Pre-earnings brief
Reports
Wed, Nov 4, 2026
Est. EPS
—
Est. revenue
—
Implied move
±6.1%
EPS beat rate
75%
STERIS plc is a leading provider of health care equipment and services, focusing on sterilization and infection prevention. With a market cap of $20 billion, the company plays a crucial role in the health care sector, especially as demand for medical equipment continues to grow amid ongoing health challenges.
Last quarter
In the last quarter, STERIS reported an EPS of $2.59, beating estimates by nearly 2%. However, the stock experienced a slight decline the following day, indicating mixed investor sentiment.
EPS beat streak
1Q
EPS beat rate
75%
Avg EPS surprise
+1.67%
Avg 1-day reaction
-0.41%
Overall, expectations for STERIS's upcoming earnings are uncertain, with no analyst estimates available. Investors are keen to see if the company can maintain its positive EPS trend.
Bull case
If STERIS continues to beat EPS estimates and shows strong revenue growth, it could signal robust demand for its products, leading to a positive market reaction.
Bear case
Conversely, if the company fails to meet expectations or provides weak guidance, it may raise concerns about its growth prospects, potentially leading to a sell-off.
The print will turn on these.
Q1
What will the EPS be for Q2-2027?
EPS is a critical measure of profitability, and any significant deviation from expectations could impact investor sentiment.
Q2
What are the revenue growth projections for the upcoming quarters?
Understanding revenue growth will help gauge the company's ability to capitalize on market opportunities and sustain its competitive edge.
—
Est. EPS
$-0.50
Est. Rev
$257M
Impl. Move
±8.7%
Why consensus could be wrong
The Street may be underestimating STERIS's ability to leverage recent innovations in health care technology, which could drive stronger-than-expected revenue growth.
Supporting evidence
Historical EPS surprises indicate a 75% beat rate, suggesting the potential for positive surprises.
The options market is pricing a 6.1% move, indicating expectations of volatility that may not align with historical performance.
Recent insider selling may suggest caution, but it could also reflect profit-taking rather than a lack of confidence in the company's future.
Key risk
If STERIS reports an EPS significantly above $2.70, it could shift market sentiment dramatically.
Pre-commit to what would confirm each case.
This quarter's performance is crucial as it will indicate whether STERIS can maintain its growth momentum in a competitive health care market.
Bull confirmed if
An EPS of $2.70 or higher would confirm strong operational performance and investor confidence.
Bear confirmed if
An EPS below $2.50 would raise concerns about the company's growth trajectory and profitability.
What the market is pricing for the move.
Implied Move
±6.1%
Historical Avg
±1.0%
The options market is pricing in a significant potential move, suggesting that investors expect volatility around the earnings announcement.
Options are pricing ±6.1% while STE has averaged ±1.0% over the last 8 prints — setup is pricing rich.
ATM IV
0.3%
30d HV
16.0%
Smart-money positioning from the most recent 13F filings.
Institutional
100.75%
of float
Insider
0.31%
of float
Holders
1,218
institutions
Top Holders· as of Jun 2026
Blackrock Inc.
8,820,889 sh · $1.8B
9.05%
-2.3%
Likely market behavior by outcome. Not investment advice.
Beat & raise
If STERIS beats expectations, history suggests a potential stock increase of around 0.99%, confirming positive market sentiment.
In line / cautious
If results are in line with expectations, the stock may experience minimal movement, reflecting cautious investor sentiment.
Miss
A miss could lead to a decline of approximately 0.85%, indicating disappointment among investors.
House and Senate STOCK Act disclosures over the trailing 6 months.
Trades
12
5 buys·7 sells
Members
4
House only
Est. Notional
$125,012.00–$450,000.00
disclosed dollar ranges
Most Active Members
6 trades
The lines on the call that would change the story.
Vanguard Capital Management LLC
6,406,906 sh · $1.3B
6.57%
0.6%
State Street Corporation
5,072,818 sh · $1.1B
5.20%
1.6%
Vanguard Portfolio Management LLC
5,001,950 sh · $1.0B
5.13%
1.1%
Morgan Stanley
3,950,067 sh · $828.3M
4.05%
-10.1%
13F filings updated quarterly. Position deltas show change in shares vs. the prior quarter.
Mixed
4 trades
Net buying
1 trade
Net selling
1 trade
Net selling
Recent Transactions
Traded Sep 15, 2026 · disclosed Sep 25, 2026
$15,001.00–$50,000.00
Traded Aug 25, 2026 · disclosed Sep 9, 2026
$100,001.00–$250,000.00
Traded Jul 31, 2026 · disclosed Aug 3, 2026
$1,001.00–$15,000.00
Traded Jul 29, 2026 · disclosed Aug 3, 2026
$1,001.00–$15,000.00
Traded Jul 27, 2026 · disclosed Aug 3, 2026
$1,001.00–$15,000.00
Filed 30–45+ days after the trade. Treat as positional context, not a leading indicator. Amounts are SEC-mandated dollar ranges, not exact values.