STERIS plc $STE Shares Sold by KBC Group NV

Key Points

• KBC Group NV cut its STERIS stake by 19.8% in the first quarter, selling 5,324 shares and leaving it with 21,522 shares valued at about $4.76 million.
• Analyst sentiment remains moderately positive, with an average “Moderate Buy” rating and a consensus price target of $278, even though some firms lowered ratings or trimmed targets.
• STERIS reported mixed quarterly results: EPS came in slightly below expectations at $2.83 versus $2.86, while revenue matched estimates at $1.59 billion and rose 6.7% year over year.

KBC Group NV lowered its position in shares of STERIS plc (NYSE:STE - Free Report) by 19.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,522 shares of the medical equipment provider's stock after selling 5,324 shares during the period. KBC Group NV's holdings in STERIS were worth $4,759,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the business. Trust Co. of Vermont lifted its holdings in STERIS by 30.2% during the 4th quarter. Trust Co. of Vermont now owns 164 shares of the medical equipment provider's stock worth $42,000 after buying an additional 38 shares during the last quarter. Bailard Inc. raised its position in shares of STERIS by 3.5% during the 4th quarter. Bailard Inc. now owns 1,118 shares of the medical equipment provider's stock worth $283,000 after acquiring an additional 38 shares in the last quarter. Geneos Wealth Management Inc. raised its position in shares of STERIS by 34.9% during the 2nd quarter. Geneos Wealth Management Inc. now owns 174 shares of the medical equipment provider's stock worth $42,000 after acquiring an additional 45 shares in the last quarter. Ascent Group LLC lifted its stake in STERIS by 4.9% during the fourth quarter. Ascent Group LLC now owns 1,009 shares of the medical equipment provider's stock worth $256,000 after purchasing an additional 47 shares during the last quarter. Finally, Clear Harbor Asset Management LLC lifted its stake in STERIS by 3.8% during the fourth quarter. Clear Harbor Asset Management LLC now owns 1,350 shares of the medical equipment provider's stock worth $342,000 after purchasing an additional 50 shares during the last quarter. Hedge funds and other institutional investors own 94.69% of the company's stock.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Wall Street Zen lowered shares of STERIS from a "strong-buy" rating to a "buy" rating in a research note on Saturday, June 6th. Weiss Ratings cut shares of STERIS from a "hold (c+)" rating to a "hold (c)" rating in a report on Wednesday, May 27th. KeyCorp dropped their target price 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. Finally, Piper Sandler reiterated 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 issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $278.00.

STERIS Trading Up 0.0%

STE opened at $210.60 on Friday. The firm has a market cap of $20.52 billion, a price-to-earnings ratio of 26.56 and a beta of 0.92. STERIS plc has a 52 week low of $195.14 and a 52 week high of $269.44. The business's 50 day moving average is $211.64 and its two-hundred day moving average is $227.69. 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 (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 for the quarter, missing the consensus estimate 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%. STERIS's revenue was up 6.7% compared to the same quarter last year. During the same period in the previous year, the company posted $2.74 earnings per share. STERIS has set its FY 2027 guidance at 11.100-11.300 EPS. On average, research 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. Shareholders of record on Monday, June 8th were given a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend was Monday, June 8th. STERIS's dividend payout ratio (DPR) is presently 31.78%.

Insider Buying and Selling at STERIS

In other STERIS news, Director Richard C. Breeden sold 1,481 shares of STERIS stock in a transaction 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 transaction, the director directly owned 38,964 shares in the company, valued at approximately $8,163,347.64. The trade was a 3.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Daniel A. Carestio sold 3,054 shares of the company's stock in a transaction dated Thursday, June 4th. The shares were 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 directly owned 65,021 shares of the company's stock, valued at $13,956,107.44. The trade was a 4.49% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 7,328 shares of company stock worth $1,554,051. 1.12% of the stock is owned by company insiders.

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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