STERIS plc $STE Shares Acquired by Corient Private Wealth LP

Key Points

• Corient Private Wealth LP more than doubled its STERIS stake in the second quarter, increasing holdings by 109.7% to 20,978 shares valued at approximately $4.4 million. Institutional investors collectively own 94.69% of the company.
• STERIS reported quarterly EPS of $2.59, beating estimates by $0.10, while revenue rose 7.3% year over year to $1.49 billion. The company also raised its quarterly dividend from $0.63 to $0.69 per share.
• Shares opened at $205.14, down 1.4%, while analysts maintained a generally positive outlook with a “Moderate Buy” consensus rating and an average price target of $271.33. Director Mohsen Sohi separately sold 4,058 shares.

Corient Private Wealth LP grew its holdings in shares of STERIS plc (NYSE:STE - Free Report) by 109.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 20,978 shares of the medical equipment provider's stock after purchasing an additional 10,976 shares during the period. Corient Private Wealth LP's holdings in STERIS were worth $4,417,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the business. Wellington Management Group LLP increased its holdings in shares of STERIS by 21.9% during the second quarter. Wellington Management Group LLP now owns 3,502,897 shares of the medical equipment provider's stock valued at $737,605,000 after acquiring an additional 629,532 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of STERIS by 0.6% during the fourth quarter. Geode Capital Management LLC now owns 2,523,620 shares of the medical equipment provider's stock valued at $637,259,000 after buying an additional 14,151 shares during the last quarter. Janus Henderson Group PLC grew its holdings in shares of STERIS by 25.7% during the first quarter. Janus Henderson Group PLC now owns 1,863,139 shares of the medical equipment provider's stock valued at $411,995,000 after buying an additional 380,504 shares during the last quarter. Norges Bank acquired a new position in shares of STERIS in the 4th quarter valued at $320,298,000. Finally, Franklin Resources Inc. increased its position in shares of STERIS by 0.6% in the 4th quarter. Franklin Resources Inc. now owns 1,252,844 shares of the medical equipment provider's stock valued at $317,621,000 after acquiring an additional 7,840 shares during the period. Institutional investors and hedge funds own 94.69% of the company's stock.

Insider Activity at STERIS

In other news, Director Mohsen Sohi sold 4,058 shares of the firm's stock in a transaction that occurred on Wednesday, August 12th. The stock was sold at an average price of $235.78, for a total value of $956,795.24. Following the transaction, the director owned 24,305 shares in the company, valued at $5,730,632.90. This trade represents a 14.31% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 1.12% of the stock is owned by insiders.

STERIS Stock Down 1.4%

Shares of STE stock opened at $205.14 on Friday. STERIS plc has a twelve month low of $195.14 and a twelve month high of $269.44. The stock has a market cap of $20.00 billion, a P/E ratio of 25.08 and a beta of 0.91. The stock has a 50 day moving average of $225.09 and a 200 day moving average of $219.71. The company has a current ratio of 1.91, a quick ratio of 1.35 and a debt-to-equity ratio of 0.23.

STERIS (NYSE:STE - Get Free Report) last posted its earnings results on Wednesday, August 5th. The medical equipment provider reported $2.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.49 by $0.10. STERIS had a net margin of 13.34% and a return on equity of 14.34%. The firm had revenue of $1.49 billion during the quarter, compared to analysts' expectations of $1.49 billion. During the same period in the previous year, the business posted $2.34 EPS. The business's 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. As a group, sell-side analysts expect that STERIS plc will post 11.12 EPS for the current year.

STERIS Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Friday, September 4th will be issued a dividend of $0.69 per share. The ex-dividend date of this dividend is Friday, September 4th. 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%. STERIS's payout ratio is currently 33.74%.

Wall Street Analysts Forecast Growth

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

About STERIS

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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