Clark Capital Management Group Inc. Invests $53.06 Million in STERIS plc $STE

Key Points

• Clark Capital Management Group opened a new position in STERIS plc, buying 209,276 shares worth about $53.1 million in the fourth quarter and ending with roughly 0.21% ownership.
• STERIS recently reported mixed quarterly results: EPS of $2.83 missed estimates by a penny, while revenue of $1.59 billion matched expectations and rose 6.7% year over year.
• The company also announced a quarterly dividend of $0.63 per share, and analysts currently rate the stock a Moderate Buy with a consensus price target of $278.

Clark Capital Management Group Inc. acquired a new position in shares of STERIS plc (NYSE:STE - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 209,276 shares of the medical equipment provider's stock, valued at approximately $53,056,000. Clark Capital Management Group Inc. owned approximately 0.21% of STERIS at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Board of the Pension Protection Fund acquired a new stake in shares of STERIS during the 4th quarter worth approximately $25,000. Activest Wealth Management grew its holdings in shares of STERIS by 423.8% during the 4th 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 acquired a new stake in STERIS in the 4th quarter valued at $28,000. Harbor Investment Advisory LLC boosted its stake in STERIS by 115.4% in the 4th quarter. Harbor Investment Advisory LLC now owns 112 shares of the medical equipment provider's stock valued at $28,000 after buying an additional 60 shares in the last quarter. Finally, Cornerstone Planning Group LLC boosted its stake in STERIS by 342.3% in the 4th 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 in the last quarter. Institutional investors and hedge funds own 94.69% of the company's stock.

STERIS Price Performance

Shares of STE stock opened at $206.64 on Wednesday. The stock's fifty day simple moving average is $215.59 and its 200 day simple moving average is $236.34. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.09 and a quick ratio of 1.54. The firm has a market cap of $20.14 billion, a price-to-earnings ratio of 26.06 and a beta of 0.93. STERIS plc has a one year low of $195.14 and a one year high of $269.44.

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

STERIS Dividend Announcement

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

Insider Buying and Selling at STERIS

In other STERIS 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 value of $296,968.32. Following the completion of the transaction, the vice president owned 35,259 shares in the company, valued at approximately $7,379,003.52. The trade was a 3.87% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Richard C. Breeden sold 1,481 shares of STERIS stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $209.51, for a total value of $310,284.31. Following the completion of the transaction, the director owned 38,964 shares of the company's stock, valued at approximately $8,163,347.64. The trade was a 3.66% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 7,328 shares of company stock worth $1,554,051. 1.12% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Wall Street Zen lowered STERIS from a "strong-buy" rating to a "buy" rating in a research note on Saturday, June 6th. Piper Sandler reaffirmed an "overweight" rating and issued a $270.00 price target on shares of STERIS in a research note on Thursday, May 21st. Weiss Ratings lowered STERIS from a "hold (c+)" rating to a "hold (c)" rating in a research note on Wednesday, May 27th. Finally, KeyCorp decreased their price target on 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 issued a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $278.00.

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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