STERIS plc (NYSE:STE) to Issue $0.57 Quarterly Dividend

STERIS plc (NYSE:STE) declared a quarterly dividend on Wednesday, October 30th, Zacks reports. Investors of record on Tuesday, November 19th will be given a dividend of 0.57 per share by the medical equipment provider on Thursday, December 19th. This represents a $2.28 annualized dividend and a yield of 1.03%. The ex-dividend date is Tuesday, November 19th.

STERIS has raised its dividend payment by an average of 8.7% annually over the last three years and has increased its dividend annually for the last 20 consecutive years. STERIS has a payout ratio of 22.6% meaning its dividend is sufficiently covered by earnings. Analysts expect STERIS to earn $9.86 per share next year, which means the company should continue to be able to cover its $2.28 annual dividend with an expected future payout ratio of 23.1%.

STERIS Stock Down 1.2 %

STERIS stock opened at $221.80 on Friday. STERIS has a fifty-two week low of $195.47 and a fifty-two week high of $248.24. The stock has a market cap of $21.87 billion, a PE ratio of 55.04 and a beta of 0.84. The firm’s 50-day simple moving average is $233.94 and its 200 day simple moving average is $226.68. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.49 and a current ratio of 2.33.

STERIS (NYSE:STE) last released its quarterly earnings results on Tuesday, August 6th. The medical equipment provider reported $2.14 earnings per share for the quarter, topping the consensus estimate of $1.98 by $0.16. The business had revenue of $1.28 billion for the quarter, compared to analysts’ expectations of $1.27 billion. STERIS had a net margin of 7.36% and a return on equity of 13.85%. The firm’s revenue for the quarter was down .4% compared to the same quarter last year. During the same period in the previous year, the company earned $2.00 earnings per share. Research analysts predict that STERIS will post 9.02 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts have commented on STE shares. KeyCorp lifted their price objective on shares of STERIS from $255.00 to $265.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 3rd. Piper Sandler raised shares of STERIS from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $230.00 to $260.00 in a research report on Thursday, October 24th. JMP Securities reaffirmed a “market outperform” rating and issued a $265.00 price objective on shares of STERIS in a research report on Wednesday, August 7th. Needham & Company LLC reissued a “hold” rating on shares of STERIS in a research report on Thursday, August 8th. Finally, Stephens reissued an “overweight” rating and issued a $260.00 price target on shares of STERIS in a research report on Wednesday, August 7th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, STERIS presently has an average rating of “Moderate Buy” and a consensus target price of $253.00.

Insider Activity

In other news, Director Christopher S. Holland sold 473 shares of the company’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $239.68, for a total value of $113,368.64. Following the completion of the sale, the director now owns 582 shares of the company’s stock, valued at approximately $139,493.76. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CFO Michael J. Tokich sold 23,332 shares of the company’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $247.00, for a total transaction of $5,763,004.00. Following the completion of the sale, the chief financial officer now directly owns 42,930 shares in the company, valued at $10,603,710. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Christopher S. Holland sold 473 shares of the company’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $239.68, for a total transaction of $113,368.64. Following the sale, the director now owns 582 shares of the company’s stock, valued at $139,493.76. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.14% of the stock is owned by corporate insiders.

STERIS Company Profile

STERIS plc provides infection prevention products and services worldwide. It operates through four segments: Healthcare, Applied Sterilization Technologies, Life Sciences, and Dental. The Healthcare segment offers cleaning chemistries and sterility assurance products; automated endoscope reprocessing system and tracking products; endoscopy accessories, washers, sterilizers, and other pieces of capital equipment for the operation of a sterile processing department; and equipment used directly in the operating room, including surgical tables, lights, and connectivity solutions, as well as equipment management services.