Stoneridge Investment Partners LLC Invests $1.03 Million in STERIS plc $STE

Key Points

• Stoneridge Investment Partners initiated a roughly $1.03 million position in STERIS during the second quarter. Institutional investors collectively own 94.69% of the company.
• STERIS reported quarterly EPS of $2.59, beating estimates by $0.10, while revenue rose 7.3% year over year to $1.49 billion. Analysts maintain a “Moderate Buy” consensus with an average price target of $271.33.
• The company increased its quarterly dividend from $0.63 to $0.69 per share, implying an annualized dividend of $2.76 and a 1.2% yield. Meanwhile, insiders sold $2.51 million of stock over the past 90 days.

Stoneridge Investment Partners LLC bought a new position in STERIS plc (NYSE:STE - Free Report) during the second quarter, according to its most recent disclosure with the SEC. The firm bought 4,497 shares of the medical equipment provider's stock, valued at approximately $1,027,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Western Wealth Management LLC purchased a new stake in STERIS in the first quarter worth about $25,000. Elevation Wealth Partners LLC raised its stake in shares of STERIS by 1,130.0% in the second quarter. Elevation Wealth Partners LLC now owns 123 shares of the medical equipment provider's stock worth $26,000 after buying an additional 113 shares during the period. Activest Wealth Management lifted its position in shares of STERIS by 423.8% during the 4th quarter. Activest Wealth Management now owns 110 shares of the medical equipment provider's stock valued at $28,000 after buying an additional 89 shares in the last quarter. Measured Wealth Private Client Group LLC purchased a new position in shares of STERIS during the 4th quarter valued at about $28,000. Finally, Geneos Wealth Management Inc. grew its stake in shares of 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 during the period. 94.69% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity 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 sale, 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 position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Mohsen Sohi sold 4,058 shares of the business's stock in a transaction on Wednesday, August 12th. The stock was sold at an average price of $235.78, for a total transaction of $956,795.24. Following the completion of the sale, the director owned 24,305 shares in the company, valued at approximately $5,730,632.90. The trade was a 14.31% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 11,386 shares of company stock valued at $2,510,846. Insiders own 1.12% of the company's stock.

Analyst Ratings Changes

Several research firms recently issued reports on STE. UBS Group reduced their target price on shares of STERIS from $275.00 to $270.00 and set a "buy" rating for the company in a report on Friday, August 7th. Weiss Ratings downgraded shares of STERIS from a "hold (c+)" rating to a "hold (c)" rating in a report on Wednesday, May 27th. Piper Sandler reissued an "overweight" rating and issued a $275.00 price objective (up from $270.00) on shares of STERIS in a research note on Friday, August 7th. KeyCorp decreased their price objective 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, Wall Street Zen raised shares of STERIS from a "hold" rating to a "buy" rating in a report on Sunday, August 9th. Three equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, STERIS has an average rating of "Moderate Buy" and an average target price of $271.33.

STERIS Trading Down 1.4%

STE stock opened at $232.88 on Friday. 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 0.23, a current ratio of 1.91 and a quick ratio of 1.35. The company has a market capitalization of $22.71 billion, a price-to-earnings ratio of 28.47 and a beta of 0.91. The business has a 50 day simple moving average of $217.40 and a two-hundred day simple moving average of $224.60.

STERIS (NYSE:STE - Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The medical equipment provider reported $2.59 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.49 by $0.10. The business had revenue of $1.49 billion during the quarter, compared to analyst estimates of $1.49 billion. STERIS had a net margin of 13.34% and a return on equity of 14.34%. The company's revenue was up 7.3% on a year-over-year basis. During the same period last year, the firm posted $2.34 EPS. STERIS has set its FY 2027 guidance at 11.000-11.300 EPS. Research analysts anticipate that STERIS plc will post 11.09 EPS for the current fiscal year.

STERIS Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Friday, September 4th will be paid a dividend of $0.69 per share. The ex-dividend date of this dividend is Friday, September 4th. This is a positive change from STERIS's previous quarterly dividend of $0.63. This represents a $2.76 annualized dividend and a yield of 1.2%. STERIS's dividend payout ratio is 30.81%.

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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