Cerity Partners LLC Boosts Holdings in STERIS plc $STE

Key Points

• Cerity Partners LLC more than doubled its stake in STERIS, increasing holdings by 116.7% in the fourth quarter to 209,923 shares worth about $53.2 million.
• STERIS reported mixed quarterly results, missing EPS estimates by a penny while revenue matched expectations and rose 6.7% year over year. The company also reaffirmed FY 2027 guidance of 11.10 to 11.30 EPS.
• The company declared a quarterly dividend of $0.63 per share, and analysts currently view the stock as a Moderate Buy with an average target price of $278.00.

Cerity Partners LLC raised its stake in STERIS plc (NYSE:STE - Free Report) by 116.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 209,923 shares of the medical equipment provider's stock after acquiring an additional 113,070 shares during the quarter. Cerity Partners LLC owned approximately 0.21% of STERIS worth $53,220,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Nordea Investment Management AB increased its position in STERIS by 259.0% in the fourth quarter. Nordea Investment Management AB now owns 51,602 shares of the medical equipment provider's stock worth $13,165,000 after buying an additional 37,228 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of STERIS by 9.4% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,039,351 shares of the medical equipment provider's stock valued at $257,157,000 after buying an additional 89,250 shares during the last quarter. Legal & General Group Plc grew its stake in shares of STERIS by 5.3% during the 3rd quarter. Legal & General Group Plc now owns 693,116 shares of the medical equipment provider's stock worth $171,505,000 after acquiring an additional 34,981 shares during the period. Elo Mutual Pension Insurance Co purchased a new stake in STERIS in the 3rd quarter worth about $2,480,000. Finally, Groupama Asset Managment purchased a new stake in STERIS in the 3rd quarter worth about $1,163,000. 94.69% of the stock is owned by institutional investors.

STERIS Price Performance

STE stock opened at $212.42 on Wednesday. The firm has a 50 day moving average of $216.83 and a 200-day moving average of $238.33. The firm has a market capitalization of $20.73 billion, a P/E ratio of 26.79 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 posted its earnings results 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 firm had revenue of $1.59 billion for 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 posted $2.74 EPS. STERIS has set its FY 2027 guidance at 11.100-11.300 EPS. As a group, sell-side analysts predict that STERIS plc will post 11.18 earnings per share for the current fiscal year.

STERIS Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 26th. Investors of record on Monday, June 8th will be given a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 1.2%. The ex-dividend date is Monday, June 8th. STERIS's payout ratio is presently 31.78%.

Analysts Set New Price Targets

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

Insider Transactions at STERIS

In related news, CEO Daniel A. Carestio sold 3,054 shares of the company's 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 directly owned 65,021 shares in the company, valued at approximately $13,956,107.44. This represents a 4.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed 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, Director Richard C. Breeden sold 1,481 shares of the firm's stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $209.51, for a total transaction of $310,284.31. Following the completion of the sale, the director directly owned 38,964 shares in the company, valued at $8,163,347.64. This represents a 3.66% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 5,909 shares of company stock worth $1,257,083 over the last 90 days. Corporate insiders own 1.07% of the company's stock.

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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