Swedbank AB Reduces Stock Position in STERIS plc $STE

Swedbank AB cut its holdings in STERIS plc (NYSE:STE) by 15.9% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 228,028 shares of the medical equipment provider’s stock after selling 43,050 shares during the period. Swedbank AB owned about 0.23% of STERIS worth $50,424,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. Trust Co. of Vermont raised its position in STERIS by 30.2% during the fourth quarter. Trust Co. of Vermont now owns 164 shares of the medical equipment provider’s stock valued at $42,000 after purchasing an additional 38 shares during the period. Bailard Inc. raised its holdings in STERIS by 3.5% during the 4th quarter. Bailard Inc. now owns 1,118 shares of the medical equipment provider’s stock valued at $283,000 after buying an additional 38 shares during the period. Magnolia Capital Advisors LLC raised its holdings in STERIS by 1.2% during the 3rd quarter. Magnolia Capital Advisors LLC now owns 3,588 shares of the medical equipment provider’s stock valued at $888,000 after buying an additional 41 shares during the period. Geneos Wealth Management Inc. lifted its position in STERIS by 34.9% in the second quarter. Geneos Wealth Management Inc. now owns 174 shares of the medical equipment provider’s stock worth $42,000 after buying an additional 45 shares during the last quarter. Finally, Ascent Group LLC boosted its stake in STERIS by 4.9% during the fourth quarter. Ascent Group LLC now owns 1,009 shares of the medical equipment provider’s stock worth $256,000 after buying an additional 47 shares during the period. Institutional investors own 94.69% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on STE. Wall Street Zen lowered shares of STERIS from a “strong-buy” rating to a “buy” rating in a report on Saturday, June 6th. KeyCorp decreased their price objective on shares of STERIS from $291.00 to $269.00 and set an “overweight” rating for the company in a research note on Wednesday, May 13th. Piper Sandler reaffirmed an “overweight” rating and set a $270.00 target price on shares of STERIS in a research note on Thursday, May 21st. Finally, Weiss Ratings lowered STERIS from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday, May 27th. 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, STERIS has an average rating of “Moderate Buy” and a consensus price target of $278.00.

Insider Buying and Selling at STERIS

In other STERIS news, VP John Adam Zangerle sold 1,419 shares of the stock in a transaction on Monday, June 15th. The stock was sold at an average price of $209.28, for a total transaction of $296,968.32. Following the sale, the vice president owned 35,259 shares of the company’s stock, valued at approximately $7,379,003.52. This trade represents a 3.87% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed 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 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 completion of the transaction, the director owned 38,964 shares in the company, valued at $8,163,347.64. This represents a 3.66% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 7,328 shares of company stock valued at $1,554,051. Company insiders own 1.12% of the company’s stock.

STERIS Stock Performance

Shares of NYSE:STE opened at $215.46 on Wednesday. The firm’s 50 day simple moving average is $211.58 and its 200-day simple moving average is $231.13. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.54 and a current ratio of 2.09. STERIS plc has a one year low of $195.14 and a one year high of $269.44. The firm has a market cap of $21.00 billion, a PE ratio of 27.17 and a beta of 0.92.

STERIS (NYSE:STE) last announced its quarterly earnings data 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 return on equity of 14.15% and a net margin of 13.18%.The firm had revenue of $1.59 billion during the quarter, compared to the consensus estimate of $1.59 billion. During the same period last year, the company earned $2.74 EPS. The firm’s revenue for the quarter 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, equities analysts predict that STERIS plc will post 11.18 EPS for the current year.

STERIS Dividend Announcement

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

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.