SEB Asset Management AB Invests $30.66 Million in STERIS plc $STE

Key Points

• SEB Asset Management AB disclosed a new position in STERIS, buying 138,652 shares worth about $30.66 million in the first quarter and holding roughly 0.14% of the company.
• STERIS reported quarterly EPS of $2.83, slightly below analyst expectations, while revenue came in at $1.59 billion and rose 6.7% year over year. The company also reaffirmed FY 2027 guidance of 11.10 to 11.30 EPS.
• Analysts remain generally constructive on the stock, with a Moderate Buy consensus and an average target price of $278. STERIS also pays a quarterly dividend of $0.63 per share, implying a 1.2% annual yield.

SEB Asset Management AB purchased a new position in shares of STERIS plc (NYSE:STE - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 138,652 shares of the medical equipment provider's stock, valued at approximately $30,660,000. SEB Asset Management AB owned approximately 0.14% of STERIS as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Trust Co. of Vermont raised its stake in shares of STERIS by 30.2% during the 4th quarter. Trust Co. of Vermont now owns 164 shares of the medical equipment provider's stock worth $42,000 after buying an additional 38 shares in the last quarter. Bailard Inc. boosted its stake in shares of STERIS by 3.5% in the fourth quarter. Bailard Inc. now owns 1,118 shares of the medical equipment provider's stock valued at $283,000 after buying an additional 38 shares in the last quarter. Geneos Wealth Management Inc. boosted its stake in shares of STERIS by 34.9% in the second quarter. Geneos Wealth Management Inc. now owns 174 shares of the medical equipment provider's stock valued at $42,000 after buying an additional 45 shares in the last quarter. Ascent Group LLC grew its holdings in STERIS by 4.9% during the fourth quarter. Ascent Group LLC now owns 1,009 shares of the medical equipment provider's stock worth $256,000 after acquiring an additional 47 shares during the period. Finally, Clear Harbor Asset Management LLC grew its holdings in STERIS by 3.8% during the fourth quarter. Clear Harbor Asset Management LLC now owns 1,350 shares of the medical equipment provider's stock worth $342,000 after acquiring an additional 50 shares during the period. Institutional investors and hedge funds own 94.69% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Piper Sandler reissued an "overweight" rating and issued a $270.00 target price on shares of STERIS in a report on Thursday, May 21st. KeyCorp cut their price target on shares of STERIS from $291.00 to $269.00 and set an "overweight" rating for the company in a report on Wednesday, May 13th. Weiss Ratings cut shares of STERIS from a "hold (c+)" rating to a "hold (c)" rating in a research note on Wednesday, May 27th. Finally, Wall Street Zen downgraded shares of STERIS from a "strong-buy" rating to a "buy" rating in a report on Saturday, June 6th. Three analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, STERIS has a consensus rating of "Moderate Buy" and a consensus target price of $278.00.

STERIS Stock Performance

Shares of STE stock opened at $217.66 on Monday. The stock has a fifty day moving average price of $211.49 and a 200 day moving average price of $228.86. 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 cap of $21.21 billion, a PE ratio of 27.45 and a beta of 0.92. 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 announced its quarterly earnings results 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 firm had revenue of $1.59 billion during the quarter, compared to analysts' expectations of $1.59 billion. STERIS had a net margin of 13.18% and a return on equity of 14.15%. The company's quarterly revenue was up 6.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.74 EPS. STERIS has set its FY 2027 guidance at 11.100-11.300 EPS. Sell-side analysts forecast that STERIS plc will post 11.18 earnings per share for the current fiscal year.

STERIS Dividend Announcement

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

Insider Buying and Selling at STERIS

In other STERIS news, Director Richard C. Breeden sold 1,481 shares of STERIS stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $209.51, for a total transaction of $310,284.31. Following the completion of the transaction, the director owned 38,964 shares in the company, valued at approximately $8,163,347.64. The trade was a 3.66% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP John Adam Zangerle sold 1,419 shares of the company's stock in a transaction dated 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 sale, the vice president directly owned 35,259 shares in the company, valued at $7,379,003.52. This trade represents a 3.87% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 7,328 shares of company stock worth $1,554,051. 1.12% of the stock is owned by corporate insiders.

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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