Cetera Investment Advisers Sells 17,585 Shares of STERIS plc $STE

Key Points

• Cetera Investment Advisers reduced its STERIS position by 54.3%, selling 17,585 shares and retaining 14,786 shares valued at approximately $3.27 million. Institutional investors and hedge funds collectively own 94.69% of the company.
• STERIS reported quarterly EPS of $2.59, beating estimates, while revenue rose 7.3% year over year to $1.50 billion. The company also increased its quarterly dividend from $0.63 to $0.69 per share.
• Analysts maintain a generally positive view, with a “Moderate Buy” consensus and an average price target of $277.25 versus the reported share price of $233.15. STERIS reiterated fiscal 2027 EPS guidance of $11.00–$11.30 while planning a $600 million North Carolina manufacturing facility.

Cetera Investment Advisers cut its holdings in shares of STERIS plc (NYSE:STE - Free Report) by 54.3% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,786 shares of the medical equipment provider's stock after selling 17,585 shares during the period. Cetera Investment Advisers' holdings in STERIS were worth $3,270,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of STE. Activest Wealth Management boosted its stake in STERIS by 423.8% in the fourth quarter. Activest Wealth Management now owns 110 shares of the medical equipment provider's stock worth $28,000 after purchasing an additional 89 shares in the last quarter. Measured Wealth Private Client Group LLC bought a new position in shares of STERIS in the fourth quarter valued at about $28,000. Cornerstone Planning Group LLC raised its holdings in shares of STERIS by 342.3% in the fourth quarter. Cornerstone Planning Group LLC now owns 115 shares of the medical equipment provider's stock valued at $30,000 after buying an additional 89 shares during the last quarter. Geneos Wealth Management Inc. lifted its position in STERIS by 416.0% during the 1st quarter. Geneos Wealth Management Inc. now owns 129 shares of the medical equipment provider's stock worth $29,000 after buying an additional 104 shares in the last quarter. Finally, Kemnay Advisory Services Inc. bought a new stake in STERIS during the 4th quarter worth about $34,000. 94.69% of the stock is owned by institutional investors and hedge funds.

STERIS Trading Up 0.1%

STE opened at $233.15 on Thursday. The firm has a 50 day simple moving average of $214.04 and a 200 day simple moving average of $225.66. STERIS plc has a fifty-two week low of $195.14 and a fifty-two week high of $269.44. The company has a market cap of $22.72 billion, a price-to-earnings ratio of 29.40 and a beta of 0.91. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.09 and a quick ratio of 1.54.

STERIS (NYSE:STE - Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The medical equipment provider reported $2.59 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.49 by $0.10. The firm had revenue of $1.50 billion for the quarter, compared to analysts' expectations of $1.49 billion. STERIS had a net margin of 13.18% and a return on equity of 14.15%. The business's revenue for the quarter was up 7.3% on a year-over-year basis. During the same period last year, the firm earned $2.34 earnings per share. STERIS has set its FY 2027 guidance at 11.000-11.300 EPS. On average, sell-side analysts anticipate that STERIS plc will post 11.17 earnings per share for the current year.

STERIS Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Friday, September 4th will be given a $0.69 dividend. The ex-dividend date is Friday, September 4th. This represents a $2.76 dividend on an annualized basis and a dividend yield of 1.2%. This is a positive change from STERIS's previous quarterly dividend of $0.63. STERIS's dividend payout ratio is 31.78%.

Insider Activity at STERIS

In related news, Director Richard C. Breeden sold 1,481 shares of STERIS 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 transaction, the director owned 38,964 shares of the company's stock, valued at $8,163,347.64. This trade represents a 3.66% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Daniel A. Carestio sold 1,374 shares of the business's stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $212.00, for a total transaction of $291,288.00. Following the transaction, the chief executive officer owned 63,647 shares of the company's stock, valued at approximately $13,493,164. This represents a 2.11% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 7,328 shares of company stock worth $1,554,051 in the last ninety days. Company insiders own 1.12% of the company's stock.

STERIS News Summary

Here are the key news stories impacting STERIS this week:

• Positive Sentiment: Earnings exceeded expectations: STERIS reported adjusted earnings of $2.59 per share, above the $2.49–$2.54 analyst consensus and up from $2.34 a year earlier. Revenue rose 7.3% year over year to approximately $1.5 billion. Steris Q1 Earnings Surpass Estimates
• Positive Sentiment: Broad-based operating growth: Healthcare revenue increased 8% to $1.05 billion, Applied Sterilization Technologies revenue rose 6% to $297.6 million, and Life Sciences revenue grew 9% to $146.7 million. Constant-currency organic revenue growth was 6%.
• Positive Sentiment: Growth investment supports longer-term prospects: STERIS plans to invest $600 million in a North Carolina formulated-chemistries manufacturing and distribution center to support sterilization and disinfection demand from healthcare and pharmaceutical customers. Steris to Invest in North Carolina Manufacturing Hub
• Neutral Sentiment: Fiscal 2027 outlook was maintained: The company reiterated revenue growth guidance of 7% to 8% and adjusted EPS guidance of $11.10 to $11.30, broadly in line with analyst expectations. Capital expenditures are expected to increase to approximately $450 million, while free-cash-flow guidance is about $800 million.
• Negative Sentiment: Near-term costs and cash-flow pressures: The North Carolina project and related restructuring are expected to generate approximately $55 million to $70 million in pretax charges over time. Operating cash flow declined to $367.1 million from $420.0 million in the prior-year quarter, while higher capital spending could weigh on near-term free cash flow.
• Negative Sentiment: Insider selling may temper sentiment: Company insiders reported five open-market sales and no purchases over the past six months, although these transactions are not necessarily tied to the quarterly results.

Analysts Set New Price Targets

A number of brokerages have weighed in on STE. KeyCorp dropped their target price 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. UBS Group began coverage on shares of STERIS in a research report on Tuesday, July 28th. They issued a "buy" rating and a $275.00 price objective for the company. Weiss Ratings downgraded STERIS from a "hold (c+)" rating to a "hold (c)" rating in a report on Wednesday, May 27th. Piper Sandler reissued an "overweight" rating and issued a $270.00 target price on shares of STERIS in a research note on Thursday, May 21st. Finally, Wall Street Zen downgraded STERIS from a "buy" rating to a "hold" rating in a research report on Saturday, August 1st. Four investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, STERIS has an average rating of "Moderate Buy" and an average price target of $277.25.

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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This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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