Sustainable Growth Advisers 13F: Cuts STERIS (STE) Stake by $29M

Sustainable Growth Advisers trimmed its investment in STERIS plc (NYSE:STE) during the period, according to a Form 13F regulatory filing with the SEC. Institutional investors use these quarterly reports to disclose portfolio adjustments, though the filings look backward and may not reflect current holdings.

What Changed in Sustainable Growth Advisers's STERIS Position

Sustainable Growth Advisers cut its holdings by 137,485 shares, which worked out to a 36.6% decrease from the previous quarter. The fund ended the filing period with 237,752 shares of the medical device company. The remaining stake had a reported value of $49,930,297.

Other Institutional Activity in STERIS

Other large institutional investors also tweaked their positions in STERIS around the same time. Blackrock Inc. reduced its holdings by 205,809 shares, ending with 8,820,889 shares worth about $1,964,059,177. Vanguard Capital Management LLC grew its holdings by 40,743 shares, ending with 6,406,906 shares worth about $1,426,561,713. State Street Corporation added 80,870 shares to own 5,072,818 shares valued at approximately $1,129,513,674. Vanguard Portfolio Management LLC lifted its stake by 51,975 shares to finish with 5,001,950 shares worth about $1,113,734,205. Meanwhile, Morgan Stanley cut its position by 444,267 shares, holding 3,950,067 shares worth roughly $879,521,932.

STERIS plc Stock Down 1.3%

STERIS shares recently traded around $221.43 as of October 16, 2026. The stock sits about 2.2% below its 200-day moving average and roughly 17.8% under its 52-week high of $269.44. The company has a market capitalization of roughly $21.7 billion and a trailing price-to-earnings ratio of 27.22.

Recent Earnings

For its trailing twelve months, STERIS reported $6,037,499,904 in revenue and earnings of $8.18 per share. The company posted a net profit margin of 13.3% and a return on equity of 11.4%. Year-over-year revenue grew by 7.3%. The company's next earnings report is scheduled for November 4, 2026.

Dividend

STERIS pays an annual dividend of $2.58 per share, giving the stock a dividend yield of 1.15%. The payout ratio sits at 30.8% of earnings, indicating the dividend is well-covered by profits.

Insider Buying and Selling at STERIS plc

Company insiders executed several transactions prior to the filing. Director Richard C. Breeden sold 1,481 shares on June 2, 2026, at an average price of $209.51 for a total of $310,284. Chief Executive Officer Daniel A Carestio sold 4,428 shares on June 5, 2026, valued at $946,799. General Counsel John Adam Zangerle sold 1,419 shares on June 15, 2026, at $209.28 per share for a total of $296,968. Director Mohsen M Sohi sold 4,058 shares on August 12, 2026, at $235.78 per share, totaling $956,795.

Analysts Set New Price Targets

Wall Street analysts have updated their views on the stock in recent months. On July 28, 2026, UBS initiated coverage with a buy rating and a $275.00 price target. UBS later maintained that buy rating on August 7, 2026, while lowering its target to $270.00. Piper Sandler reiterated an overweight rating on August 7, 2026, raising its price target to $275.00 from $270.00. Overall, the stock carries a consensus buy rating with a mean price target of $262.14 based on 7 analyst opinions.

About STERIS

STERIS plc is a global provider of infection prevention and other procedural products and services. Headquartered in Mentor, Ohio, the company operates across healthcare, applied sterilization technologies, and life sciences markets, supplying hospitals and medical device manufacturers with essential sterilization and cleaning equipment.

Bottom Line

Sustainable Growth Advisers lowered its exposure to STERIS over the course of the quarter, reflecting shifting allocations among large funds. Investors will look toward the company's upcoming earnings release on November 4, 2026, for fresh updates on financial performance.