STERIS plc $STE Shares Acquired by Arrowstreet Capital Limited Partnership

Key Points

• Arrowstreet Capital increased its STERIS stake by 20.6% in Q1, buying 88,872 more shares and bringing its holding to 519,511 shares worth about $114.9 million.
• Analysts remain largely positive on the stock, with a consensus rating of “Moderate Buy” and an average price target of $278.00, despite some recent rating and target cuts.
• STERIS reported fiscal Q4 earnings of $2.83 per share, missing estimates by a penny, while revenue rose 6.7% year over year; the company also paid a quarterly dividend of $0.63 per share.

Arrowstreet Capital Limited Partnership boosted its stake in shares of STERIS plc (NYSE:STE - Free Report) by 20.6% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 519,511 shares of the medical equipment provider's stock after purchasing an additional 88,872 shares during the period. Arrowstreet Capital Limited Partnership owned approximately 0.53% of STERIS worth $114,879,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Activest Wealth Management grew its stake in shares of STERIS by 423.8% during the 4th quarter. Activest Wealth Management now owns 110 shares of the medical equipment provider's stock valued at $28,000 after buying an additional 89 shares during the period. Measured Wealth Private Client Group LLC purchased a new stake in STERIS during the fourth quarter valued at about $28,000. Geneos Wealth Management Inc. increased its stake in STERIS by 416.0% during the first 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. Cornerstone Planning Group LLC increased its stake in STERIS by 342.3% during the fourth quarter. Cornerstone Planning Group LLC now owns 115 shares of the medical equipment provider's stock worth $30,000 after acquiring an additional 89 shares during the last quarter. Finally, Meramec Financial Planners LLC purchased a new position in shares of STERIS in the 1st quarter worth about $33,000. Institutional investors and hedge funds own 94.69% of the company's stock.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling at STERIS

In related news, VP John Adam Zangerle sold 1,419 shares of the business's stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $209.28, for a total transaction of $296,968.32. Following the sale, the vice president owned 35,259 shares of the company's stock, valued at $7,379,003.52. The trade was a 3.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Richard C. Breeden sold 1,481 shares of the company's stock in a transaction that occurred on 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 sale, the director owned 38,964 shares of the company's stock, valued at $8,163,347.64. This trade represents a 3.66% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 7,328 shares of company stock valued at $1,554,051. Company insiders own 1.12% of the company's stock.

STERIS Stock Performance

Shares of STE stock opened at $214.16 on Friday. STERIS plc has a 12 month low of $195.14 and a 12 month high of $269.44. The company's fifty day moving average price is $211.69 and its two-hundred day moving average price is $227.60. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.09 and a quick ratio of 1.54. The firm has a market capitalization of $20.87 billion, a P/E ratio of 27.01 and a beta of 0.92.

STERIS (NYSE:STE - Get Free Report) last released 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). The company had revenue of $1.59 billion during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period in the previous year, the firm posted $2.74 EPS. STERIS has set its FY 2027 guidance at 11.100-11.300 EPS. On average, research 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. Shareholders of record on Monday, June 8th were paid a dividend of $0.63 per share. The ex-dividend date of this dividend was Monday, June 8th. This represents a $2.52 annualized dividend and a yield of 1.2%. STERIS's dividend payout ratio (DPR) is presently 31.78%.

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.

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.