Short Interest in STERIS plc (NYSE:STE) Decreases By 29.3%

STERIS plc (NYSE:STE) was the recipient of a significant decrease in short interest during the month of August. As of August 31st, there was short interest totalling 1,830,000 shares, a decrease of 29.3% from the August 15th total of 2,590,000 shares. Based on an average daily volume of 458,200 shares, the short-interest ratio is currently 4.0 days. Currently, 1.9% of the shares of the stock are short sold.

STERIS Stock Performance

Shares of STE stock traded down $1.15 during trading hours on Monday, hitting $243.68. 280,761 shares of the company were exchanged, compared to its average volume of 474,332. The firm has a fifty day simple moving average of $234.02 and a 200 day simple moving average of $225.20. 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 has a 52-week low of $195.47 and a 52-week high of $248.24. The stock has a market capitalization of $24.09 billion, a price-to-earnings ratio of 64.09 and a beta of 0.83.

STERIS (NYSE:STE) last issued its quarterly earnings results on Tuesday, August 6th. The medical equipment provider reported $2.14 earnings per share (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 company had revenue of $1.28 billion during the quarter, compared to analyst estimates of $1.27 billion. During the same quarter last year, the business posted $2.00 EPS. STERIS’s quarterly revenue was down .4% compared to the same quarter last year. Research analysts predict that STERIS will post 9.05 earnings per share for the current fiscal year.

STERIS Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 20th. Investors of record on Thursday, September 5th will be paid a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a yield of 0.94%. This is a positive change from STERIS’s previous quarterly dividend of $0.52. The ex-dividend date is Thursday, September 5th. STERIS’s payout ratio is currently 59.69%.

Wall Street Analyst Weigh In

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

Insiders Place Their Bets

In other STERIS news, CFO Michael J. Tokich sold 23,332 shares of the company’s stock in a transaction on Tuesday, September 10th. The stock was 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. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO Michael J. Tokich sold 23,332 shares of the stock in a transaction on Tuesday, September 10th. The stock was 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 directly owns 42,930 shares in the company, valued at approximately $10,603,710. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Christopher S. Holland sold 473 shares of the 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 transaction, the director now owns 582 shares of the company’s stock, valued at $139,493.76. The disclosure for this sale can be found here. Corporate insiders own 1.14% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in STE. First Personal Financial Services purchased a new position in STERIS in the first quarter worth $25,000. J.Safra Asset Management Corp boosted its position in STERIS by 77.9% during the first quarter. J.Safra Asset Management Corp now owns 121 shares of the medical equipment provider’s stock valued at $27,000 after buying an additional 53 shares during the period. Quent Capital LLC boosted its position in STERIS by 112.7% during the first quarter. Quent Capital LLC now owns 134 shares of the medical equipment provider’s stock valued at $30,000 after buying an additional 71 shares during the period. Headlands Technologies LLC purchased a new stake in STERIS during the first quarter valued at about $36,000. Finally, Pingora Partners LLC purchased a new stake in STERIS during the fourth quarter valued at about $37,000. Institutional investors own 94.69% of the company’s stock.

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.