STERIS plc (NYSE:STE) Short Interest Update

STERIS plc (NYSE:STE) was the target of a significant decline in short interest in November. As of November 15th, there was short interest totalling 755,600 shares, a decline of 26.6% from the October 31st total of 1,030,000 shares. Currently, 0.8% of the company’s shares are short sold. Based on an average daily trading volume, of 546,000 shares, the days-to-cover ratio is presently 1.4 days.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on STE. Stephens reissued an “overweight” rating and issued a $260.00 target price on shares of STERIS in a research report on Thursday, November 7th. StockNews.com cut shares of STERIS from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, October 29th. KeyCorp increased their target price on STERIS from $255.00 to $265.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 3rd. Needham & Company LLC reissued a “hold” rating on shares of STERIS in a research report on Friday, November 8th. Finally, JMP Securities restated a “market outperform” rating and issued a $265.00 price objective on shares of STERIS in a report on Monday, November 18th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $253.00.

STERIS Stock Up 0.7 %

Shares of NYSE:STE traded up $1.59 during midday trading on Friday, hitting $219.06. 342,972 shares of the company’s stock traded hands, compared to its average volume of 728,088. STERIS has a twelve month low of $195.47 and a twelve month high of $248.24. The company has a market cap of $21.62 billion, a PE ratio of 50.01 and a beta of 0.85. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.55 and a current ratio of 2.41. The firm’s fifty day moving average price is $225.01 and its two-hundred day moving average price is $228.23.

STERIS (NYSE:STE) last issued its quarterly earnings data on Wednesday, November 6th. The medical equipment provider reported $2.14 EPS for the quarter, topping analysts’ consensus estimates of $2.12 by $0.02. STERIS had a return on equity of 13.78% and a net margin of 8.02%. The company had revenue of $1.33 billion for the quarter, compared to analysts’ expectations of $1.33 billion. During the same quarter in the previous year, the firm posted $2.03 earnings per share. The firm’s quarterly revenue was up 7.3% on a year-over-year basis. On average, equities research analysts anticipate that STERIS will post 9.15 EPS for the current fiscal year.

STERIS Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Tuesday, November 19th will be given a $0.57 dividend. This represents a $2.28 annualized dividend and a yield of 1.04%. The ex-dividend date is Tuesday, November 19th. STERIS’s dividend payout ratio (DPR) is 52.05%.

Insider Transactions at STERIS

In related news, CFO Michael J. Tokich sold 23,332 shares of the stock in a transaction dated 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 transaction, the chief financial officer now directly owns 42,930 shares in the company, valued at approximately $10,603,710. This represents a 35.21 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Cary L. Majors sold 1,682 shares of STERIS stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $217.32, for a total value of $365,532.24. Following the completion of the sale, the senior vice president now owns 11,372 shares of the company’s stock, valued at $2,471,363.04. This trade represents a 12.88 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.14% of the company’s stock.

Institutional Trading of STERIS

Hedge funds have recently made changes to their positions in the company. Quent Capital LLC increased its stake in STERIS by 112.7% during the 1st quarter. Quent Capital LLC now owns 134 shares of the medical equipment provider’s stock worth $30,000 after buying an additional 71 shares during the period. B. Riley Wealth Advisors Inc. increased its position in shares of STERIS by 11.9% during the first quarter. B. Riley Wealth Advisors Inc. now owns 1,972 shares of the medical equipment provider’s stock worth $433,000 after acquiring an additional 209 shares during the last quarter. Tidal Investments LLC increased its position in shares of STERIS by 110.9% during the first quarter. Tidal Investments LLC now owns 12,484 shares of the medical equipment provider’s stock worth $2,807,000 after acquiring an additional 6,565 shares during the last quarter. Atria Investments Inc lifted its stake in shares of STERIS by 5.6% in the first quarter. Atria Investments Inc now owns 9,322 shares of the medical equipment provider’s stock worth $2,096,000 after acquiring an additional 493 shares in the last quarter. Finally, Cetera Investment Advisers boosted its holdings in STERIS by 215.1% in the first quarter. Cetera Investment Advisers now owns 12,330 shares of the medical equipment provider’s stock valued at $2,772,000 after purchasing an additional 8,417 shares during the last quarter. Hedge funds and other institutional investors own 94.69% 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.