Engineers Gate Manager LP Purchases Shares of 9,499 STERIS plc $STE

Key Points

• Engineers Gate Manager LP initiated a position in STERIS, purchasing 9,499 shares valued at approximately $2 million. Institutional investors and hedge funds collectively own 94.69% of the company.
• Analyst sentiment remains positive, with three Buy ratings and one Hold rating, producing a “Moderate Buy” consensus and an average price target of $271.33.
• STERIS exceeded quarterly earnings expectations, reporting $2.59 in EPS and $1.49 billion in revenue, while revenue increased 7.3% year over year. The company also raised its quarterly dividend from $0.63 to $0.69 per share.

Engineers Gate Manager LP purchased a new stake in STERIS plc (NYSE:STE - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 9,499 shares of the medical equipment provider's stock, valued at approximately $2,000,000.

A number of other institutional investors and hedge funds have also modified their holdings of STE. 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 during the period. Kornitzer Capital Management Inc. KS acquired a new stake in shares of STERIS in the first quarter worth $5,506,000. Cerity Partners LLC grew its stake 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 worth $53,220,000 after acquiring an additional 113,070 shares during the last quarter. Strs Ohio increased its position in STERIS by 9.5% during the first quarter. Strs Ohio now owns 71,748 shares of the medical equipment provider's stock worth $15,866,000 after acquiring an additional 6,196 shares during the period. Finally, Eventide Asset Management LLC increased its position in STERIS by 8.8% during the fourth quarter. Eventide Asset Management LLC now owns 190,483 shares of the medical equipment provider's stock worth $48,326,000 after acquiring an additional 15,416 shares during the period. 94.69% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

STE has been the subject of a number of research reports. Weiss Ratings reissued a "hold (c)" rating on shares of STERIS in a report on Monday, August 24th. Piper Sandler restated an "overweight" rating and set a $275.00 price target (up from $270.00) on shares of STERIS in a research note on Friday, August 7th. UBS Group reduced their price objective on STERIS from $275.00 to $270.00 and set a "buy" rating for the company in a research report on Friday, August 7th. Finally, Wall Street Zen raised shares of STERIS from a "hold" rating to a "buy" rating in a research note on Sunday, August 9th. Three investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $271.33.

Insiders Place Their Bets

In other news, Director Mohsen Sohi sold 4,058 shares of the firm's stock in a transaction on Wednesday, August 12th. The stock was sold at an average price of $235.78, for a total value of $956,795.24. Following the transaction, the director directly owned 24,305 shares in the company, valued at $5,730,632.90. This trade represents a 14.31% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.12% of the stock is owned by corporate insiders.

STERIS Stock Performance

Shares of NYSE:STE opened at $210.41 on Wednesday. The business has a fifty day moving average of $225.46 and a 200-day moving average of $220.44. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.35 and a current ratio of 1.91. STERIS plc has a twelve month low of $195.14 and a twelve month high of $269.44. The firm has a market cap of $20.51 billion, a PE ratio of 25.72 and a beta of 0.91.

STERIS (NYSE:STE - Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The medical equipment provider reported $2.59 EPS for the quarter, topping analysts' consensus estimates of $2.49 by $0.10. The firm had revenue of $1.49 billion for the quarter, compared to analyst estimates of $1.49 billion. STERIS had a net margin of 13.34% and a return on equity of 14.34%. The company's revenue was up 7.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.34 EPS. STERIS has set its FY 2027 guidance at 11.000-11.300 EPS. On average, equities research analysts predict that STERIS plc will post 11.09 EPS for the current fiscal year.

STERIS Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Friday, September 4th will be issued a $0.69 dividend. This is an increase from STERIS's previous quarterly dividend of $0.63. This represents a $2.76 annualized dividend and a yield of 1.3%. The ex-dividend date is Friday, September 4th. STERIS's dividend payout ratio (DPR) is currently 33.74%.

STERIS Company Profile

STERIS plc NYSE: STE is a global provider of products and services designed to support infection prevention, sterilization, surgical procedures and other critical healthcare and life sciences activities. The company serves hospitals, ambulatory surgery centers, dental practices, pharmaceutical and biotechnology manufacturers, medical device companies, and research organizations.

Its offerings include sterilizers, washers, surgical tables and lights, operating-room equipment, endoscopy products, infection-prevention consumables, and related maintenance and technical services.

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