California State Teachers Retirement System Increases Position in STERIS plc $STE

California State Teachers Retirement System increased its stake in STERIS plc (NYSE:STE - Free Report) by 20,515.0% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 35,267,316 shares of the medical equipment provider's stock after buying an additional 35,096,240 shares during the period. California State Teachers Retirement System owned 36.17% of STERIS worth $7,426,239,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of STE. HB Wealth Management LLC grew its holdings in shares of STERIS by 25.5% in the second quarter. HB Wealth Management LLC now owns 3,173 shares of the medical equipment provider's stock worth $668,000 after acquiring an additional 644 shares during the period. Saudi Central Bank increased its holdings in STERIS by 89.5% in the 2nd quarter. Saudi Central Bank now owns 6,865 shares of the medical equipment provider's stock worth $1,446,000 after acquiring an additional 3,242 shares in the last quarter. AlphaGrep UK Ltd bought a new stake in shares of STERIS during the 2nd quarter valued at $279,000. Syon Capital LLC raised its holdings in STERIS by 105.0% during the second quarter. Syon Capital LLC now owns 3,506 shares of the medical equipment provider's stock valued at $738,000 after acquiring an additional 1,796 shares during the period. Finally, Concurrent Investment Advisors LLC increased its stake in STERIS by 12.7% in the 2nd quarter. Concurrent Investment Advisors LLC now owns 13,502 shares of the medical equipment provider's stock worth $2,843,000 after acquiring an additional 1,519 shares during the last quarter. 94.69% of the stock is currently owned by institutional investors.

Insider Activity 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 stock was sold at an average price of $235.78, for a total transaction of $956,795.24. Following the sale, the director owned 24,305 shares in the company, 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 legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP John Zangerle sold 1,419 shares of the stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $209.28, for a total transaction of $296,968.32. Following the completion of the transaction, the vice president directly owned 35,259 shares of the company's stock, valued at $7,379,003.52. The trade was a 3.87% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.12% of the stock is owned by company insiders.

STERIS Price Performance

STE opened at $218.70 on Wednesday. The firm has a market capitalization of $21.32 billion, a PE ratio of 26.74 and a beta of 0.91. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.91 and a quick ratio of 1.35. The business's 50-day moving average is $225.74 and its two-hundred day moving average is $221.74. STERIS plc has a 1 year low of $195.14 and a 1 year high of $269.44.

STERIS (NYSE:STE - Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The medical equipment provider reported $2.59 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 business had revenue of $1.49 billion during the quarter, compared to analyst estimates of $1.49 billion. During the same period in the prior year, the firm posted $2.34 earnings per share. The company's quarterly revenue was up 7.3% on a year-over-year basis. STERIS has set its FY 2027 guidance at 11.000-11.300 EPS. Research analysts anticipate that STERIS plc will post 11.09 earnings per share for the current fiscal year.

STERIS Increases Dividend

The company also recently announced 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 1.3%. This is a positive change from STERIS's previous quarterly dividend of $0.63. The ex-dividend date is Friday, September 4th. STERIS's payout ratio is 33.74%.

Analyst Ratings Changes

STE has been the topic of several recent analyst reports. Wall Street Zen raised shares of STERIS from a "hold" rating to a "buy" rating in a research note on Sunday, August 9th. Weiss Ratings reissued a "hold (c)" rating on shares of STERIS in a research report on Monday, August 24th. UBS Group cut their price target on STERIS from $275.00 to $270.00 and set a "buy" rating on the stock in a research note on Friday, August 7th. Piper Sandler restated an "overweight" rating and issued a $275.00 price objective (up from $270.00) on shares of STERIS in a report on Friday, August 7th. Finally, KeyCorp lowered their price objective on shares of STERIS from $291.00 to $269.00 and set an "overweight" rating for the company in a research note on Wednesday, May 13th. Three research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $271.33.

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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