Bessemer Group Inc. Grows Stock Position in STERIS plc $STE

Key Points

• Bessemer Group Inc. increased its STERIS stake by 8.8% in the first quarter, adding 85,188 shares to bring its total holdings to 1,048,636 shares worth about $231.9 million.
• Wall Street remains cautiously positive on STERIS, with analysts maintaining a Moderate Buy consensus and an average price target of $278, despite some rating and target cuts.
• STERIS reported Q1 EPS of $2.83, slightly below expectations, while revenue matched estimates at $1.59 billion and rose 6.7% year over year; the company also pays a quarterly dividend of $0.63 per share.

Bessemer Group Inc. raised its position in STERIS plc (NYSE:STE - Free Report) by 8.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,048,636 shares of the medical equipment provider's stock after buying an additional 85,188 shares during the quarter. Bessemer Group Inc. owned about 1.07% of STERIS worth $231,883,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in STE. Nordea Investment Management AB lifted its holdings in STERIS by 259.0% during the fourth quarter. Nordea Investment Management AB now owns 51,602 shares of the medical equipment provider's stock valued at $13,165,000 after purchasing an additional 37,228 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in shares of STERIS by 40.8% in the fourth quarter. Goldman Sachs Group Inc. now owns 633,530 shares of the medical equipment provider's stock worth $160,613,000 after purchasing an additional 183,680 shares in the last quarter. Cerity Partners LLC raised its position in shares of STERIS by 116.7% in the fourth quarter. Cerity Partners LLC now owns 209,923 shares of the medical equipment provider's stock valued at $53,220,000 after purchasing an additional 113,070 shares during the period. Groupama Asset Managment bought a new stake in shares of STERIS in the third quarter valued at approximately $1,163,000. Finally, Carderock Capital Management Inc. lifted its stake in shares of STERIS by 24.7% during the 4th quarter. Carderock Capital Management Inc. now owns 37,085 shares of the medical equipment provider's stock valued at $9,402,000 after buying an additional 7,344 shares in the last quarter. 94.69% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

STE has been the subject of several analyst reports. Piper Sandler reaffirmed an "overweight" rating and issued a $270.00 price objective on shares of STERIS in a report on Thursday, May 21st. Wall Street Zen cut shares of STERIS from a "strong-buy" rating to a "buy" rating in a report on Saturday, June 6th. Weiss Ratings downgraded STERIS from a "hold (c+)" rating to a "hold (c)" rating in a research report on Wednesday, May 27th. Finally, 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. Three investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $278.00.

STERIS Trading Up 4.6%

Shares of STE opened at $221.12 on Friday. STERIS plc has a twelve month low of $195.14 and a twelve month high of $269.44. The stock has a market cap of $21.55 billion, a PE ratio of 27.88 and a beta of 0.92. The company has a quick ratio of 1.54, a current ratio of 2.09 and a debt-to-equity ratio of 0.25. The business's 50-day moving average price is $211.29 and its 200-day moving average price is $229.13.

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

STERIS Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 26th. Stockholders of record on Monday, June 8th were given a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date was Monday, June 8th. STERIS's payout ratio is 31.78%.

Insider Transactions at STERIS

In related news, VP John Adam Zangerle sold 1,419 shares of STERIS stock in a transaction on Monday, June 15th. The stock was sold at an average price of $209.28, for a total transaction of $296,968.32. Following the completion of the sale, the vice president owned 35,259 shares of the company's stock, valued at approximately $7,379,003.52. This trade represents a 3.87% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Daniel A. Carestio sold 3,054 shares of the business's stock in a transaction dated Thursday, June 4th. The stock was 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 approximately $13,956,107.44. The trade was a 4.49% 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. Over the last quarter, insiders have sold 7,328 shares of company stock valued at $1,554,051. 1.12% of the stock is currently owned by company insiders.

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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