STERIS plc $STE Shares Sold by Forsta AP Fonden

Key Points

• Forsta AP Fonden cut its STERIS stake by 23.7% in the fourth quarter, selling 15,400 shares and leaving it with 49,600 shares valued at about $12.6 million. Institutional ownership remains very high, with hedge funds and other institutions holding 94.69% of the stock.
• Insider selling also occurred, as director Cynthia L. Feldmann sold 3,098 shares at an average of $237.21, reducing her holdings by 81.46%. Insiders now own just 1.07% of the company.
• STERIS reported mixed quarterly results, with EPS of $2.83 slightly below expectations while revenue matched estimates at $1.59 billion and rose 6.7% year over year. The company also declared a quarterly dividend of $0.63 per share, and analysts currently rate the stock a “Moderate Buy” with a consensus target price of $278.

Forsta AP Fonden trimmed its stake in STERIS plc (NYSE:STE - Free Report) by 23.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 49,600 shares of the medical equipment provider's stock after selling 15,400 shares during the quarter. Forsta AP Fonden owned approximately 0.05% of STERIS worth $12,575,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Board of the Pension Protection Fund acquired a new position in STERIS in the fourth quarter valued at $25,000. 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. Activest Wealth Management increased its stake in 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 last quarter. Geneos Wealth Management Inc. increased its stake in STERIS by 416.0% in the first quarter. Geneos Wealth Management Inc. now owns 129 shares of the medical equipment provider's stock valued at $29,000 after purchasing an additional 104 shares during the last quarter. Finally, Cornerstone Planning Group LLC increased its stake in STERIS by 342.3% in the fourth quarter. Cornerstone Planning Group LLC now owns 115 shares of the medical equipment provider's stock valued at $30,000 after purchasing an additional 89 shares during the last quarter. 94.69% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at STERIS

In other news, Director Cynthia L. Feldmann sold 3,098 shares of the company's stock in a transaction dated Thursday, March 5th. The stock was sold at an average price of $237.21, for a total value of $734,876.58. Following the completion of the sale, the director owned 705 shares of the company's stock, valued at $167,233.05. This represents a 81.46% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.07% of the stock is owned by insiders.

STERIS Stock Performance

NYSE:STE opened at $212.52 on Monday. 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 firm has a market capitalization of $20.84 billion, a price-to-earnings ratio of 26.80 and a beta of 0.93. The firm's fifty day simple moving average is $218.24 and its 200 day simple moving average is $240.76. STERIS plc has a twelve month low of $195.14 and a twelve month 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 for the quarter, missing the consensus estimate of $2.86 by ($0.03). STERIS had a net margin of 13.18% and a return on equity of 14.15%. The business had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.59 billion. During the same quarter in the previous year, the firm posted $2.74 EPS. The business's revenue was up 6.7% compared to the same quarter last year. STERIS has set its FY 2027 guidance at 11.100-11.300 EPS. As a group, equities research analysts expect 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 will be paid on Friday, June 26th. Stockholders of record on Monday, June 8th will be given a $0.63 dividend. The ex-dividend date of this dividend is Monday, June 8th. This represents a $2.52 annualized dividend and a dividend yield of 1.2%. STERIS's dividend payout ratio is presently 31.78%.

Wall Street Analysts Forecast Growth

STE has been the subject of several analyst reports. Weiss Ratings lowered STERIS from a "hold (c+)" rating to a "hold (c)" rating in a research note on Wednesday. Wall Street Zen upgraded STERIS from a "buy" rating to a "strong-buy" rating in a research note on Saturday, May 16th. KeyCorp dropped their price target on STERIS from $291.00 to $269.00 and set an "overweight" rating for the company in a research note on Wednesday, May 13th. Finally, Piper Sandler restated an "overweight" rating and set a $270.00 price target on shares of STERIS in a research note on Thursday, May 21st. Three equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, STERIS currently has an average rating of "Moderate Buy" and a consensus target price of $278.00.

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.

Want to see what other hedge funds are holding STE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for STERIS plc (NYSE:STE - Free Report).

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.