Assenagon Asset Management S.A. Increases Stake in STERIS plc $STE

Key Points

• Assenagon Asset Management boosted its stake in STERIS by 160.6% in the first quarter, bringing its holdings to 48,846 shares worth about $10.8 million.
• STERIS shares were up 2.4% to $215.59, while the company’s market cap stood at $21.01 billion and institutional investors owned 94.69% of the stock.
• The company recently reported mixed earnings: EPS of $2.83 missed estimates by $0.03, but revenue of $1.59 billion matched expectations and rose 6.7% year over year. STERIS also paid a quarterly dividend of $0.63, yielding about 1.2% annually.

Assenagon Asset Management S.A. raised its position in shares of STERIS plc (NYSE:STE - Free Report) by 160.6% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 48,846 shares of the medical equipment provider's stock after buying an additional 30,104 shares during the period. Assenagon Asset Management S.A.'s holdings in STERIS were worth $10,801,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Norges Bank purchased a new position in STERIS during the 4th quarter valued at $320,298,000. AQR Capital Management LLC raised its stake in STERIS by 178.6% in the third quarter. AQR Capital Management LLC now owns 1,183,070 shares of the medical equipment provider's stock worth $291,704,000 after buying an additional 758,423 shares in the last quarter. Boston Partners purchased a new stake in STERIS in the third quarter worth about $158,982,000. Orbis Allan Gray Ltd boosted its position in STERIS by 36.0% during the 2nd quarter. Orbis Allan Gray Ltd now owns 2,100,099 shares of the medical equipment provider's stock valued at $504,486,000 after acquiring an additional 556,088 shares in the last quarter. Finally, State Street Corp boosted its position in STERIS by 6.0% during the 4th quarter. State Street Corp now owns 4,614,840 shares of the medical equipment provider's stock valued at $1,169,957,000 after acquiring an additional 260,001 shares in the last quarter. Institutional investors own 94.69% of the company's stock.

STERIS Trading Up 2.4%

Shares of NYSE:STE opened at $215.59 on Friday. The stock has a 50 day moving average of $212.77 and a 200 day moving average of $233.29. The company has a market cap of $21.01 billion, a PE ratio of 27.19 and a beta of 0.93. STERIS plc has a 12-month low of $195.14 and a 12-month high of $269.44. The company has a current ratio of 2.09, a quick ratio of 1.54 and a debt-to-equity ratio of 0.25.

STERIS (NYSE:STE - Get Free Report) last released its quarterly earnings data on Monday, May 11th. The medical equipment provider reported $2.83 earnings per share for the quarter, missing analysts' consensus estimates of $2.86 by ($0.03). The business had revenue of $1.59 billion during the quarter, compared to the consensus estimate of $1.59 billion. STERIS had a return on equity of 14.15% and a net margin of 13.18%.The business's revenue was up 6.7% on a year-over-year basis. During the same period last year, the company earned $2.74 EPS. STERIS has set its FY 2027 guidance at 11.100-11.300 EPS. As a group, equities research analysts expect that STERIS plc will post 11.18 EPS for the current year.

STERIS Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 26th. Investors of record on Monday, June 8th were given a $0.63 dividend. The ex-dividend date was Monday, June 8th. This represents a $2.52 dividend on an annualized basis and a yield of 1.2%. STERIS's dividend payout ratio (DPR) is currently 31.78%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Piper Sandler reissued an "overweight" rating and set a $270.00 price target on shares of STERIS in a research report on Thursday, May 21st. KeyCorp cut their price objective on shares of STERIS from $291.00 to $269.00 and set an "overweight" rating on the stock in a report on Wednesday, May 13th. Weiss Ratings lowered shares of STERIS from a "hold (c+)" rating to a "hold (c)" rating in a report on Wednesday, May 27th. Finally, Wall Street Zen cut STERIS from a "strong-buy" rating to a "buy" rating in a research report on Saturday, June 6th. Three investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, STERIS currently has a consensus rating of "Moderate Buy" and an average target price of $278.00.

Insiders Place Their Bets

In related news, VP John Adam Zangerle sold 1,419 shares of the firm's stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $209.28, for a total value of $296,968.32. Following the transaction, the vice president owned 35,259 shares of the company's stock, valued at $7,379,003.52. This trade represents a 3.87% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Richard C. Breeden sold 1,481 shares of the firm's stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $209.51, for a total value of $310,284.31. Following the transaction, the director owned 38,964 shares in the company, valued at $8,163,347.64. The trade was a 3.66% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 7,328 shares of company stock valued at $1,554,051 over the last three months. 1.12% of the stock is owned by company insiders.

STERIS 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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