Janus Henderson Group PLC Buys 380,504 Shares of STERIS plc $STE

Key Points

• Janus Henderson increased its STERIS stake by 25.7%, buying 380,504 shares to own 1.86 million shares valued at approximately $412 million, or 1.9% of the company. Institutional investors collectively hold 94.69% of STERIS stock.
• Analyst sentiment remains favorable, with four Buy ratings and one Hold rating producing a consensus “Moderate Buy” and an average price target of $277.25, above the reported share price of $231.32.
• STERIS reported quarterly revenue of $1.59 billion, up 6.7% year over year, though adjusted earnings of $2.83 per share slightly missed estimates. The company also raised its quarterly dividend from $0.63 to $0.69 per share, implying a 1.2% yield.

Janus Henderson Group PLC increased its stake in STERIS plc (NYSE:STE - Free Report) by 25.7% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,863,139 shares of the medical equipment provider's stock after buying an additional 380,504 shares during the period. Janus Henderson Group PLC owned 1.90% of STERIS worth $411,995,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Trust Co. of Vermont grew its stake 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 worth $42,000 after acquiring an additional 38 shares during the last quarter. Bailard Inc. increased its holdings in shares of STERIS by 3.5% during the fourth quarter. Bailard Inc. now owns 1,118 shares of the medical equipment provider's stock valued at $283,000 after acquiring an additional 38 shares in the last quarter. Geneos Wealth Management Inc. raised its position in shares of STERIS by 34.9% in the 2nd quarter. Geneos Wealth Management Inc. now owns 174 shares of the medical equipment provider's stock worth $42,000 after purchasing an additional 45 shares during the last quarter. Ascent Group LLC raised its position in shares of STERIS by 4.9% in the 4th quarter. Ascent Group LLC now owns 1,009 shares of the medical equipment provider's stock worth $256,000 after purchasing an additional 47 shares during the last quarter. Finally, Clear Harbor Asset Management LLC raised its position in shares of STERIS by 3.8% in the 4th quarter. Clear Harbor Asset Management LLC now owns 1,350 shares of the medical equipment provider's stock worth $342,000 after purchasing an additional 50 shares during the last quarter. Institutional investors own 94.69% of the company's stock.

Analyst Ratings Changes

Several brokerages recently commented on STE. Weiss Ratings downgraded shares of STERIS from a "hold (c+)" rating to a "hold (c)" rating in a research report on Wednesday, May 27th. UBS Group initiated coverage on shares of STERIS in a report on Tuesday. They issued a "buy" rating and a $275.00 target price for the company. Piper Sandler reiterated an "overweight" rating and issued a $270.00 target price on shares of STERIS in a research note on Thursday, May 21st. Wall Street Zen cut shares of STERIS from a "strong-buy" rating to a "buy" rating in a report on Saturday, June 6th. Finally, KeyCorp reduced their price target 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. Four research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, STERIS currently has a consensus rating of "Moderate Buy" and an average price target of $277.25.

STERIS Trading Down 1.5%

Shares of NYSE:STE opened at $231.32 on Friday. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.09 and a quick ratio of 1.54. STERIS plc has a 1 year low of $195.14 and a 1 year high of $269.44. The company has a market cap of $22.54 billion, a P/E ratio of 29.17 and a beta of 0.92. The stock's fifty day moving average price is $212.75 and its 200-day moving average price is $226.54.

STERIS (NYSE:STE - Get Free Report) last released 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). STERIS had a return on equity of 14.15% and a net margin of 13.18%.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 business posted $2.74 earnings per share. STERIS'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. Sell-side analysts expect that STERIS plc will post 11.18 earnings per share for the current year.

STERIS Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Friday, September 4th will be paid a $0.69 dividend. This is a boost from STERIS's previous quarterly dividend of $0.63. This represents a $2.76 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date is Friday, September 4th. STERIS's dividend payout ratio (DPR) is presently 31.78%.

Insider Transactions at STERIS

In other news, Director Richard C. Breeden sold 1,481 shares of the business's stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $209.51, for a total transaction of $310,284.31. Following the completion of the transaction, the director directly owned 38,964 shares of the company's stock, valued at $8,163,347.64. The trade was a 3.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP John Adam Zangerle sold 1,419 shares of the stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $209.28, for a total transaction of $296,968.32. Following the transaction, the vice president owned 35,259 shares in the company, valued at approximately $7,379,003.52. This trade represents a 3.87% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 7,328 shares of company stock worth $1,554,051 over the last three months. 1.12% of the stock is currently owned by company insiders.

STERIS 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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