Entropy Technologies LP Increases Stake in STERIS plc $STE

Key Points

• Entropy Technologies LP boosted its STERIS stake by 614.5% in the fourth quarter, while other institutions also added to positions; hedge funds and other institutional investors now own 94.69% of the company.
• STERIS insiders have been selling shares, including Director Richard C. Breeden and CEO Daniel A. Carestio, with total insider sales of 5,909 shares worth about $1.26 million over the last three months.
• The company reported $2.83 EPS on $1.59 billion in quarterly revenue, missing earnings estimates slightly, and it also announced a quarterly dividend of $0.63 per share for a 1.2% annualized yield.

Entropy Technologies LP increased its stake in STERIS plc (NYSE:STE - Free Report) by 614.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 13,297 shares of the medical equipment provider's stock after buying an additional 11,436 shares during the period. Entropy Technologies LP's holdings in STERIS were worth $3,371,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in STE. Norges Bank purchased a new position in STERIS in the 4th quarter worth about $320,298,000. AQR Capital Management LLC increased its stake in STERIS by 178.6% in the 3rd quarter. AQR Capital Management LLC now owns 1,183,070 shares of the medical equipment provider's stock worth $291,704,000 after buying an additional 758,423 shares during the period. Boston Partners purchased a new position in STERIS in the 3rd quarter worth about $158,982,000. Orbis Allan Gray Ltd increased its stake in STERIS by 36.0% in the 2nd quarter. Orbis Allan Gray Ltd now owns 2,100,099 shares of the medical equipment provider's stock worth $504,486,000 after buying an additional 556,088 shares during the period. Finally, State Street Corp increased its stake in STERIS by 6.0% in the 4th quarter. State Street Corp now owns 4,614,840 shares of the medical equipment provider's stock worth $1,169,957,000 after buying an additional 260,001 shares during the period. Hedge funds and other institutional investors own 94.69% of the company's stock.

Insider Transactions at STERIS

In other STERIS news, Director Richard C. Breeden sold 1,481 shares of the firm's stock in a transaction dated 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 approximately $8,163,347.64. This trade represents a 3.66% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Daniel A. Carestio sold 3,054 shares of the firm's stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $214.64, for a total transaction of $655,510.56. Following the transaction, the chief executive officer directly owned 65,021 shares in the company, valued at $13,956,107.44. This trade represents a 4.49% 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 a total of 5,909 shares of company stock worth $1,257,083 in the last three months. Insiders own 1.07% of the company's stock.

Analysts Set New Price Targets

Several research firms recently commented on STE. Wall Street Zen downgraded shares of STERIS from a "strong-buy" rating to a "buy" rating in a research note on Saturday, June 6th. Weiss Ratings downgraded shares of STERIS from a "hold (c+)" rating to a "hold (c)" rating in a research note on Wednesday, May 27th. KeyCorp reduced 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. Finally, 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. Three equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $278.00.

STERIS Trading Down 0.0%

NYSE STE opened at $207.50 on Monday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.54 and a current ratio of 2.09. The company has a market capitalization of $20.25 billion, a price-to-earnings ratio of 26.17 and a beta of 0.93. The company's 50-day simple moving average is $216.08 and its two-hundred day simple moving average is $237.20. 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 posted its earnings results on Monday, May 11th. The medical equipment provider reported $2.83 EPS for the quarter, missing analysts' consensus estimates of $2.86 by ($0.03). The business had revenue of $1.59 billion for the quarter, compared to analysts' expectations of $1.59 billion. STERIS had a net margin of 13.18% and a return on equity of 14.15%. The company's revenue for the quarter was up 6.7% on a year-over-year basis. During the same period last year, the business posted $2.74 EPS. STERIS has set its FY 2027 guidance at 11.100-11.300 EPS. Equities analysts forecast that STERIS plc will post 11.18 EPS for the current fiscal year.

STERIS Announces Dividend

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

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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