National Pension Service Cuts Stock Holdings in STERIS plc $STE

Key Points

• National Pension Service cut its STERIS stake by 83.8% in the second quarter, selling 156,097 shares and retaining 30,216 shares worth approximately $6.36 million. Institutional investors collectively own 94.69% of the company.
• STERIS reported quarterly adjusted EPS of $2.59, exceeding estimates by $0.10, while revenue rose 7.3% year over year to $1.49 billion. The company issued fiscal 2027 EPS guidance of $11.00–$11.30.
• Analysts maintain a generally positive view, with a consensus rating of “Moderate Buy” and an average price target of $271.33. STERIS also raised its quarterly dividend to $0.69 per share, implying a 1.3% annual yield.

National Pension Service lowered its position in shares of STERIS plc (NYSE:STE - Free Report) by 83.8% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 30,216 shares of the medical equipment provider's stock after selling 156,097 shares during the quarter. National Pension Service's holdings in STERIS were worth $6,363,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in STE. Goldman Sachs Group Inc. boosted its stake in STERIS by 40.8% during the 4th quarter. Goldman Sachs Group Inc. now owns 633,530 shares of the medical equipment provider's stock worth $160,613,000 after purchasing an additional 183,680 shares during the last quarter. Kornitzer Capital Management Inc. KS acquired a new stake in STERIS in the 1st quarter valued at about $5,506,000. Cerity Partners LLC raised its holdings in STERIS by 116.7% in the 4th quarter. Cerity Partners LLC now owns 209,923 shares of the medical equipment provider's stock valued at $53,220,000 after acquiring an additional 113,070 shares during the last quarter. Strs Ohio lifted its stake in STERIS by 9.5% in the 1st quarter. Strs Ohio now owns 71,748 shares of the medical equipment provider's stock worth $15,866,000 after purchasing an additional 6,196 shares in the last quarter. Finally, Eventide Asset Management LLC lifted its stake in STERIS by 8.8% in the 4th quarter. Eventide Asset Management LLC now owns 190,483 shares of the medical equipment provider's stock worth $48,326,000 after purchasing an additional 15,416 shares in the last quarter. Hedge funds and other institutional investors own 94.69% of the company's stock.

Insiders Place Their Bets

In related news, VP John Zangerle sold 1,419 shares of the firm's stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $209.28, for a total transaction of $296,968.32. Following the completion of the sale, the vice president directly owned 35,259 shares of the company's stock, valued at approximately $7,379,003.52. This trade represents a 3.87% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Mohsen Sohi sold 4,058 shares of the business's stock in a transaction dated Wednesday, August 12th. The shares were sold at an average price of $235.78, for a total transaction of $956,795.24. Following the completion of the sale, the director owned 24,305 shares in the company, valued at approximately $5,730,632.90. This trade represents a 14.31% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 1.12% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

STE has been the subject of a number of analyst reports. Wall Street Zen upgraded STERIS from a "hold" rating to a "buy" rating in a research report on Sunday, August 9th. UBS Group reduced their price objective on STERIS from $275.00 to $270.00 and set a "buy" rating on the stock in a research report on Friday, August 7th. Weiss Ratings reissued a "hold (c)" rating on shares of STERIS in a research note on Monday, August 24th. Finally, Piper Sandler restated an "overweight" rating and issued a $275.00 target price (up from $270.00) on shares of STERIS in a report on Friday, August 7th. Three analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $271.33.

STERIS Stock Performance

STERIS stock opened at $211.10 on Friday. The firm has a 50 day simple moving average of $225.55 and a 200-day simple moving average of $221.14. The stock has a market cap of $20.58 billion, a price-to-earnings ratio of 25.81 and a beta of 0.91. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.91 and a quick ratio of 1.35. STERIS plc has a 1-year low of $195.14 and a 1-year high of $269.44.

STERIS (NYSE:STE - Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The medical equipment provider reported $2.59 EPS for the quarter, beating the consensus estimate of $2.49 by $0.10. STERIS had a net margin of 13.34% and a return on equity of 14.34%. The firm had revenue of $1.49 billion for the quarter, compared to analyst estimates of $1.49 billion. During the same quarter in the previous year, the company earned $2.34 EPS. The business's revenue for the quarter was up 7.3% compared to the same quarter last year. STERIS has set its FY 2027 guidance at 11.000-11.300 EPS. On average, analysts expect that STERIS plc will post 11.09 EPS for the current year.

STERIS Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Friday, September 4th will be given a $0.69 dividend. This is an increase from STERIS's previous quarterly dividend of $0.63. This represents a $2.76 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date is Friday, September 4th. STERIS's dividend payout ratio (DPR) is presently 33.74%.

STERIS Profile

STERIS plc NYSE: STE is a global provider of products and services designed to support infection prevention, sterilization, surgical procedures and other critical healthcare and life sciences activities. The company serves hospitals, ambulatory surgery centers, dental practices, pharmaceutical and biotechnology manufacturers, medical device companies, and research organizations.

Its offerings include sterilizers, washers, surgical tables and lights, operating-room equipment, endoscopy products, infection-prevention consumables, and related maintenance and technical services.

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