Steris PLC (NYSE:STE) Short Interest Update

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Steris PLC (NYSE:STE) was the recipient of a large decline in short interest in August. As of August 31st, there was short interest totalling 1,560,200 shares, a decline of 19.8% from the July 31st total of 1,946,300 shares. Based on an average trading volume of 531,200 shares, the short-interest ratio is currently 2.9 days. Approximately 1.9% of the company’s stock are short sold.

Separately, JMP Securities upped their target price on Steris from $135.00 to $150.00 and gave the company a “market outperform” rating in a research report on Wednesday, May 22nd. Five investment analysts have rated the stock with a buy rating, The company presently has a consensus rating of “Buy” and an average target price of $148.20.

In other Steris news, insider Michael J. Tokich sold 22,000 shares of the company’s stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of $143.70, for a total value of $3,161,400.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Renato Tamaro sold 2,065 shares of the company’s stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $153.15, for a total value of $316,254.75. The disclosure for this sale can be found here. Insiders have sold a total of 151,175 shares of company stock worth $22,688,470 over the last three months. 2.36% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently made changes to their positions in the business. Comerica Securities Inc. raised its position in shares of Steris by 22.4% during the 4th quarter. Comerica Securities Inc. now owns 4,271 shares of the medical equipment provider’s stock valued at $456,000 after acquiring an additional 782 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Steris by 8.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 652,757 shares of the medical equipment provider’s stock valued at $69,740,000 after acquiring an additional 49,010 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Steris by 7.1% during the 4th quarter. Geode Capital Management LLC now owns 827,744 shares of the medical equipment provider’s stock valued at $88,444,000 after acquiring an additional 54,537 shares in the last quarter. SG Americas Securities LLC raised its position in shares of Steris by 3.4% during the 1st quarter. SG Americas Securities LLC now owns 7,118 shares of the medical equipment provider’s stock valued at $911,000 after acquiring an additional 231 shares in the last quarter. Finally, Sigma Planning Corp bought a new position in Steris during the 1st quarter worth $228,000. 88.04% of the stock is currently owned by institutional investors.

Shares of STE traded down $3.82 during trading on Friday, reaching $144.12. The company’s stock had a trading volume of 636,100 shares, compared to its average volume of 477,779. The company has a fifty day moving average of $151.06 and a two-hundred day moving average of $137.92. Steris has a twelve month low of $99.14 and a twelve month high of $156.66. The company has a market cap of $11.99 billion, a price-to-earnings ratio of 29.47 and a beta of 0.94. The company has a quick ratio of 1.87, a current ratio of 2.41 and a debt-to-equity ratio of 0.40.

Steris (NYSE:STE) last announced its earnings results on Monday, August 5th. The medical equipment provider reported $1.23 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.11 by $0.12. Steris had a return on equity of 13.80% and a net margin of 11.22%. The company had revenue of $696.80 million for the quarter, compared to analyst estimates of $674.12 million. During the same period in the prior year, the company posted $1.00 EPS. Steris’s quarterly revenue was up 9.1% on a year-over-year basis. As a group, equities analysts forecast that Steris will post 5.46 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 26th. Shareholders of record on Tuesday, September 10th will be given a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.03%. This is a positive change from Steris’s previous quarterly dividend of $0.34. The ex-dividend date of this dividend is Monday, September 9th. Steris’s dividend payout ratio is presently 30.27%.

Steris Company Profile

STERIS plc provides infection prevention and other procedural products and services worldwide. The company operates in four segments: Healthcare Products, Healthcare Specialty Services, Life Sciences, and Applied Sterilization Technologies. The Healthcare Products segment offers cleaning chemistries and sterility assurance products; accessories for gastrointestinal (GI) procedures, washers, sterilizers, and other pieces of capital equipment for the operations of a sterile processing department; and equipment used in the operating room, including surgical tables, lights, equipment management services, and connectivity solutions.

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