STERIS plc $STE Stock Holdings Increased by Assenagon Asset Management S.A.

Key Points

• Assenagon Asset Management increased its STERIS stake by 37.9% in the third quarter, bringing its holdings to 105,373 shares worth approximately $22.1 million. Institutional investors collectively own 94.69% of the company.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $271.33, compared with shares trading around $222.29.
• STERIS reported quarterly adjusted EPS of $2.59, exceeding estimates, while revenue rose 7.3% year over year to $1.49 billion. The company also raised its quarterly dividend to $0.69 per share, equivalent to a 1.2% annual yield.

Assenagon Asset Management S.A. boosted its stake in shares of STERIS plc (NYSE:STE - Free Report) by 37.9% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 105,373 shares of the medical equipment provider's stock after purchasing an additional 28,933 shares during the period. Assenagon Asset Management S.A. owned approximately 0.11% of STERIS worth $22,129,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of STE. apricus wealth LLC increased its position in shares of STERIS by 3.6% in the first quarter. apricus wealth LLC now owns 1,506 shares of the medical equipment provider's stock worth $333,000 after purchasing an additional 53 shares during the last quarter. NewEdge Advisors LLC lifted its position in STERIS by 0.7% during the second quarter. NewEdge Advisors LLC now owns 8,118 shares of the medical equipment provider's stock valued at $1,710,000 after purchasing an additional 56 shares during the last quarter. Root Financial Partners LLC lifted its position in STERIS by 30.7% during the first quarter. Root Financial Partners LLC now owns 247 shares of the medical equipment provider's stock valued at $55,000 after purchasing an additional 58 shares during the last quarter. Mather Group LLC. lifted its position in STERIS by 14.4% during the third quarter. Mather Group LLC. now owns 565 shares of the medical equipment provider's stock valued at $119,000 after purchasing an additional 71 shares during the last quarter. Finally, CX Institutional grew its stake in STERIS by 6.7% in the 3rd quarter. CX Institutional now owns 1,271 shares of the medical equipment provider's stock worth $267,000 after buying an additional 80 shares in the last quarter. Institutional investors and hedge funds own 94.69% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on STE shares. Piper Sandler reissued an "overweight" rating and issued a $275.00 target price (up from $270.00) on shares of STERIS in a research note on Friday, August 7th. UBS Group dropped their price target on STERIS from $275.00 to $270.00 and set a "buy" rating for the company in a research note on Friday, August 7th. Weiss Ratings reiterated a "hold (c)" rating on shares of STERIS in a report on Monday, August 24th. Finally, Wall Street Zen cut STERIS from a "strong-buy" rating to a "buy" rating in a report on Sunday, October 11th. Three investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $271.33.

Insider Activity at STERIS

In related news, Director Mohsen Sohi sold 4,058 shares of STERIS stock in a transaction on Wednesday, August 12th. The shares were sold at an average price of $235.78, for a total value of $956,795.24. Following the transaction, the director directly owned 24,305 shares of the company's stock, valued at $5,730,632.90. The trade was a 14.31% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.12% of the stock is currently owned by insiders.

STERIS Trading Down 0.2%

Shares of STE opened at $222.29 on Monday. STERIS plc has a fifty-two week low of $195.14 and a fifty-two week high of $269.44. The firm has a market cap of $21.67 billion, a price-to-earnings ratio of 27.17 and a beta of 0.92. The firm has a 50 day moving average price of $221.08 and a 200-day moving average price of $217.90. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.35 and a current ratio of 1.91.

STERIS (NYSE:STE - Get Free Report) last released its earnings results on Wednesday, August 5th. The medical equipment provider reported $2.59 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 company had revenue of $1.49 billion for the quarter, compared to analyst estimates of $1.49 billion. During the same quarter last year, the firm earned $2.34 EPS. The firm's quarterly 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, equities research analysts forecast that STERIS plc will post 11.12 earnings per share for the current year.

STERIS Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 25th. Stockholders of record on Friday, September 4th were issued a $0.69 dividend. This is a positive change from STERIS's previous quarterly dividend of $0.63. This represents a $2.76 annualized dividend and a dividend yield of 1.2%. The ex-dividend date was Friday, September 4th. STERIS's dividend payout ratio (DPR) is 33.74%.

STERIS Profile

STERIS plc NYSE: STE provides products and services designed to support infection prevention, procedural care and the safe manufacture of healthcare and life sciences products. Its offerings include surgical equipment and operating-room solutions, sterilization and decontamination systems, endoscopy products, cleaning and disinfection technologies, and related consumable products.

The company also provides outsourced sterilization and laboratory services through its Applied Sterilization Technologies business.

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