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.
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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