.10 Million Stake in STERIS plc $STE

Key Points

• Assenagon Asset Management increased its STERIS stake by 56.5% in the second quarter, holding 76,440 shares valued at approximately $16.1 million. Institutional investors collectively own 94.69% of the company.
• Analysts maintain a generally positive outlook, with STERIS carrying a consensus “Moderate Buy” rating and an average price target of $271.33, despite some target reductions.
• STERIS exceeded quarterly earnings expectations, reporting $2.59 in EPS and $1.49 billion in revenue, while revenue grew 7.3% year over year. The company also raised its quarterly dividend from $0.63 to $0.69 per share.

Assenagon Asset Management S.A. raised its position in shares of STERIS plc (NYSE:STE - Free Report) by 56.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 76,440 shares of the medical equipment provider's stock after purchasing an additional 27,594 shares during the quarter. Assenagon Asset Management S.A. owned 0.08% of STERIS worth $16,096,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. Bailard Inc. lifted its stake in STERIS by 3.5% in the 4th quarter. Bailard Inc. now owns 1,118 shares of the medical equipment provider's stock worth $283,000 after acquiring an additional 38 shares in the last quarter. Geneos Wealth Management Inc. grew its position in STERIS by 34.9% during the second quarter. Geneos Wealth Management Inc. now owns 174 shares of the medical equipment provider's stock valued at $42,000 after purchasing an additional 45 shares in the last quarter. Clear Harbor Asset Management LLC grew its position in STERIS by 3.8% during the fourth quarter. Clear Harbor Asset Management LLC now owns 1,350 shares of the medical equipment provider's stock valued at $342,000 after purchasing an additional 50 shares in the last quarter. apricus wealth LLC increased its stake in STERIS by 3.6% in the 1st quarter. apricus wealth LLC now owns 1,506 shares of the medical equipment provider's stock valued at $333,000 after buying an additional 53 shares during the period. Finally, Northwestern Mutual Wealth Management Co. lifted its position in STERIS by 2.4% in the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 2,261 shares of the medical equipment provider's stock worth $560,000 after buying an additional 53 shares in the last quarter. Hedge funds and other institutional investors own 94.69% of the company's stock.

Analysts Set New Price Targets

STE has been the topic of several research analyst reports. UBS Group lowered their price target on shares of STERIS from $275.00 to $270.00 and set a "buy" rating on the stock in a report on Friday. KeyCorp cut their price objective on STERIS from $291.00 to $269.00 and set an "overweight" rating for the company in a report on Wednesday, May 13th. Piper Sandler reissued an "overweight" rating and set a $275.00 price objective (up from $270.00) on shares of STERIS in a research report on Friday. Weiss Ratings lowered STERIS from a "hold (c+)" rating to a "hold (c)" rating in a research report on Wednesday, May 27th. Finally, Wall Street Zen raised STERIS from a "hold" rating to a "buy" rating in a research note on Sunday. Three analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, STERIS has a consensus rating of "Moderate Buy" and a consensus target price of $271.33.

Insider Buying and Selling at STERIS

In other news, CEO Daniel A. Carestio sold 3,054 shares of STERIS stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $214.64, for a total value of $655,510.56. Following the transaction, the chief executive officer owned 65,021 shares of the company's stock, valued at $13,956,107.44. This trade represents a 4.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Richard C. Breeden sold 1,481 shares of the company's stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $209.51, for a total transaction of $310,284.31. Following the sale, the director directly owned 38,964 shares of the company's stock, valued at approximately $8,163,347.64. This represents a 3.66% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 7,328 shares of company stock worth $1,554,051 over the last 90 days. Insiders own 1.12% of the company's stock.

STERIS Price Performance

Shares of NYSE:STE opened at $238.93 on Tuesday. The stock has a market capitalization of $23.29 billion, a P/E ratio of 29.21 and a beta of 0.91. The business has a 50-day moving average of $215.42 and a two-hundred day moving average of $225.04. STERIS plc has a fifty-two week low of $195.14 and a fifty-two week high of $269.44. 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 (NYSE:STE - Get Free Report) last issued 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 return on equity of 14.34% and a net margin of 13.34%.The business had revenue of $1.49 billion for the quarter, compared to analyst estimates of $1.49 billion. During the same quarter in the prior year, the firm posted $2.34 EPS. The firm's revenue for the quarter was up 7.3% on a year-over-year basis. STERIS has set its FY 2027 guidance at 11.000-11.300 EPS. On average, equities research analysts predict that STERIS plc will post 11.17 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 issued a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a yield of 1.2%. 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 is 30.81%.

About STERIS

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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