Rhenman & Partners Asset Management AB Makes New $1.52 Million Investment in STERIS plc $STE

Key Points

• Rhenman & Partners Asset Management opened a new position in STERIS, buying 6,000 shares worth about $1.52 million in the fourth quarter. Several other institutional investors also increased or initiated stakes, and institutions now own 94.69% of the stock.
• STERIS executives have been selling shares recently: CEO Daniel A. Carestio and Director Richard C. Breeden both made sales in June, with insiders selling 5,909 shares worth about $1.26 million over the last quarter.
• The company recently reported quarterly earnings of $2.83 per share, slightly below estimates, while revenue matched expectations at $1.59 billion. STERIS also declared a $0.63 quarterly dividend and analysts currently rate the stock a Moderate Buy with an average price target of $278.

Rhenman & Partners Asset Management AB purchased a new stake in STERIS plc (NYSE:STE - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 6,000 shares of the medical equipment provider's stock, valued at approximately $1,521,000.

A number of other large investors also recently modified their holdings of the company. Wealthspire Advisors LLC lifted its stake in shares of STERIS by 31.3% in the 4th quarter. Wealthspire Advisors LLC now owns 1,530 shares of the medical equipment provider's stock valued at $388,000 after acquiring an additional 365 shares during the last quarter. Advisors Asset Management Inc. lifted its stake in shares of STERIS by 203.1% in the 4th quarter. Advisors Asset Management Inc. now owns 2,282 shares of the medical equipment provider's stock valued at $579,000 after acquiring an additional 1,529 shares during the last quarter. CI Investments Inc. lifted its stake in shares of STERIS by 9.1% in the 4th quarter. CI Investments Inc. now owns 1,331 shares of the medical equipment provider's stock valued at $337,000 after acquiring an additional 111 shares during the last quarter. Federation des caisses Desjardins du Quebec lifted its stake in shares of STERIS by 2.4% in the 4th quarter. Federation des caisses Desjardins du Quebec now owns 3,483 shares of the medical equipment provider's stock valued at $883,000 after acquiring an additional 83 shares during the last quarter. Finally, Insigneo Advisory Services LLC bought a new position in shares of STERIS in the 4th quarter valued at $402,000. 94.69% of the stock is currently owned by institutional investors.

Insider Activity at STERIS

In related news, CEO Daniel A. Carestio sold 1,374 shares of the company'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 sale, the chief executive officer directly owned 63,647 shares in the company, valued at $13,493,164. This represents a 2.11% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Richard C. Breeden sold 1,481 shares of the company'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 value of $310,284.31. Following the completion of the sale, the director owned 38,964 shares in the company, valued at $8,163,347.64. The trade was a 3.66% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 5,909 shares of company stock worth $1,257,083 over the last quarter. 1.07% of the stock is currently owned by company insiders.

STERIS Stock Performance

NYSE STE opened at $207.50 on Friday. STERIS plc has a twelve month low of $195.14 and a twelve month high of $269.44. The company has a quick ratio of 1.54, a current ratio of 2.09 and a debt-to-equity ratio of 0.25. The company has a market capitalization of $20.25 billion, a price-to-earnings ratio of 26.17 and a beta of 0.93. The stock has a fifty day simple moving average of $216.08 and a 200 day simple moving average of $237.38.

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 the consensus estimate of $2.86 by ($0.03). STERIS had a net margin of 13.18% and a return on equity of 14.15%. The company 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 company earned $2.74 earnings per share. The business's revenue was up 6.7% on a year-over-year basis. STERIS has set its FY 2027 guidance at 11.100-11.300 EPS. Sell-side analysts expect that STERIS plc will post 11.18 EPS for the current year.

STERIS Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 26th. Investors of record on Monday, June 8th will be issued a $0.63 dividend. The ex-dividend date is Monday, June 8th. This represents a $2.52 annualized dividend and a yield of 1.2%. STERIS's dividend payout ratio is presently 31.78%.

Analyst Upgrades and Downgrades

STE has been the subject of a number of research reports. Wall Street Zen cut STERIS from a "strong-buy" rating to a "buy" rating in a research note on Saturday, June 6th. Weiss Ratings cut STERIS from a "hold (c+)" rating to a "hold (c)" rating in a research note on Wednesday, May 27th. KeyCorp dropped their price target on STERIS from $291.00 to $269.00 and set an "overweight" rating for the company in a research note on Wednesday, May 13th. Finally, Piper Sandler reiterated an "overweight" rating and issued a $270.00 price target on shares of STERIS in a research note on Thursday, May 21st. Three equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, STERIS presently has an average rating of "Moderate Buy" and an average price target 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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