Hsbc Holdings PLC Has $9.94 Million Position in STERIS plc $STE

Hsbc Holdings PLC lessened its stake in shares of STERIS plc (NYSE:STE) by 9.5% during the fourth quarter, Holdings Channel reports. The fund owned 38,965 shares of the medical equipment provider’s stock after selling 4,094 shares during the quarter. Hsbc Holdings PLC’s holdings in STERIS were worth $9,943,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Nordea Investment Management AB grew its stake in shares of STERIS by 259.0% in the 4th quarter. Nordea Investment Management AB now owns 51,602 shares of the medical equipment provider’s stock valued at $13,165,000 after buying an additional 37,228 shares during the period. Goldman Sachs Group Inc. increased its position in STERIS by 40.8% in the 4th quarter. Goldman Sachs Group Inc. now owns 633,530 shares of the medical equipment provider’s stock valued at $160,613,000 after buying an additional 183,680 shares in the last quarter. Legal & General Group Plc raised its stake in STERIS by 5.3% during the 3rd quarter. Legal & General Group Plc now owns 693,116 shares of the medical equipment provider’s stock worth $171,505,000 after buying an additional 34,981 shares during the period. Cerity Partners LLC raised its stake in STERIS by 116.7% during the 4th quarter. Cerity Partners LLC now owns 209,923 shares of the medical equipment provider’s stock worth $53,220,000 after buying an additional 113,070 shares during the period. Finally, Groupama Asset Managment bought a new position in STERIS in the third quarter worth approximately $1,163,000. 94.69% of the stock is owned by institutional investors.

Insider Activity at STERIS

In related news, CEO Daniel A. Carestio sold 3,054 shares of the stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $214.64, for a total value of $655,510.56. Following the completion of the sale, the chief executive officer directly owned 65,021 shares of the company’s stock, valued at approximately $13,956,107.44. This represents a 4.49% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Richard C. Breeden sold 1,481 shares of the 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 sale, the director directly owned 38,964 shares of the company’s stock, valued at $8,163,347.64. The trade was a 3.66% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 7,328 shares of company stock valued at $1,554,051 over the last 90 days. Insiders own 1.12% of the company’s stock.

STERIS Trading Down 2.8%

STE opened at $209.34 on Thursday. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.09 and a quick ratio of 1.54. STERIS plc has a fifty-two week low of $195.14 and a fifty-two week high of $269.44. The firm has a market capitalization of $20.40 billion, a PE ratio of 26.40 and a beta of 0.92. The company’s 50-day moving average is $211.32 and its 200 day moving average is $230.83.

STERIS (NYSE:STE) last announced its quarterly earnings results on Monday, May 11th. The medical equipment provider reported $2.83 earnings per share 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 the consensus estimate of $1.59 billion. STERIS had a net margin of 13.18% and a return on equity of 14.15%. STERIS’s revenue was up 6.7% compared to the same quarter last year. During the same period in the previous year, the business posted $2.74 EPS. STERIS has set its FY 2027 guidance at 11.100-11.300 EPS. As a group, research analysts predict that STERIS plc will post 11.18 earnings per share for the current fiscal year.

STERIS Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 26th. Stockholders of record on Monday, June 8th were issued a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date was Monday, June 8th. STERIS’s dividend payout ratio (DPR) is currently 31.78%.

Analysts Set New Price Targets

A number of equities research analysts have commented on STE shares. KeyCorp reduced their price objective on STERIS from $291.00 to $269.00 and set an “overweight” rating for the company in a research note on Wednesday, May 13th. Weiss Ratings lowered STERIS from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, May 27th. Wall Street Zen cut STERIS from a “strong-buy” rating to a “buy” rating in a report on Saturday, June 6th. Finally, Piper Sandler reissued an “overweight” rating and issued a $270.00 price target on shares of STERIS in a research report on Thursday, May 21st. Three investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $278.00.

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.