Squarepoint Ops LLC Has $8.82 Million Stock Holdings in STERIS plc $STE

Key Points

• Squarepoint Ops increased its STERIS stake by 1,373.7% in the second quarter, owning 41,898 shares valued at approximately $8.82 million. Institutional investors collectively hold 94.69% of the company.
• Analyst sentiment remains positive, with three Buy ratings and one Hold rating producing a “Moderate Buy” consensus and an average price target of $271.33.
• STERIS exceeded quarterly earnings expectations, reporting $2.59 in adjusted EPS and $1.49 billion in revenue, while revenue rose 7.3% year over year. The company also raised its quarterly dividend from $0.63 to $0.69 per share.

Squarepoint Ops LLC boosted its stake in STERIS plc (NYSE:STE - Free Report) by 1,373.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 41,898 shares of the medical equipment provider's stock after purchasing an additional 39,055 shares during the period. Squarepoint Ops LLC's holdings in STERIS were worth $8,822,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in STE. Western Wealth Management LLC bought a new stake in shares of STERIS during the first quarter worth $25,000. Elevation Wealth Partners LLC boosted its holdings in shares of STERIS by 1,130.0% during the 2nd quarter. Elevation Wealth Partners LLC now owns 123 shares of the medical equipment provider's stock valued at $26,000 after acquiring an additional 113 shares in the last quarter. Measured Wealth Private Client Group LLC bought a new stake in STERIS during the 4th quarter worth $28,000. Geneos Wealth Management Inc. grew its position in STERIS by 416.0% during the 1st quarter. Geneos Wealth Management Inc. now owns 129 shares of the medical equipment provider's stock worth $29,000 after acquiring an additional 104 shares during the last quarter. Finally, Meramec Financial Planners LLC acquired a new position in STERIS in the 1st quarter worth about $33,000. Institutional investors and hedge funds own 94.69% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have commented on STE shares. Piper Sandler reiterated an "overweight" rating and issued a $275.00 target price (up from $270.00) on shares of STERIS in a research report on Friday, August 7th. Wall Street Zen raised STERIS from a "hold" rating to a "buy" rating in a research note on Sunday, August 9th. Weiss Ratings reiterated a "hold (c)" rating on shares of STERIS in a report on Monday, August 24th. Finally, UBS Group cut their target price on shares of STERIS from $275.00 to $270.00 and set a "buy" rating on the stock in a research report on Friday, August 7th. Three investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $271.33.

STERIS Stock Performance

NYSE STE opened at $212.44 on Friday. The company has a market capitalization of $20.71 billion, a price-to-earnings ratio of 25.97 and a beta of 0.91. The company has a quick ratio of 1.35, a current ratio of 1.91 and a debt-to-equity ratio of 0.23. STERIS plc has a twelve month low of $195.14 and a twelve month high of $269.44. The stock has a fifty day simple moving average of $225.69 and a 200 day simple moving average of $221.22.

STERIS (NYSE:STE - Get Free Report) last announced its earnings results on Wednesday, August 5th. The medical equipment provider reported $2.59 EPS for the quarter, topping the consensus estimate of $2.49 by $0.10. STERIS had a return on equity of 14.34% and a net margin of 13.34%.The firm had revenue of $1.49 billion for the quarter, compared to the consensus estimate of $1.49 billion. During the same period in the previous year, the business earned $2.34 EPS. The business's quarterly revenue was up 7.3% compared to the same quarter last year. STERIS has set its FY 2027 guidance at 11.000-11.300 EPS. Sell-side analysts expect that STERIS plc will post 11.09 EPS for the current year.

STERIS Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Friday, September 4th will be paid a $0.69 dividend. This is an increase from STERIS's previous quarterly dividend of $0.63. This represents a $2.76 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date of this dividend is Friday, September 4th. STERIS's payout ratio is presently 33.74%.

Insider Activity at STERIS

In other news, VP John Zangerle sold 1,419 shares of the business's stock in a transaction that occurred 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 transaction, the vice president owned 35,259 shares in the company, valued at approximately $7,379,003.52. The trade was a 3.87% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Mohsen Sohi sold 4,058 shares of the company's stock in a transaction on Wednesday, August 12th. The shares were sold at an average price of $235.78, for a total transaction of $956,795.24. Following the completion of the sale, the director directly owned 24,305 shares in the company, valued at approximately $5,730,632.90. This represents a 14.31% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 1.12% of the company's stock.

STERIS Company Profile

STERIS plc NYSE: STE is a global provider of products and services designed to support infection prevention, sterilization, surgical procedures and other critical healthcare and life sciences activities. The company serves hospitals, ambulatory surgery centers, dental practices, pharmaceutical and biotechnology manufacturers, medical device companies, and research organizations.

Its offerings include sterilizers, washers, surgical tables and lights, operating-room equipment, endoscopy products, infection-prevention consumables, and related maintenance and technical services.

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