STERIS plc (NYSE:STE) Sees Large Decline in Short Interest

STERIS plc (NYSE:STE) was the target of a significant drop in short interest in the month of September. As of September 15th, there was short interest totalling 1,460,000 shares, a drop of 20.2% from the August 31st total of 1,830,000 shares. Approximately 1.5% of the shares of the company are short sold. Based on an average daily trading volume, of 435,800 shares, the short-interest ratio is currently 3.4 days.

Insider Activity at STERIS

In other STERIS news, CFO Michael J. Tokich sold 23,332 shares of the firm’s stock in a transaction dated 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 transaction, the chief financial officer now owns 42,930 shares in the company, valued at $10,603,710. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CFO Michael J. Tokich sold 23,332 shares of STERIS stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $247.00, for a total value of $5,763,004.00. Following the completion of the transaction, the chief financial officer now owns 42,930 shares in the company, valued at $10,603,710. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Christopher S. Holland sold 473 shares of STERIS stock in a transaction that occurred 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 completion of the transaction, the director now owns 582 shares of the company’s stock, valued at approximately $139,493.76. The disclosure for this sale can be found here. 1.14% of the stock is owned by corporate insiders.

Institutional Trading of STERIS

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in STERIS by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 11,864,606 shares of the medical equipment provider’s stock valued at $2,608,434,000 after purchasing an additional 53,526 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in STERIS by 13.7% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 6,442,805 shares of the medical equipment provider’s stock valued at $1,414,453,000 after purchasing an additional 778,613 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in STERIS by 7.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,738,630 shares of the medical equipment provider’s stock valued at $390,880,000 after purchasing an additional 120,616 shares during the last quarter. Sustainable Growth Advisers LP raised its stake in shares of STERIS by 23.5% during the first quarter. Sustainable Growth Advisers LP now owns 1,485,578 shares of the medical equipment provider’s stock valued at $333,988,000 after acquiring an additional 282,387 shares during the last quarter. Finally, Impax Asset Management Group plc raised its stake in shares of STERIS by 29.7% during the second quarter. Impax Asset Management Group plc now owns 1,150,517 shares of the medical equipment provider’s stock valued at $251,663,000 after acquiring an additional 263,383 shares during the last quarter. Institutional investors own 94.69% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on STE. StockNews.com raised shares of STERIS from a “hold” rating to a “buy” rating in a report on Tuesday, August 13th. Stephens reissued an “overweight” rating and issued a $260.00 price target on shares of STERIS in a report on Wednesday, August 7th. Needham & Company LLC reaffirmed a “hold” rating on shares of STERIS in a report on Thursday, August 8th. KeyCorp lifted their target price on shares of STERIS from $255.00 to $265.00 and gave the stock an “overweight” rating in a report on Tuesday, September 3rd. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $265.00 target price on shares of STERIS in a report on Wednesday, August 7th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $246.00.

STERIS Trading Up 1.0 %

Shares of STE stock traded up $2.30 on Friday, hitting $239.05. The stock had a trading volume of 312,283 shares, compared to its average volume of 471,975. The firm has a market cap of $23.58 billion, a P/E ratio of 62.58 and a beta of 0.83. STERIS has a twelve month low of $195.47 and a twelve month high of $248.24. The company has a fifty day moving average price of $237.51 and a two-hundred day moving average price of $225.71. The company has a current ratio of 2.33, a quick ratio of 1.49 and a debt-to-equity ratio of 0.35.

STERIS (NYSE:STE) last issued its quarterly earnings results on Tuesday, August 6th. The medical equipment provider reported $2.14 EPS for the quarter, topping the consensus estimate of $1.98 by $0.16. STERIS had a net margin of 7.36% and a return on equity of 13.85%. The firm had revenue of $1.28 billion for the quarter, compared to analysts’ expectations of $1.27 billion. During the same period in the previous year, the firm posted $2.00 EPS. The company’s revenue for the quarter was down .4% on a year-over-year basis. As a group, analysts forecast that STERIS will post 9.05 earnings per share for the current fiscal year.

STERIS Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 20th. Investors of record on Thursday, September 5th were paid a $0.57 dividend. The ex-dividend date was Thursday, September 5th. This represents a $2.28 dividend on an annualized basis and a yield of 0.95%. This is a positive change from STERIS’s previous quarterly dividend of $0.52. STERIS’s dividend payout ratio is 59.69%.

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.