SG Americas Securities LLC Sells 51,428 Shares of STERIS plc $STE

Key Points

• SG Americas Securities LLC cut its STERIS stake by 32.7% in the first quarter, selling 51,428 shares and leaving it with 105,707 shares worth about $23.4 million.
• Insiders have also been selling: Director Richard C. Breeden and CEO Daniel A. Carestio both reduced their holdings in June, and insiders have sold 7,328 shares over the last 90 days.
• STERIS reported mixed quarterly results, with EPS of $2.83 missing estimates by $0.03 while revenue matched expectations at $1.59 billion and rose 6.7% year over year; the company also raised a quarterly dividend to $0.63 per share.

SG Americas Securities LLC reduced its stake in shares of STERIS plc (NYSE:STE - Free Report) by 32.7% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 105,707 shares of the medical equipment provider's stock after selling 51,428 shares during the quarter. SG Americas Securities LLC owned 0.11% of STERIS worth $23,375,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Strong Tower Advisory Services grew its stake in STERIS by 4.8% during the first quarter. Strong Tower Advisory Services now owns 14,831 shares of the medical equipment provider's stock worth $3,280,000 after buying an additional 673 shares in the last quarter. Rockefeller Capital Management L.P. raised its position in shares of STERIS by 59.5% in the 4th quarter. Rockefeller Capital Management L.P. now owns 13,613 shares of the medical equipment provider's stock valued at $3,451,000 after buying an additional 5,079 shares in the last quarter. Pacer Advisors Inc. raised its position in shares of STERIS by 51.5% in the 4th quarter. Pacer Advisors Inc. now owns 12,602 shares of the medical equipment provider's stock valued at $3,195,000 after buying an additional 4,282 shares in the last quarter. Kera Capital Partners Inc. lifted its holdings in shares of STERIS by 16.5% during the 4th quarter. Kera Capital Partners Inc. now owns 1,691 shares of the medical equipment provider's stock worth $444,000 after acquiring an additional 240 shares during the period. Finally, T. Rowe Price Investment Management Inc. lifted its holdings in shares of STERIS by 40.6% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 12,484 shares of the medical equipment provider's stock worth $3,165,000 after acquiring an additional 3,607 shares during the period. Institutional investors own 94.69% of the company's stock.

Insider Activity

In other STERIS news, Director Richard C. Breeden sold 1,481 shares of the company'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 completion of the transaction, the director owned 38,964 shares of the company's stock, valued at $8,163,347.64. This represents a 3.66% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Daniel A. Carestio sold 3,054 shares of the company's stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $214.64, for a total value of $655,510.56. Following the completion of the transaction, the chief executive officer directly owned 65,021 shares of the company's stock, valued at approximately $13,956,107.44. The trade was a 4.49% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 7,328 shares of company stock worth $1,554,051. Insiders own 1.12% of the company's stock.

STERIS Trading Up 1.7%

STE opened at $206.68 on Thursday. The company's 50 day moving average is $213.19 and its 200-day moving average is $233.79. STERIS plc has a 1-year low of $195.14 and a 1-year high of $269.44. 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 $20.14 billion, a P/E ratio of 26.06 and a beta of 0.93.

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

STERIS Announces Dividend

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

Wall Street Analysts Forecast Growth

STE has been the topic of a number of recent analyst reports. KeyCorp decreased their price objective 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 cut STERIS from a "strong-buy" rating to a "buy" rating in a research note on Saturday, June 6th. Weiss Ratings downgraded STERIS from a "hold (c+)" rating to a "hold (c)" rating in a report on Wednesday, May 27th. 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 analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target 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.

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