Swedbank AB Has $68.72 Million Position in STERIS plc $STE

Key Points

• Swedbank AB raised its position in STERIS by 5.7% in the fourth quarter, ending with 271,078 shares valued at about $68.7 million. Institutional ownership remains very high, with hedge funds and other investors holding 94.69% of the stock.
• STERIS shares were down 1.4% and traded at $216.69, after reporting quarterly earnings of $2.83 per share, slightly below estimates. Revenue came in at $1.59 billion, matching expectations and rising 6.7% year over year.
• The company declared a quarterly dividend of $0.63 per share, payable June 26, implying a 1.2% annual yield. Analysts currently have a Moderate Buy consensus with an average price target of $274.25.

Swedbank AB increased its stake in shares of STERIS plc (NYSE:STE - Free Report) by 5.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 271,078 shares of the medical equipment provider's stock after buying an additional 14,500 shares during the quarter. Swedbank AB owned about 0.28% of STERIS worth $68,724,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in STE. Jones Financial Companies Lllp grew its position in STERIS by 46.1% during the first quarter. Jones Financial Companies Lllp now owns 1,106 shares of the medical equipment provider's stock worth $251,000 after buying an additional 349 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of STERIS by 32.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 242,732 shares of the medical equipment provider's stock valued at $55,015,000 after purchasing an additional 59,264 shares in the last quarter. Empowered Funds LLC boosted its holdings in shares of STERIS by 16.1% in the 1st quarter. Empowered Funds LLC now owns 2,303 shares of the medical equipment provider's stock valued at $522,000 after purchasing an additional 319 shares in the last quarter. Woodline Partners LP boosted its holdings in shares of STERIS by 40.0% in the 1st quarter. Woodline Partners LP now owns 8,300 shares of the medical equipment provider's stock valued at $1,881,000 after purchasing an additional 2,372 shares in the last quarter. Finally, Jane Street Group LLC boosted its holdings in shares of STERIS by 38.9% in the 1st quarter. Jane Street Group LLC now owns 20,716 shares of the medical equipment provider's stock valued at $4,695,000 after purchasing an additional 5,803 shares in the last quarter. Institutional investors and hedge funds own 94.69% of the company's stock.

STERIS Trading Down 1.4%

NYSE STE opened at $216.69 on Friday. The company has a quick ratio of 1.54, a current ratio of 2.09 and a debt-to-equity ratio of 0.25. STERIS plc has a twelve month low of $195.14 and a twelve month high of $269.44. The company has a market cap of $21.25 billion, a price-to-earnings ratio of 27.32 and a beta of 0.95. The business's fifty day moving average is $218.41 and its 200 day moving average is $242.13.

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

STERIS Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 26th. Investors of record on Monday, June 8th will be issued a dividend of $0.63 per share. 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 dividend payout ratio (DPR) is 31.78%.

Insider Buying and Selling at STERIS

In related news, Director Cynthia L. Feldmann sold 3,098 shares of the firm's stock in a transaction on 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 of the company's stock, valued at $167,233.05. This trade represents a 81.46% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.07% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Weiss Ratings downgraded STERIS from a "buy (b-)" rating to a "hold (c+)" rating in a report on Thursday, April 16th. KeyCorp reduced their target price on STERIS from $291.00 to $269.00 and set an "overweight" rating on the stock in a report on Wednesday, May 13th. Piper Sandler reaffirmed an "overweight" rating and issued a $270.00 target price on shares of STERIS in a report on Thursday. Finally, Wall Street Zen raised STERIS from a "buy" rating to a "strong-buy" rating in a report on Saturday, May 16th. Three equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, STERIS presently has an average rating of "Moderate Buy" and an average price target of $274.25.

STERIS Company 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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