STERIS plc $STE Shares Sold by Corient Private Wealth LLC

Key Points

• Corient Private Wealth LLC cut its STERIS stake by 18.3% in the fourth quarter, while hedge funds and other institutional investors still hold about 94.69% of the company’s shares.
• STERIS reported quarterly EPS of $2.83, slightly below analyst expectations, while revenue came in at $1.59 billion and rose 6.7% year over year.
• The company announced a quarterly dividend of $0.63 per share and noted that analysts currently rate the stock a Moderate Buy with a consensus price target of $278.

Corient Private Wealth LLC reduced its stake in STERIS plc (NYSE:STE - Free Report) by 18.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 42,134 shares of the medical equipment provider's stock after selling 9,449 shares during the quarter. Corient Private Wealth LLC's holdings in STERIS were worth $10,745,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the company. Board of the Pension Protection Fund purchased a new position in shares of STERIS during the 4th quarter worth $25,000. Activest Wealth Management grew its position in shares of STERIS by 423.8% in the fourth quarter. Activest Wealth Management now owns 110 shares of the medical equipment provider's stock valued at $28,000 after purchasing an additional 89 shares during the period. Measured Wealth Private Client Group LLC acquired a new position in STERIS in the fourth quarter valued at $28,000. Harbor Investment Advisory LLC increased its stake in STERIS by 115.4% in the fourth quarter. Harbor Investment Advisory LLC now owns 112 shares of the medical equipment provider's stock valued at $28,000 after purchasing an additional 60 shares during the last quarter. Finally, Cornerstone Planning Group LLC lifted its position 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 buying an additional 89 shares during the period. Hedge funds and other institutional investors own 94.69% of the company's stock.

Insider Activity

In related news, CEO Daniel A. Carestio sold 1,374 shares of the stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $212.00, for a total value of $291,288.00. Following the completion of the transaction, the chief executive officer owned 63,647 shares of the company's stock, valued at approximately $13,493,164. This represents a 2.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible 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 STERIS 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 sale, the director owned 38,964 shares in the company, valued at $8,163,347.64. This represents a 3.66% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 7,328 shares of company stock worth $1,554,051 over the last ninety days. Corporate insiders own 1.12% of the company's stock.

STERIS Stock Up 1.7%

NYSE STE opened at $206.68 on Thursday. The company has a quick ratio of 1.54, a current ratio of 2.09 and a debt-to-equity ratio of 0.25. STERIS plc has a fifty-two week low of $195.14 and a fifty-two week high of $269.44. The business has a 50 day moving average price of $213.19 and a two-hundred day moving average price of $233.79. The stock has a market cap of $20.14 billion, a PE ratio of 26.06 and a beta of 0.93.

STERIS (NYSE:STE - Get Free Report) last posted 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 firm had revenue of $1.59 billion for the quarter, compared to analysts' expectations of $1.59 billion. STERIS had a net margin of 13.18% and a return on equity of 14.15%. The company's revenue for the quarter was up 6.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.74 EPS. STERIS has set its FY 2027 guidance at 11.100-11.300 EPS. As a group, sell-side analysts predict that STERIS plc will post 11.18 EPS for the current fiscal year.

STERIS Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 26th. Stockholders of record on Monday, June 8th will be paid 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 (DPR) is currently 31.78%.

Analyst Ratings Changes

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

STERIS 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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