STERIS plc $STE Stock Holdings Boosted by Handelsbanken Fonder AB

Key Points

• Handelsbanken Fonder AB increased its stake in STERIS by 15.4% in the fourth quarter, bringing its holdings to 74,445 shares valued at about $18.9 million.
• STERIS reported quarterly earnings of $2.83 per share, slightly below estimates, while revenue came in at $1.59 billion and rose 6.7% year over year.
• The company declared a quarterly dividend of $0.63 per share payable June 26, and analysts currently have a consensus rating of Moderate Buy with an average price target of $275.67.

Handelsbanken Fonder AB boosted its position in STERIS plc (NYSE:STE - Free Report) by 15.4% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 74,445 shares of the medical equipment provider's stock after purchasing an additional 9,935 shares during the quarter. Handelsbanken Fonder AB owned about 0.08% of STERIS worth $18,873,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of STE. Board of the Pension Protection Fund bought a new stake in shares of STERIS during the fourth quarter valued at approximately $25,000. Harbor Investment Advisory LLC increased its position in STERIS by 115.4% in the 4th quarter. Harbor Investment Advisory LLC now owns 112 shares of the medical equipment provider's stock valued at $28,000 after acquiring an additional 60 shares during the period. Activest Wealth Management increased its position in STERIS by 423.8% in the 4th quarter. Activest Wealth Management now owns 110 shares of the medical equipment provider's stock valued at $28,000 after acquiring an additional 89 shares during the period. Cloud Capital Management LLC bought a new stake in STERIS during the 3rd quarter valued at $29,000. Finally, Geneos Wealth Management Inc. raised its stake in STERIS by 416.0% during the 1st quarter. Geneos Wealth Management Inc. now owns 129 shares of the medical equipment provider's stock valued at $29,000 after acquiring an additional 104 shares in the last quarter. 94.69% of the stock is owned by institutional investors and hedge funds.

Insider Activity at STERIS

In related news, Director Cynthia L. Feldmann sold 3,098 shares of the stock in a transaction that occurred on Thursday, March 5th. The shares were sold at an average price of $237.21, for a total transaction of $734,876.58. Following the completion of the sale, the director directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.07% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Weiss Ratings cut STERIS from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Thursday, April 16th. Wall Street Zen raised shares of STERIS from a "buy" rating to a "strong-buy" rating in a report on Saturday, May 16th. Finally, KeyCorp lowered their target price on shares of STERIS from $291.00 to $269.00 and set an "overweight" rating on the stock in a research note on Wednesday, May 13th. Two investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $275.67.

STERIS Stock Up 0.5%

Shares of STE stock opened at $215.51 on Thursday. STERIS plc has a 1 year low of $195.14 and a 1 year high of $269.44. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.54 and a current ratio of 2.09. The business's fifty day moving average is $218.56 and its 200-day moving average is $242.42. The stock has a market cap of $21.14 billion, a PE ratio of 27.18 and a beta of 0.95.

STERIS (NYSE:STE - Get Free Report) last announced 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 firm had revenue of $1.59 billion for the quarter, compared to the consensus estimate of $1.59 billion. STERIS had a net margin of 13.18% and a return on equity of 14.15%. The company's quarterly revenue was up 6.7% compared to the same quarter last year. During the same period in the prior year, the business earned $2.74 EPS. STERIS has set its FY 2027 guidance at 11.100-11.300 EPS. Equities analysts expect that STERIS plc will post 11.18 earnings per share for the current fiscal year.

STERIS Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 26th. Stockholders of record on Monday, June 8th will be paid 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 payout ratio is currently 31.78%.

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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