Marks Group Wealth Management Inc Sells 4,014 Shares of STERIS plc $STE

Marks Group Wealth Management Inc lowered its position in STERIS plc (NYSE:STE) by 11.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 30,777 shares of the medical equipment provider’s stock after selling 4,014 shares during the quarter. Marks Group Wealth Management Inc’s holdings in STERIS were worth $7,803,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of STE. Vanguard Group Inc. raised its holdings in STERIS by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 12,286,535 shares of the medical equipment provider’s stock worth $3,114,882,000 after purchasing an additional 73,014 shares in the last quarter. State Street Corp lifted its position in shares of STERIS by 4.0% during the third quarter. State Street Corp now owns 4,354,839 shares of the medical equipment provider’s stock valued at $1,077,564,000 after buying an additional 166,736 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of STERIS by 0.6% during the fourth 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 last quarter. Orbis Allan Gray Ltd lifted its position in shares of STERIS by 36.0% during the second quarter. Orbis Allan Gray Ltd now owns 2,100,099 shares of the medical equipment provider’s stock valued at $504,486,000 after buying an additional 556,088 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in shares of STERIS by 16.4% during the third quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,567,238 shares of the medical equipment provider’s stock valued at $387,797,000 after buying an additional 221,199 shares during the last quarter. Institutional investors own 94.69% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on STE. Weiss Ratings downgraded STERIS from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, May 27th. Wall Street Zen downgraded STERIS from a “strong-buy” rating to a “buy” rating in a research report on Saturday. KeyCorp reduced their price target 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, Piper Sandler reaffirmed an “overweight” rating and set a $270.00 price target on shares of STERIS in a research report on Thursday, May 21st. Three analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, STERIS has an average rating of “Moderate Buy” and an average price target of $278.00.

Insider Buying and Selling

In other STERIS news, CEO Daniel A. Carestio sold 3,054 shares of the stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $214.64, for a total transaction of $655,510.56. Following the completion of the transaction, the chief executive officer owned 65,021 shares of the company’s stock, valued at $13,956,107.44. This represents a 4.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Richard C. Breeden sold 1,481 shares of the business’s stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $209.51, for a total value of $310,284.31. Following the sale, the director owned 38,964 shares of the company’s stock, valued at $8,163,347.64. The trade was a 3.66% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 5,909 shares of company stock valued at $1,257,083 in the last three months. Insiders own 1.07% of the company’s stock.

STERIS Price Performance

Shares of STE opened at $210.19 on Tuesday. The firm has a market capitalization of $20.52 billion, a PE ratio of 26.51 and a beta of 0.93. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.09 and a quick ratio of 1.54. STERIS plc has a 1-year low of $195.14 and a 1-year high of $269.44. The company’s fifty day moving average price is $216.98 and its 200-day moving average price is $238.63.

STERIS (NYSE:STE) last posted its earnings results on Monday, May 11th. The medical equipment provider reported $2.83 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 analyst estimates of $1.59 billion. During the same quarter in the prior year, the firm earned $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. On average, equities research analysts predict that STERIS plc will post 11.18 EPS for the current year.

STERIS Announces Dividend

The business also recently declared 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. This represents a $2.52 annualized dividend and a dividend yield of 1.2%. The ex-dividend date is Monday, June 8th. STERIS’s dividend payout ratio is 31.78%.

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.