STERIS plc $STE Holdings Cut by Mediolanum International Funds Ltd

Mediolanum International Funds Ltd lowered its stake in shares of STERIS plc (NYSE:STE - Free Report) by 92.0% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,309 shares of the medical equipment provider's stock after selling 38,225 shares during the period. Mediolanum International Funds Ltd's holdings in STERIS were worth $726,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Nordea Investment Management AB increased its position in STERIS by 259.0% in the 4th quarter. Nordea Investment Management AB now owns 51,602 shares of the medical equipment provider's stock worth $13,165,000 after purchasing an additional 37,228 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of STERIS by 40.8% during the 4th quarter. Goldman Sachs Group Inc. now owns 633,530 shares of the medical equipment provider's stock valued at $160,613,000 after buying an additional 183,680 shares during the last quarter. Cerity Partners LLC grew its stake in shares of STERIS by 116.7% in the 4th quarter. Cerity Partners LLC now owns 209,923 shares of the medical equipment provider's stock valued at $53,220,000 after buying an additional 113,070 shares in the last quarter. Kornitzer Capital Management Inc. KS bought a new stake in shares of STERIS in the 1st quarter valued at approximately $5,506,000. Finally, Carderock Capital Management Inc. increased its holdings in STERIS by 24.7% in the fourth quarter. Carderock Capital Management Inc. now owns 37,085 shares of the medical equipment provider's stock worth $9,402,000 after buying an additional 7,344 shares during the last quarter. 94.69% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO Daniel A. Carestio sold 3,054 shares of the stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $214.64, for a total transaction of $655,510.56. Following the completion of the sale, the chief executive officer owned 65,021 shares in the company, valued at $13,956,107.44. This represents a 4.49% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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 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 directly owned 38,964 shares in the company, valued at $8,163,347.64. This trade represents a 3.66% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 7,328 shares of company stock valued at $1,554,051. Insiders own 1.12% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on STE shares. KeyCorp cut their price objective on shares of STERIS from $291.00 to $269.00 and set an "overweight" rating on the stock in a research report on Wednesday, May 13th. Piper Sandler restated an "overweight" rating and set a $270.00 price target on shares of STERIS in a report on Thursday, May 21st. Wall Street Zen cut STERIS from a "strong-buy" rating to a "buy" rating in a research report on Saturday, June 6th. Finally, Weiss Ratings lowered STERIS from a "hold (c+)" rating to a "hold (c)" rating in a report on Wednesday, May 27th. Three equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, STERIS presently has a consensus rating of "Moderate Buy" and an average target price of $278.00.

STERIS Price Performance

NYSE STE opened at $211.49 on Wednesday. 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 fifty day simple moving average of $211.75 and a 200 day simple moving average of $228.27. The company has a market cap of $20.61 billion, a P/E ratio of 26.67 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 posted its earnings results 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 firm had revenue of $1.59 billion during the quarter, compared to analyst estimates of $1.59 billion. STERIS had a net margin of 13.18% and a return on equity of 14.15%. The business's quarterly revenue was up 6.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.74 earnings per share. STERIS has set its FY 2027 guidance at 11.100-11.300 EPS. On average, sell-side analysts predict that STERIS plc will post 11.18 EPS for the current year.

STERIS Announces Dividend

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

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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