Franklin Resources Inc. Buys 7,840 Shares of STERIS plc $STE

Key Points

• Franklin Resources increased its STERIS stake by 0.6% in the fourth quarter, buying 7,840 more shares and bringing its total holding to 1,252,844 shares worth about $317.6 million.
• STERIS reported mixed earnings for its latest quarter, with EPS of $2.83 missing estimates by $0.03 while revenue of $1.59 billion matched expectations and rose 6.7% year over year.
• The company declared a quarterly dividend of $0.63 per share, and analysts currently rate the stock a “Moderate Buy” with an average price target of $278.00.

Franklin Resources Inc. raised its stake in shares of STERIS plc (NYSE:STE - Free Report) by 0.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,252,844 shares of the medical equipment provider's stock after buying an additional 7,840 shares during the period. Franklin Resources Inc. owned 1.28% of STERIS worth $317,621,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Trust Co. of Vermont grew its position in shares of STERIS by 30.2% in the fourth quarter. Trust Co. of Vermont now owns 164 shares of the medical equipment provider's stock valued at $42,000 after purchasing an additional 38 shares during the last quarter. Bailard Inc. grew its position in shares of STERIS by 3.5% in the fourth quarter. Bailard Inc. now owns 1,118 shares of the medical equipment provider's stock valued at $283,000 after purchasing an additional 38 shares during the last quarter. Magnolia Capital Advisors LLC grew its position in shares of STERIS by 1.2% in the third quarter. Magnolia Capital Advisors LLC now owns 3,588 shares of the medical equipment provider's stock valued at $888,000 after purchasing an additional 41 shares during the last quarter. Colonial Trust Co SC grew its position in shares of STERIS by 0.3% in the third quarter. Colonial Trust Co SC now owns 12,329 shares of the medical equipment provider's stock valued at $3,051,000 after purchasing an additional 42 shares during the last quarter. Finally, Geneos Wealth Management Inc. grew its position in shares of STERIS by 34.9% in the second quarter. Geneos Wealth Management Inc. now owns 174 shares of the medical equipment provider's stock valued at $42,000 after purchasing an additional 45 shares during the last quarter. 94.69% of the stock is owned by institutional investors and hedge funds.

STERIS Stock Down 1.0%

STE stock opened at $210.19 on Tuesday. STERIS plc has a twelve month low of $195.14 and a twelve month high of $269.44. The company has a market cap of $20.52 billion, a PE ratio of 26.51 and a beta of 0.93. The business's 50-day simple moving average is $216.98 and its 200 day simple moving average is $238.63. The company has a quick ratio of 1.54, a current ratio of 2.09 and a debt-to-equity ratio of 0.25.

STERIS (NYSE:STE - Get Free Report) last released 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). STERIS had a return on equity of 14.15% and a net margin of 13.18%.The firm had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.59 billion. During the same period last year, the business earned $2.74 earnings per share. The firm's quarterly revenue 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, research analysts anticipate that STERIS plc will post 11.18 earnings per share for the current year.

STERIS Announces Dividend

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

Analyst Upgrades and Downgrades

STE has been the topic of several research analyst reports. Wall Street Zen downgraded STERIS from a "strong-buy" rating to a "buy" rating in a research report on Saturday. Weiss Ratings downgraded STERIS from a "hold (c+)" rating to a "hold (c)" rating in a research report on Wednesday, May 27th. KeyCorp lowered their price target on STERIS from $291.00 to $269.00 and set an "overweight" rating on the stock in a research report 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 report on Thursday, May 21st. Three equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, STERIS currently has a consensus rating of "Moderate Buy" and an average target price of $278.00.

Insider Buying and Selling

In other STERIS news, CEO Daniel A. Carestio sold 1,374 shares of STERIS stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $212.00, for a total transaction of $291,288.00. Following the sale, the chief executive officer directly owned 63,647 shares of the company's stock, valued at approximately $13,493,164. The trade was a 2.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 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 that occurred 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 sale, the director directly owned 38,964 shares in the company, valued at $8,163,347.64. The trade was a 3.66% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 5,909 shares of company stock worth $1,257,083 over the last ninety days. Company insiders own 1.07% of the company's stock.

About STERIS

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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