Geode Capital Management LLC Has $637.26 Million Holdings in STERIS plc $STE

Key Points

• Geode Capital Management increased its STERIS stake slightly in the fourth quarter, owning 2,523,620 shares valued at about $637.3 million. Overall, institutional investors and hedge funds hold 94.69% of the company’s shares.
• STERIS reported quarterly EPS of $2.83, missing analyst expectations by $0.03, while revenue of $1.59 billion matched estimates and rose 6.7% year over year. The company also reaffirmed FY 2027 EPS guidance of 11.10 to 11.30.
• The company declared a quarterly dividend of $0.63 per share, payable June 26, for an annualized yield of about 1.2%. Analysts currently rate the stock a Moderate Buy with a consensus target price of $278.

Geode Capital Management LLC raised its position in shares of STERIS plc (NYSE:STE - Free Report) by 0.6% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 2,523,620 shares of the medical equipment provider's stock after purchasing an additional 14,151 shares during the quarter. Geode Capital Management LLC owned approximately 2.57% of STERIS worth $637,259,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in STERIS by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 12,286,535 shares of the medical equipment provider's stock valued at $3,114,882,000 after purchasing an additional 73,014 shares during the period. State Street Corp increased its position in STERIS by 4.0% during the 3rd quarter. State Street Corp now owns 4,354,839 shares of the medical equipment provider's stock valued at $1,077,564,000 after purchasing an additional 166,736 shares during the period. Orbis Allan Gray Ltd increased its position in STERIS by 36.0% during the 2nd quarter. Orbis Allan Gray Ltd now owns 2,100,099 shares of the medical equipment provider's stock valued at $504,486,000 after purchasing an additional 556,088 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in STERIS by 16.4% during the 3rd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,567,238 shares of the medical equipment provider's stock valued at $387,797,000 after purchasing an additional 221,199 shares during the period. Finally, Invesco Ltd. increased its position in STERIS by 4.9% during the 3rd quarter. Invesco Ltd. now owns 1,280,142 shares of the medical equipment provider's stock valued at $316,758,000 after purchasing an additional 59,443 shares during the period. Institutional investors and hedge funds own 94.69% of the company's stock.

STERIS Stock Performance

Shares of STE stock opened at $212.52 on Friday. The company has a market cap of $20.84 billion, a price-to-earnings ratio of 26.80 and a beta of 0.95. STERIS plc has a 52 week low of $195.14 and a 52 week high of $269.44. The company has a quick ratio of 1.54, a current ratio of 2.09 and a debt-to-equity ratio of 0.25. The firm has a 50 day moving average of $218.24 and a 200-day moving average of $240.93.

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

STERIS Announces Dividend

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

Insider Transactions at STERIS

In related news, Director Cynthia L. Feldmann sold 3,098 shares of STERIS stock in a transaction on Thursday, March 5th. The shares were sold at an average price of $237.21, for a total value of $734,876.58. Following the completion of the sale, the director owned 705 shares of the company's stock, valued at approximately $167,233.05. This trade represents a 81.46% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 1.07% of the company's stock.

Analysts Set New Price Targets

STE has been the subject of a number of recent analyst reports. Piper Sandler reissued an "overweight" rating and set a $270.00 target price on shares of STERIS in a research report on Thursday, May 21st. Wall Street Zen raised shares of STERIS from a "buy" rating to a "strong-buy" rating in a research report on Saturday, May 16th. KeyCorp decreased their target price on shares of STERIS from $291.00 to $269.00 and set an "overweight" rating for the company in a research report on Wednesday, May 13th. Finally, Weiss Ratings downgraded shares of STERIS from a "hold (c+)" rating to a "hold (c)" rating in a research report on Wednesday. Three research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price 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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