STERIS plc (STE) to Issue Quarterly Dividend of $0.57 on September 20th

STERIS plc (NYSE:STE) announced a quarterly dividend on Wednesday, July 31st, Zacks reports. Investors of record on Thursday, September 5th will be given a dividend of 0.57 per share by the medical equipment provider on Friday, September 20th. This represents a $2.28 annualized dividend and a dividend yield of 0.96%. The ex-dividend date of this dividend is Thursday, September 5th. This is an increase from STERIS’s previous quarterly dividend of $0.52.

STERIS has raised its dividend by an average of 8.7% per year over the last three years and has increased its dividend every year for the last 19 years. STERIS has a dividend payout ratio of 20.7% meaning its dividend is sufficiently covered by earnings. Research analysts expect STERIS to earn $10.06 per share next year, which means the company should continue to be able to cover its $2.08 annual dividend with an expected future payout ratio of 20.7%.

STERIS Stock Down 1.9 %

Shares of NYSE:STE traded down $4.61 on Friday, hitting $236.40. 65,818 shares of the company traded hands, compared to its average volume of 479,520. The stock has a 50 day simple moving average of $223.88 and a 200-day simple moving average of $222.27. The company has a quick ratio of 2.36, a current ratio of 3.08 and a debt-to-equity ratio of 0.49. The company has a market cap of $23.37 billion, a PE ratio of 63.09 and a beta of 0.83. STERIS has a 52 week low of $195.47 and a 52 week high of $242.91.

STERIS (NYSE:STE) last released its quarterly earnings data on Wednesday, May 8th. The medical equipment provider reported $2.58 earnings per share for the quarter, beating analysts’ consensus estimates of $2.41 by $0.17. The business had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.41 billion. STERIS had a net margin of 6.95% and a return on equity of 13.73%. STERIS’s revenue was up 10.8% compared to the same quarter last year. During the same period last year, the business earned $2.30 EPS. As a group, research analysts expect that STERIS will post 9.25 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on STE shares. Needham & Company LLC reaffirmed a “hold” rating on shares of STERIS in a research report on Friday, May 10th. Piper Sandler reaffirmed a “neutral” rating and set a $225.00 price target (up previously from $220.00) on shares of STERIS in a report on Friday, May 10th. StockNews.com raised shares of STERIS from a “hold” rating to a “buy” rating in a report on Saturday, June 15th. Finally, JMP Securities restated a “market outperform” rating and issued a $265.00 target price on shares of STERIS in a report on Friday, July 26th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $241.60.

Insider Transactions at STERIS

In other STERIS news, Director Jacqueline B. Kosecoff sold 4,584 shares of STERIS stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $231.53, for a total transaction of $1,061,333.52. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other STERIS news, SVP Cary L. Majors sold 2,024 shares of the stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $232.13, for a total transaction of $469,831.12. Following the completion of the transaction, the senior vice president now owns 11,369 shares of the company’s stock, valued at approximately $2,639,085.97. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jacqueline B. Kosecoff sold 4,584 shares of the firm’s stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $231.53, for a total value of $1,061,333.52. The disclosure for this sale can be found here. Insiders sold 7,762 shares of company stock worth $1,798,477 in the last three months. Corporate insiders own 1.14% of the company’s stock.

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.