Rockefeller Capital Management L.P. Raises Stock Position in STERIS plc $STE

Key Points

• Rockefeller Capital Management increased its STERIS position by 59.5% in the fourth quarter, buying an additional 5,079 shares and bringing its total holdings to 13,613 shares worth about $3.45 million.
• STERIS reported mixed quarterly results, with earnings per share of $2.83 falling slightly short of estimates, while revenue matched expectations at $1.59 billion and rose 6.7% year over year.
• Insider selling and analyst sentiment were both notable: several insiders sold shares over the past 90 days, while analysts currently rate the stock a Moderate Buy with a consensus price target of $278.

Rockefeller Capital Management L.P. lifted its holdings in shares of STERIS plc (NYSE:STE - Free Report) by 59.5% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 13,613 shares of the medical equipment provider's stock after purchasing an additional 5,079 shares during the quarter. Rockefeller Capital Management L.P.'s holdings in STERIS were worth $3,451,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Norges Bank acquired a new stake in STERIS during the 4th quarter worth approximately $320,298,000. AQR Capital Management LLC grew its stake in shares of STERIS by 178.6% in the third quarter. AQR Capital Management LLC now owns 1,183,070 shares of the medical equipment provider's stock worth $291,704,000 after acquiring an additional 758,423 shares in the last quarter. Boston Partners purchased a new stake in shares of STERIS during the third quarter worth $158,982,000. Orbis Allan Gray Ltd increased its position in shares of STERIS by 36.0% during the second quarter. Orbis Allan Gray Ltd now owns 2,100,099 shares of the medical equipment provider's stock worth $504,486,000 after acquiring an additional 556,088 shares during the period. Finally, State Street Corp raised its stake in shares of STERIS by 6.0% in the fourth quarter. State Street Corp now owns 4,614,840 shares of the medical equipment provider's stock valued at $1,169,957,000 after acquiring an additional 260,001 shares in the last quarter. Hedge funds and other institutional investors own 94.69% of the company's stock.

Insider Activity at STERIS

In other STERIS news, VP John Adam Zangerle sold 1,419 shares of the company's stock in a transaction on Monday, June 15th. The shares were sold at an average price of $209.28, for a total value of $296,968.32. Following the completion of the transaction, the vice president owned 35,259 shares in the company, valued at $7,379,003.52. This represents a 3.87% decrease in their ownership of the stock. The transaction 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 firm's stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $209.51, for a total value of $310,284.31. Following the transaction, the director directly owned 38,964 shares in the company, valued at approximately $8,163,347.64. The trade was a 3.66% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 7,328 shares of company stock valued at $1,554,051 in the last ninety days. Insiders own 1.12% of the company's stock.

STERIS Trading Up 2.4%

NYSE:STE opened at $215.59 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. STERIS plc has a 1 year low of $195.14 and a 1 year high of $269.44. The stock has a market cap of $21.01 billion, a P/E ratio of 27.19 and a beta of 0.93. The stock has a 50-day simple moving average of $212.77 and a 200-day simple moving average of $233.29.

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

STERIS Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 26th. Investors of record on Monday, June 8th were given a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend was Monday, June 8th. STERIS's dividend payout ratio (DPR) is 31.78%.

Analyst Upgrades and Downgrades

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

Want to see what other hedge funds are holding STE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for STERIS plc (NYSE:STE - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.