Arrowstreet Capital Limited Partnership Purchases 134,990 Shares of STERIS plc $STE

Arrowstreet Capital Limited Partnership boosted its position in STERIS plc (NYSE:STE) by 45.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 430,639 shares of the medical equipment provider’s stock after acquiring an additional 134,990 shares during the quarter. Arrowstreet Capital Limited Partnership’s holdings in STERIS were worth $109,176,000 at the end of the most recent reporting period.

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

STERIS Price Performance

STE stock opened at $205.80 on Tuesday. The firm has a market cap of $20.06 billion, a price-to-earnings ratio of 25.95 and a beta of 0.93. 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 12-month low of $195.14 and a 12-month high of $269.44. The company’s fifty day simple moving average is $215.83 and its 200 day simple moving average is $236.76.

STERIS (NYSE:STE) last released its 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). STERIS had a net margin of 13.18% and a return on equity of 14.15%. The firm had revenue of $1.59 billion during the quarter, compared to analyst estimates of $1.59 billion. During the same quarter in the previous year, the firm earned $2.74 EPS. STERIS’s quarterly revenue 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, analysts expect that STERIS plc will post 11.18 earnings per share for the current year.

STERIS Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 26th. Stockholders of record on Monday, June 8th will be issued a dividend of $0.63 per share. The ex-dividend date is Monday, June 8th. This represents a $2.52 annualized dividend and a dividend yield of 1.2%. STERIS’s dividend payout ratio is currently 31.78%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Weiss Ratings cut shares of STERIS from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday, May 27th. 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. Wall Street Zen cut shares of STERIS from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 6th. Finally, KeyCorp decreased their target price on shares of STERIS from $291.00 to $269.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 13th. Three equities research 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, STERIS currently has an average rating of “Moderate Buy” and an average target price of $278.00.

Insider Activity

In other news, Director Richard C. Breeden sold 1,481 shares of the company’s stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $209.51, for a total transaction of $310,284.31. Following the transaction, the director owned 38,964 shares in the company, valued at approximately $8,163,347.64. This represents a 3.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Daniel A. Carestio sold 3,054 shares of the company’s stock in a transaction dated 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 disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 5,909 shares of company stock worth $1,257,083 in the last quarter. Company insiders own 1.12% of the company’s stock.

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.