Public Employees Retirement System of Ohio Makes New Investment in STERIS plc $STE

Public Employees Retirement System of Ohio purchased a new stake in shares of STERIS plc (NYSE:STE) during the 2nd quarter, Holdings Channel reports. The fund purchased 54,849 shares of the medical equipment provider’s stock, valued at approximately $11,550,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in STE. Goldman Sachs Group Inc. grew its position in STERIS by 40.8% during the 4th quarter. Goldman Sachs Group Inc. now owns 633,530 shares of the medical equipment provider’s stock worth $160,613,000 after acquiring an additional 183,680 shares during the last quarter. Kornitzer Capital Management Inc. KS bought a new stake in shares of STERIS during the first quarter worth about $5,506,000. Cerity Partners LLC increased its stake in shares of STERIS by 116.7% in the fourth quarter. Cerity Partners LLC now owns 209,923 shares of the medical equipment provider’s stock valued at $53,220,000 after buying an additional 113,070 shares during the period. Eventide Asset Management LLC raised its holdings in STERIS by 8.8% in the 4th quarter. Eventide Asset Management LLC now owns 190,483 shares of the medical equipment provider’s stock valued at $48,326,000 after buying an additional 15,416 shares during the last quarter. Finally, Strs Ohio boosted its position in STERIS by 9.5% during the 1st quarter. Strs Ohio now owns 71,748 shares of the medical equipment provider’s stock worth $15,866,000 after buying an additional 6,196 shares during the period. Institutional investors own 94.69% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on STE. Wall Street Zen raised shares of STERIS from a “hold” rating to a “buy” rating in a report on Sunday, August 9th. Piper Sandler reiterated an “overweight” rating and issued a $275.00 price target (up from $270.00) on shares of STERIS in a research report on Friday, August 7th. Weiss Ratings restated a “hold (c)” rating on shares of STERIS in a research report on Monday, August 24th. UBS Group lowered their price target on shares of STERIS from $275.00 to $270.00 and set a “buy” rating for the company in a report on Friday, August 7th. Finally, KeyCorp reduced their price objective 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 investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $271.33.

STERIS Trading Down 0.1%

STE opened at $233.52 on Monday. STERIS plc has a 1-year low of $195.14 and a 1-year high of $269.44. The company has a current ratio of 1.91, a quick ratio of 1.35 and a debt-to-equity ratio of 0.23. The company has a market cap of $22.77 billion, a P/E ratio of 28.55 and a beta of 0.91. The company has a fifty day moving average price of $223.17 and a two-hundred day moving average price of $222.70.

STERIS (NYSE:STE) last released its quarterly earnings data on Wednesday, August 5th. The medical equipment provider reported $2.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.49 by $0.10. The company had revenue of $1.49 billion for the quarter, compared to analysts’ expectations of $1.49 billion. STERIS had a net margin of 13.34% and a return on equity of 14.34%. The business’s revenue was up 7.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.34 EPS. STERIS has set its FY 2027 guidance at 11.000-11.300 EPS. Analysts predict that STERIS plc will post 11.09 EPS for the current fiscal year.

STERIS Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Friday, September 4th will be issued a $0.69 dividend. The ex-dividend date is Friday, September 4th. This is an increase from STERIS’s previous quarterly dividend of $0.63. This represents a $2.76 annualized dividend and a yield of 1.2%. STERIS’s dividend payout ratio is currently 30.81%.

Insider Transactions at STERIS

In other news, VP John Adam Zangerle sold 1,419 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the vice president owned 35,259 shares in the company, valued at $7,379,003.52. The trade was a 3.87% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Mohsen Sohi sold 4,058 shares of the company’s stock in a transaction that occurred on Wednesday, August 12th. The stock was sold at an average price of $235.78, for a total value of $956,795.24. Following the transaction, the director directly owned 24,305 shares in the company, valued at $5,730,632.90. The trade was a 14.31% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 11,386 shares of company stock worth $2,510,846. 1.12% of the stock is currently owned by insiders.

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.