Sumitomo Mitsui Trust Group Inc. Sells 10,552 Shares of STERIS plc $STE

Sumitomo Mitsui Trust Group Inc. trimmed its holdings in STERIS plc (NYSE:STE - Free Report) by 4.8% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 208,697 shares of the medical equipment provider's stock after selling 10,552 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned 0.21% of STERIS worth $46,149,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. raised its stake in shares of STERIS by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 12,286,535 shares of the medical equipment provider's stock valued at $3,114,882,000 after purchasing an additional 73,014 shares in the last quarter. State Street Corp boosted its stake in STERIS by 6.0% during the fourth quarter. State Street Corp now owns 4,614,840 shares of the medical equipment provider's stock worth $1,169,957,000 after buying an additional 260,001 shares in the last quarter. Geode Capital Management LLC increased its holdings in STERIS by 0.6% in the 4th quarter. Geode Capital Management LLC now owns 2,523,620 shares of the medical equipment provider's stock valued at $637,259,000 after buying an additional 14,151 shares during the period. Orbis Allan Gray Ltd raised its stake in shares of STERIS by 5.6% in the 4th quarter. Orbis Allan Gray Ltd now owns 2,249,511 shares of the medical equipment provider's stock valued at $570,296,000 after buying an additional 120,200 shares in the last quarter. Finally, AQR Capital Management LLC raised its stake in shares of STERIS by 37.2% in the 4th quarter. AQR Capital Management LLC now owns 1,623,234 shares of the medical equipment provider's stock valued at $411,522,000 after buying an additional 440,164 shares in the last quarter. Institutional investors and hedge funds own 94.69% of the company's stock.

Insider Buying and Selling at STERIS

In other news, VP John Adam Zangerle sold 1,419 shares of the firm's stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $209.28, for a total transaction of $296,968.32. Following the completion of the sale, the vice president owned 35,259 shares in the company, valued at approximately $7,379,003.52. This trade represents a 3.87% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Richard C. Breeden sold 1,481 shares of the company's stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $209.51, for a total transaction of $310,284.31. Following the completion of the transaction, the director owned 38,964 shares in the company, valued at approximately $8,163,347.64. This trade represents a 3.66% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 7,328 shares of company stock valued at $1,554,051 in the last quarter. 1.12% of the stock is currently owned by insiders.

STERIS Stock Performance

Shares of STE opened at $215.76 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 fifty day simple moving average of $211.31 and a 200 day simple moving average of $230.29. The stock has a market capitalization of $21.03 billion, a price-to-earnings ratio of 27.21 and a beta of 0.92. STERIS plc has a 12 month low of $195.14 and a 12 month high of $269.44.

STERIS (NYSE:STE - Get Free Report) last issued its earnings results on Monday, May 11th. The medical equipment provider reported $2.83 earnings per share (EPS) 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 firm had revenue of $1.59 billion during the quarter, compared to analyst estimates of $1.59 billion. During the same quarter last year, the business posted $2.74 earnings per share. The company's revenue for the quarter was up 6.7% on a year-over-year basis. STERIS has set its FY 2027 guidance at 11.100-11.300 EPS. Research analysts forecast that STERIS plc will post 11.18 EPS for the current fiscal year.

STERIS Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 26th. Shareholders of record on Monday, June 8th were issued a dividend of $0.63 per share. The ex-dividend date of this dividend was Monday, June 8th. This represents a $2.52 annualized dividend and a yield of 1.2%. STERIS's dividend payout ratio (DPR) is currently 31.78%.

Analysts Set New Price Targets

Several brokerages recently commented on STE. Wall Street Zen lowered STERIS from a "strong-buy" rating to a "buy" rating in a research note on Saturday, June 6th. KeyCorp reduced 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. Weiss Ratings cut shares of STERIS from a "hold (c+)" rating to a "hold (c)" rating in a research note on Wednesday, May 27th. Finally, Piper Sandler reaffirmed an "overweight" rating and issued a $270.00 price target on shares of STERIS in a report on Thursday, May 21st. Three research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $278.00.

STERIS 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.

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