Life Cycle Investment Partners Ltd Takes Position in STERIS plc $STE

Key Points

• Life Cycle Investment Partners disclosed a new fourth-quarter stake in STERIS, buying 155,761 shares valued at about $39.5 million and representing roughly 0.16% of the company.
• STERIS saw mixed analyst action: KeyCorp lowered its price target to $269, Piper Sandler reiterated an overweight rating with a $270 target, and the stock currently carries a Moderate Buy consensus with a $274.25 target.
• The company reported quarterly EPS of $2.83, slightly below expectations, while revenue rose 6.7% year over year to $1.59 billion; STERIS also announced a quarterly dividend of $0.63 per share.

Life Cycle Investment Partners Ltd purchased a new stake in shares of STERIS plc (NYSE:STE - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 155,761 shares of the medical equipment provider's stock, valued at approximately $39,489,000. Life Cycle Investment Partners Ltd owned about 0.16% of STERIS at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Board of the Pension Protection Fund bought a new position in shares of STERIS in the fourth quarter worth $25,000. Harbor Investment Advisory LLC grew its position in STERIS by 115.4% in the fourth quarter. Harbor Investment Advisory LLC now owns 112 shares of the medical equipment provider's stock valued at $28,000 after acquiring an additional 60 shares during the last quarter. Activest Wealth Management boosted its stake in shares of STERIS by 423.8% during the fourth quarter. Activest Wealth Management now owns 110 shares of the medical equipment provider's stock valued at $28,000 after purchasing an additional 89 shares in the last quarter. Cloud Capital Management LLC acquired a new stake in shares of STERIS during the third quarter valued at about $29,000. Finally, Geneos Wealth Management Inc. lifted its stake in shares of STERIS by 416.0% in the first quarter. Geneos Wealth Management Inc. now owns 129 shares of the medical equipment provider's stock worth $29,000 after acquiring an additional 104 shares during the period. Institutional investors and hedge funds own 94.69% of the company's stock.

Insider Transactions at STERIS

In related news, Director Cynthia L. Feldmann sold 3,098 shares of the stock in a transaction dated Thursday, March 5th. The stock was sold at an average price of $237.21, for a total transaction of $734,876.58. Following the sale, the director owned 705 shares of the company's stock, valued at approximately $167,233.05. This represents a 81.46% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 1.07% of the company's stock.

Wall Street Analyst Weigh In

STE has been the topic of a number of recent analyst reports. KeyCorp cut their price objective on STERIS from $291.00 to $269.00 and set an "overweight" rating on the stock in a research note on Wednesday, May 13th. Weiss Ratings downgraded STERIS from a "buy (b-)" rating to a "hold (c+)" rating in a report on Thursday, April 16th. Wall Street Zen upgraded STERIS from a "buy" rating to a "strong-buy" rating in a report on Saturday, May 16th. Finally, Piper Sandler restated an "overweight" rating and issued a $270.00 price objective on shares of STERIS in a research note on Thursday. Three investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $274.25.

STERIS Stock Down 1.4%

STE stock opened at $216.69 on Friday. 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 $21.25 billion, a price-to-earnings ratio of 27.32 and a beta of 0.95. STERIS plc has a fifty-two week low of $195.14 and a fifty-two week high of $269.44. The stock has a fifty day moving average of $218.41 and a 200-day moving average of $242.13.

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

STERIS Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 26th. Investors of record on Monday, June 8th will be issued 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 is 31.78%.

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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