STERIS plc Announces Quarterly Dividend of $0.57 (NYSE:STE)

STERIS plc (NYSE:STE) declared a quarterly dividend on Wednesday, October 30th,Zacks Dividends reports. Stockholders of record on Tuesday, November 19th will be paid a dividend of 0.57 per share by the medical equipment provider on Thursday, December 19th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 1.04%. 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 raised its dividend every year for the last 20 years. STERIS has a payout ratio of 22.6% indicating that its dividend is sufficiently covered by earnings. Analysts expect STERIS to earn $9.93 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 23.0%.

STERIS Trading Down 0.5 %

Shares of STE stock opened at $220.12 on Monday. The company has a quick ratio of 1.55, a current ratio of 2.41 and a debt-to-equity ratio of 0.33. The firm has a market capitalization of $21.73 billion, a P/E ratio of 50.26 and a beta of 0.85. STERIS has a twelve month low of $195.47 and a twelve month high of $248.24. The stock’s fifty day simple moving average is $230.37 and its 200 day simple moving average is $228.42.

STERIS (NYSE:STE) last issued its quarterly earnings results on Wednesday, November 6th. The medical equipment provider reported $2.14 earnings per share for the quarter, topping analysts’ consensus estimates of $2.12 by $0.02. The firm had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.33 billion. STERIS had a return on equity of 13.78% and a net margin of 8.02%. The business’s revenue was up 7.3% compared to the same quarter last year. During the same period last year, the business posted $2.03 EPS. As a group, sell-side analysts predict that STERIS will post 9.15 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on STE shares. KeyCorp boosted their price target on STERIS from $255.00 to $265.00 and gave the company an “overweight” rating in a research note on Tuesday, September 3rd. Needham & Company LLC reissued a “hold” rating on shares of STERIS in a research note on Friday, November 8th. StockNews.com downgraded shares of STERIS from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, October 29th. JMP Securities reissued a “market outperform” rating and set a $265.00 price objective on shares of STERIS in a research report on Wednesday, August 7th. Finally, Piper Sandler raised STERIS from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $230.00 to $260.00 in a research note on Thursday, October 24th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $253.00.

Insider Transactions at STERIS

In related 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 sale, the chief financial officer now owns 42,930 shares of the company’s stock, valued at approximately $10,603,710. The trade was a 35.21 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company 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.