Sustainable Growth Advisers LP Has $192.34 Million Stock Position in STERIS plc $STE

Key Points

• Sustainable Growth Advisers LP cut its STERIS stake by 28.8% in the fourth quarter, but still held 758,684 shares worth about $192.3 million, making STERIS its 27th largest holding.
• STERIS reported mixed quarterly results: EPS of $2.83 came in slightly below estimates, while revenue matched expectations at $1.59 billion and rose 6.7% year over year.
• The company announced a quarterly dividend of $0.63 per share, and analysts currently rate the stock a Moderate Buy with a consensus price target of $278.00.

Sustainable Growth Advisers LP lowered its holdings in shares of STERIS plc (NYSE:STE - Free Report) by 28.8% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 758,684 shares of the medical equipment provider's stock after selling 306,974 shares during the period. STERIS comprises about 1.3% of Sustainable Growth Advisers LP's portfolio, making the stock its 27th biggest holding. Sustainable Growth Advisers LP owned about 0.77% of STERIS worth $192,342,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Board of the Pension Protection Fund acquired a new position in shares of STERIS during the 4th quarter worth $25,000. Harbor Investment Advisory LLC raised its holdings in shares of STERIS by 115.4% during the 4th quarter. Harbor Investment Advisory LLC now owns 112 shares of the medical equipment provider's stock worth $28,000 after buying an additional 60 shares in the last quarter. Activest Wealth Management grew its position in STERIS by 423.8% during the 4th quarter. Activest Wealth Management now owns 110 shares of the medical equipment provider's stock worth $28,000 after acquiring an additional 89 shares during the last quarter. Measured Wealth Private Client Group LLC bought a new stake in STERIS during the 4th quarter worth $28,000. Finally, Geneos Wealth Management Inc. grew its position in STERIS by 416.0% during the 1st quarter. Geneos Wealth Management Inc. now owns 129 shares of the medical equipment provider's stock worth $29,000 after acquiring an additional 104 shares during the last quarter. Institutional investors and hedge funds own 94.69% of the company's stock.

Insider Activity at STERIS

In related news, Director Cynthia L. Feldmann sold 3,098 shares of the company's stock in a transaction dated Thursday, March 5th. The stock was sold at an average price of $237.21, for a total transaction of $734,876.58. Following the sale, the director owned 705 shares in the company, valued at $167,233.05. This represents a 81.46% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.07% of the stock is currently owned by insiders.

STERIS Stock Down 0.9%

Shares of STERIS stock opened at $210.80 on Tuesday. STERIS plc has a one year low of $195.14 and a one year high of $269.44. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.09 and a quick ratio of 1.54. The stock's 50-day moving average is $218.10 and its 200 day moving average is $240.37. The firm has a market cap of $20.67 billion, a price-to-earnings ratio of 26.58 and a beta of 0.93.

STERIS (NYSE:STE - Get Free Report) last announced its earnings results on Monday, May 11th. The medical equipment provider reported $2.83 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 business had revenue of $1.59 billion for the quarter, compared to the consensus estimate of $1.59 billion. During the same quarter in the previous year, the company earned $2.74 EPS. The firm'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. Equities research analysts anticipate that STERIS plc will post 11.18 EPS for the current year.

STERIS Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 26th. Investors of record on Monday, June 8th will be given a dividend of $0.63 per share. The ex-dividend date is Monday, June 8th. This represents a $2.52 annualized dividend and a dividend yield of 1.2%. STERIS's dividend payout ratio is presently 31.78%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Wall Street Zen upgraded STERIS from a "buy" rating to a "strong-buy" rating in a research report on Saturday, May 16th. Piper Sandler restated an "overweight" rating and set a $270.00 price objective on shares of STERIS in a research report on Thursday, May 21st. KeyCorp reduced their price objective on STERIS from $291.00 to $269.00 and set an "overweight" rating on the stock in a research report on Wednesday, May 13th. Finally, Weiss Ratings lowered STERIS from a "hold (c+)" rating to a "hold (c)" rating in a research report on Wednesday, May 27th. Three investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus 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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