Sumitomo Mitsui Trust Group Inc. Has $46.15 Million Stock Holdings in STERIS plc $STE

Sumitomo Mitsui Trust Group Inc. lessened its holdings in STERIS plc (NYSE:STE) by 4.8% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 208,697 shares of the medical equipment provider’s stock after selling 10,552 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in STERIS were worth $46,149,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Board of the Pension Protection Fund acquired a new stake in STERIS in the 4th quarter worth about $25,000. Activest Wealth Management increased its holdings in shares of STERIS by 423.8% during the fourth 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. Measured Wealth Private Client Group LLC bought a new position in shares of STERIS during the fourth quarter worth approximately $28,000. Harbor Investment Advisory LLC raised its position in shares of STERIS by 115.4% in the fourth quarter. Harbor Investment Advisory LLC now owns 112 shares of the medical equipment provider’s stock valued at $28,000 after buying an additional 60 shares in the last quarter. Finally, Cornerstone Planning Group LLC boosted its stake in shares of STERIS by 342.3% in the fourth quarter. Cornerstone Planning Group LLC now owns 115 shares of the medical equipment provider’s stock valued at $30,000 after buying an additional 89 shares during the period. 94.69% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

STERIS Price Performance

Shares of NYSE:STE opened at $215.76 on Monday. The firm has a 50 day moving average of $211.31 and a 200-day moving average of $230.29. STERIS plc has a 12 month low of $195.14 and a 12 month high of $269.44. The company has a current ratio of 2.09, a quick ratio of 1.54 and a debt-to-equity ratio of 0.25. The stock has a market capitalization of $21.03 billion, a PE ratio of 27.21 and a beta of 0.92.

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 firm had revenue of $1.59 billion for 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 business’s revenue was up 6.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.74 EPS. STERIS has set its FY 2027 guidance at 11.100-11.300 EPS. On average, equities research analysts predict 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 was paid on Friday, June 26th. Stockholders of record on Monday, June 8th were paid a $0.63 dividend. The ex-dividend date was Monday, June 8th. This represents a $2.52 annualized dividend and a dividend yield of 1.2%. STERIS’s dividend payout ratio (DPR) is presently 31.78%.

Insider Transactions at STERIS

In related news, Director Richard C. Breeden sold 1,481 shares of the company’s stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $209.51, for a total transaction of $310,284.31. Following the completion of the sale, the director directly owned 38,964 shares in the company, valued at $8,163,347.64. This represents a 3.66% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Daniel A. Carestio sold 3,054 shares of the firm’s stock in a transaction dated Thursday, June 4th. The shares were 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 in the company, valued at $13,956,107.44. This trade represents a 4.49% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 7,328 shares of company stock valued at $1,554,051. Corporate insiders own 1.12% of the company’s stock.

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.