Insider Selling: STERIS (NYSE:STE) CEO Sells 3,054 Shares of Stock

STERIS plc (NYSE:STE) CEO Daniel Carestio sold 3,054 shares of the firm’s stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $214.64, for a total transaction of $655,510.56. Following the transaction, the chief executive officer owned 65,021 shares in the company, valued at $13,956,107.44. This represents a 4.49% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

STERIS Price Performance

Shares of NYSE STE traded down $2.16 during mid-day trading on Monday, reaching $210.19. 658,842 shares of the company traded hands, compared to its average volume of 798,173. STERIS plc has a fifty-two week low of $195.14 and a fifty-two week 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 firm has a market cap of $20.51 billion, a PE ratio of 26.51 and a beta of 0.93. The stock has a fifty day simple moving average of $217.24 and a 200-day simple moving average of $238.96.

STERIS (NYSE:STE) last posted its quarterly earnings results 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). The business had revenue of $1.59 billion during the quarter, compared to analyst estimates of $1.59 billion. STERIS had a return on equity of 14.15% and a net margin of 13.18%.The company’s quarterly revenue was up 6.7% compared to the same quarter last year. During the same quarter last year, the firm posted $2.74 EPS. 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 fiscal year.

STERIS Announces Dividend

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

Analyst Ratings Changes

Several research analysts have issued reports on the stock. Piper Sandler restated an “overweight” rating and issued a $270.00 price target on shares of STERIS in a research report on Thursday, May 21st. Wall Street Zen lowered shares of STERIS from a “strong-buy” rating to a “buy” rating in a research report on Saturday. Weiss Ratings lowered shares of STERIS from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, May 27th. Finally, KeyCorp decreased their price target on shares of STERIS from $291.00 to $269.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 13th. Three research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $278.00.

Hedge Funds Weigh In On STERIS

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in STE. Board of the Pension Protection Fund acquired a new position in STERIS in the 4th quarter worth approximately $25,000. Western Wealth Management LLC acquired a new position in STERIS in the 1st quarter worth approximately $25,000. Harbor Investment Advisory LLC boosted its stake in STERIS by 115.4% in the 4th quarter. Harbor Investment Advisory LLC now owns 112 shares of the medical equipment provider’s stock worth $28,000 after purchasing an additional 60 shares during the period. Activest Wealth Management boosted its stake in STERIS by 423.8% in the 4th quarter. Activest Wealth Management now owns 110 shares of the medical equipment provider’s stock worth $28,000 after purchasing an additional 89 shares during the period. Finally, Measured Wealth Private Client Group LLC acquired a new position in STERIS in the 4th quarter worth approximately $28,000. Institutional investors and hedge funds own 94.69% of the company’s stock.

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.