Pictet Asset Management Holding SA Boosts Position in STERIS plc $STE

Key Points

• Pictet Asset Management Holding SA increased its stake in STERIS by 9.2% in the first quarter, adding 69,670 shares to bring its total holdings to 823,649 shares, worth about $182.1 million.
• Several other institutional investors also adjusted positions, and institutions now own 94.69% of STERIS, while company insiders hold 1.12% of the stock.
• STERIS reported Q1 earnings of $2.83 per share, slightly missing expectations, but revenue matched estimates and rose 6.7% year over year; the company also paid a quarterly dividend of $0.63 per share, yielding about 1.2% annually.

Pictet Asset Management Holding SA lifted its holdings in shares of STERIS plc (NYSE:STE - Free Report) by 9.2% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 823,649 shares of the medical equipment provider's stock after acquiring an additional 69,670 shares during the quarter. Pictet Asset Management Holding SA owned approximately 0.84% of STERIS worth $182,108,000 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. GHP Investment Advisors Inc. boosted its holdings in STERIS by 3.9% in the first quarter. GHP Investment Advisors Inc. now owns 69,657 shares of the medical equipment provider's stock valued at $15,403,000 after acquiring an additional 2,597 shares in the last quarter. Louisiana State Employees Retirement System purchased a new position in STERIS during the 1st quarter valued at $1,106,000. Fifth Third Wealth Advisors LLC raised its holdings in STERIS by 2.7% in the 1st quarter. Fifth Third Wealth Advisors LLC now owns 3,336 shares of the medical equipment provider's stock worth $738,000 after purchasing an additional 87 shares in the last quarter. Banque Cantonale Vaudoise bought a new position in STERIS in the 1st quarter worth $566,000. Finally, Assenagon Asset Management S.A. raised its holdings in STERIS by 160.6% in the 1st quarter. Assenagon Asset Management S.A. now owns 48,846 shares of the medical equipment provider's stock worth $10,801,000 after purchasing an additional 30,104 shares in the last quarter. Hedge funds and other institutional investors own 94.69% of the company's stock.

Insiders Place Their Bets

In other news, VP John Adam Zangerle sold 1,419 shares of STERIS 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 completion of the transaction, the vice president directly owned 35,259 shares in the company, valued at approximately $7,379,003.52. This trade represents a 3.87% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Daniel A. Carestio sold 1,374 shares of the business's stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $212.00, for a total value of $291,288.00. Following the completion of the sale, the chief executive officer directly owned 63,647 shares in the company, valued at approximately $13,493,164. This represents a 2.11% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 7,328 shares of company stock worth $1,554,051. 1.12% of the stock is currently owned by company insiders.

STERIS Price Performance

STE opened at $215.59 on Monday. The company has a current ratio of 2.09, a quick ratio of 1.54 and a debt-to-equity ratio of 0.25. The company has a market cap of $21.01 billion, a price-to-earnings ratio of 27.19 and a beta of 0.93. The stock has a fifty day simple moving average of $212.77 and a two-hundred day simple moving average of $233.10. STERIS plc has a 12-month low of $195.14 and a 12-month high of $269.44.

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

STERIS Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 26th. Investors of record on Monday, June 8th were paid a dividend of $0.63 per share. The ex-dividend date of this dividend was Monday, June 8th. This represents a $2.52 annualized dividend and a yield of 1.2%. STERIS's payout ratio is presently 31.78%.

Wall Street Analysts Forecast Growth

STE has been the topic of a number of research reports. KeyCorp cut their target price on shares of STERIS from $291.00 to $269.00 and set an "overweight" rating on the stock in a research note on Wednesday, May 13th. Wall Street Zen downgraded shares of STERIS from a "strong-buy" rating to a "buy" rating in a research note on Saturday, June 6th. Weiss Ratings lowered shares of STERIS from a "hold (c+)" rating to a "hold (c)" rating in a report on Wednesday, May 27th. Finally, 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. Three investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat, STERIS presently has a consensus rating of "Moderate Buy" and an average target price of $278.00.

About STERIS

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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