M.D. Sass LLC Invests $52.21 Million in STERIS plc $STE

Key Points

• M.D. Sass LLC bought a new stake in STERIS during the fourth quarter, purchasing 205,936 shares worth about $52.21 million. The position makes STERIS 4.1% of the firm’s holdings and its 14th-largest holding.
• STERIS recently reported quarterly EPS of $2.83, missing estimates by $0.03, while revenue came in at $1.59 billion and rose 6.7% year over year. The company also issued FY 2027 guidance of 11.10 to 11.30 EPS.
• The company declared a quarterly dividend of $0.63 per share, payable June 26, implying an annualized yield of about 1.2%. Meanwhile, analysts remain generally positive, with a Moderate Buy consensus and an average price target of $278.

M.D. Sass LLC purchased a new position in shares of STERIS plc (NYSE:STE - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 205,936 shares of the medical equipment provider's stock, valued at approximately $52,209,000. STERIS comprises about 4.1% of M.D. Sass LLC's holdings, making the stock its 14th largest holding. M.D. Sass LLC owned approximately 0.21% of STERIS as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in STE. Jones Financial Companies Lllp increased its holdings in shares of STERIS by 46.1% during the 1st quarter. Jones Financial Companies Lllp now owns 1,106 shares of the medical equipment provider's stock worth $251,000 after buying an additional 349 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of STERIS by 32.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 242,732 shares of the medical equipment provider's stock worth $55,015,000 after buying an additional 59,264 shares during the last quarter. Empowered Funds LLC increased its holdings in shares of STERIS by 16.1% during the 1st quarter. Empowered Funds LLC now owns 2,303 shares of the medical equipment provider's stock worth $522,000 after buying an additional 319 shares during the last quarter. Woodline Partners LP increased its holdings in shares of STERIS by 40.0% during the 1st quarter. Woodline Partners LP now owns 8,300 shares of the medical equipment provider's stock worth $1,881,000 after buying an additional 2,372 shares during the last quarter. Finally, Jane Street Group LLC increased its holdings in shares of STERIS by 38.9% during the 1st quarter. Jane Street Group LLC now owns 20,716 shares of the medical equipment provider's stock worth $4,695,000 after buying an additional 5,803 shares during the last quarter. Institutional investors and hedge funds own 94.69% of the company's stock.

STERIS Stock Performance

NYSE:STE opened at $209.85 on Wednesday. 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 stock has a market capitalization of $20.58 billion, a P/E ratio of 26.46 and a beta of 0.93. The company has a 50 day moving average price of $218.10 and a 200 day moving average price of $240.37. STERIS plc has a fifty-two week low of $195.14 and a fifty-two week high of $269.44.

STERIS (NYSE:STE - Get Free Report) last posted its quarterly earnings data 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). 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 in the previous year, the business posted $2.74 EPS. STERIS has set its FY 2027 guidance at 11.100-11.300 EPS. Equities research analysts forecast that STERIS plc will post 11.18 EPS 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 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 dividend yield of 1.2%. STERIS's dividend payout ratio (DPR) is presently 31.78%.

Insider Buying and Selling at STERIS

In related news, Director Cynthia L. Feldmann sold 3,098 shares of the stock in a transaction that occurred on Thursday, March 5th. The shares were sold at an average price of $237.21, for a total transaction of $734,876.58. Following the completion of the transaction, 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 is accessible through this hyperlink. Insiders own 1.07% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Weiss Ratings downgraded shares of STERIS from a "hold (c+)" rating to a "hold (c)" rating in a report on Wednesday, May 27th. Wall Street Zen upgraded shares of STERIS from a "buy" rating to a "strong-buy" rating in a report on Saturday, May 16th. Piper Sandler reaffirmed an "overweight" rating and set a $270.00 price objective on shares of STERIS in a research report on Thursday, May 21st. Finally, KeyCorp lowered their price objective 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. Three research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat, STERIS has an average rating of "Moderate Buy" and an average price target 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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