Meeder Asset Management Inc. Trims Position in STERIS plc $STE

Meeder Asset Management Inc. lowered its stake in shares of STERIS plc (NYSE:STE) by 94.5% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,475 shares of the medical equipment provider’s stock after selling 42,315 shares during the quarter. Meeder Asset Management Inc.’s holdings in STERIS were worth $612,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Citizens Financial Group Inc. RI purchased a new position in shares of STERIS in the 3rd quarter valued at approximately $238,000. New York State Teachers Retirement System grew its position in STERIS by 2.7% in the 3rd quarter. New York State Teachers Retirement System now owns 81,749 shares of the medical equipment provider’s stock valued at $20,228,000 after buying an additional 2,142 shares during the last quarter. Bayforest Capital Ltd increased its stake in STERIS by 112.8% in the 3rd quarter. Bayforest Capital Ltd now owns 3,628 shares of the medical equipment provider’s stock valued at $898,000 after buying an additional 1,923 shares during the period. Forum Financial Management LP raised its position in STERIS by 38.4% during the 3rd quarter. Forum Financial Management LP now owns 2,324 shares of the medical equipment provider’s stock worth $575,000 after buying an additional 645 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund lifted its stake in shares of STERIS by 33.0% in the 3rd quarter. Oregon Public Employees Retirement Fund now owns 11,252 shares of the medical equipment provider’s stock worth $2,784,000 after acquiring an additional 2,793 shares during the period. 94.69% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “buy (b)” rating on shares of STERIS in a research note on Friday. Seven research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $273.50.

STERIS Price Performance

Shares of NYSE STE opened at $260.61 on Tuesday. The company’s fifty day moving average is $257.99 and its two-hundred day moving average is $246.01. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.63 and a current ratio of 2.37. The firm has a market capitalization of $25.58 billion, a P/E ratio of 37.44 and a beta of 1.03. STERIS plc has a one year low of $204.28 and a one year high of $268.60.

STERIS (NYSE:STE) last released its quarterly earnings data on Wednesday, November 5th. The medical equipment provider reported $2.47 EPS for the quarter, topping analysts’ consensus estimates of $2.38 by $0.09. STERIS had a net margin of 12.07% and a return on equity of 14.43%. The firm had revenue of $1.46 billion for the quarter, compared to the consensus estimate of $1.43 billion. During the same quarter in the previous year, the firm earned $2.14 earnings per share. STERIS has set its FY 2026 guidance at 10.150-10.30 EPS. Analysts forecast that STERIS plc will post 9.08 EPS for the current fiscal year.

STERIS Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 18th. Investors of record on Tuesday, November 18th were issued a dividend of $0.63 per share. The ex-dividend date of this dividend was Tuesday, November 18th. This represents a $2.52 annualized dividend and a yield of 1.0%. STERIS’s payout ratio is currently 36.21%.

Insiders Place Their Bets

In other STERIS news, VP John Adam Zangerle sold 15,000 shares of the business’s stock in a transaction on Tuesday, November 11th. The stock was sold at an average price of $265.14, for a total transaction of $3,977,100.00. Following the sale, the vice president directly owned 33,669 shares in the company, valued at approximately $8,926,998.66. The trade was a 30.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Renato Tamaro sold 5,036 shares of the company’s stock in a transaction on Tuesday, November 18th. The shares were sold at an average price of $257.55, for a total value of $1,297,021.80. Following the completion of the sale, the vice president directly owned 5,695 shares in the company, valued at $1,466,747.25. This trade represents a 46.93% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 25,044 shares of company stock worth $6,586,218. 1.07% of the stock is owned by corporate insiders.

About STERIS

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.