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

STERIS plc (NYSE:STE) announced a quarterly dividend on Tuesday, January 28th,RTT News reports. Stockholders of record on Thursday, February 20th will be paid a dividend of 0.57 per share by the medical equipment provider on Friday, March 21st. This represents a $2.28 annualized dividend and a dividend yield of 1.03%.

STERIS has raised its dividend payment by an average of 9.5% per year over the last three years. STERIS has a payout ratio of 20.9% indicating that its dividend is sufficiently covered by earnings. Research analysts expect STERIS to earn $10.05 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 22.7%.

STERIS Stock Performance

Shares of NYSE:STE opened at $221.28 on Wednesday. STERIS has a 12 month low of $197.82 and a 12 month high of $248.24. The company has a current ratio of 2.41, a quick ratio of 1.55 and a debt-to-equity ratio of 0.33. The company has a market capitalization of $21.84 billion, a price-to-earnings ratio of 50.52 and a beta of 0.84. The firm’s 50-day moving average is $211.74 and its 200 day moving average is $224.80.

STERIS (NYSE:STE) last released its quarterly earnings data on Wednesday, November 6th. The medical equipment provider reported $2.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.12 by $0.02. The company had revenue of $1.33 billion during the quarter, compared to analysts’ expectations of $1.33 billion. STERIS had a net margin of 8.02% and a return on equity of 13.78%. The firm’s quarterly revenue was up 7.3% on a year-over-year basis. During the same period in the previous year, the company earned $2.03 EPS. Research analysts predict that STERIS will post 9.11 EPS for the current year.

Insider Buying and Selling at STERIS

In other news, SVP Cary L. Majors sold 1,682 shares of the stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $217.32, for a total value of $365,532.24. Following the transaction, the senior vice president now directly owns 11,372 shares of the company’s stock, valued at approximately $2,471,363.04. This represents a 12.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.14% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. JMP Securities reaffirmed a “market outperform” rating and issued a $265.00 price objective on shares of STERIS in a research note on Monday, November 18th. Piper Sandler upgraded STERIS from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $230.00 to $260.00 in a report on Thursday, October 24th. Needham & Company LLC reiterated a “hold” rating on shares of STERIS in a research note on Friday, November 8th. StockNews.com lowered shares of STERIS from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, October 29th. Finally, Stephens reissued an “overweight” rating and set a $260.00 target price on shares of STERIS in a research report on Thursday, November 7th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, STERIS presently has a consensus rating of “Moderate Buy” and a consensus price target of $262.50.

About STERIS

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.