STERIS plc (NYSE:STE) Short Interest Down 29.3% in August

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

Insider Activity

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of STE. Vanguard Group Inc. lifted its stake in shares of STERIS by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 11,864,606 shares of the medical equipment provider’s stock worth $2,608,434,000 after purchasing an additional 53,526 shares in the last quarter. Massachusetts Financial Services Co. MA raised its holdings in shares of STERIS by 13.7% during 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 buying an additional 778,613 shares during the period. Price T Rowe Associates Inc. MD lifted its position in STERIS by 7.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,738,630 shares of the medical equipment provider’s stock worth $390,880,000 after acquiring an additional 120,616 shares in the last quarter. Sustainable Growth Advisers LP boosted its holdings in STERIS by 23.5% in the 1st quarter. Sustainable Growth Advisers LP now owns 1,485,578 shares of the medical equipment provider’s stock worth $333,988,000 after acquiring an additional 282,387 shares during the period. Finally, Impax Asset Management Group plc grew its position in STERIS by 29.7% in 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 in the last quarter. 94.69% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

STERIS Trading Down 0.5 %

STERIS stock traded down $1.15 during trading on Monday, hitting $243.68. The company’s stock had a trading volume of 280,761 shares, compared to its average volume of 474,332. The stock’s fifty day moving average is $234.02 and its 200 day moving average is $225.20. STERIS has a 1-year low of $195.47 and a 1-year 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. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.49 and a current ratio of 2.33.

STERIS (NYSE:STE) last released its earnings results on Tuesday, August 6th. The medical equipment provider reported $2.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.98 by $0.16. The firm had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.27 billion. STERIS had a net margin of 7.36% and a return on equity of 13.85%. STERIS’s revenue was down .4% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.00 earnings per share. As a group, equities research analysts predict that STERIS will post 9.05 EPS for the current year.

STERIS Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 20th. Stockholders of record on Thursday, September 5th will be issued a dividend of $0.57 per share. The ex-dividend date is Thursday, September 5th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 0.94%. This is a boost from STERIS’s previous quarterly dividend of $0.52. STERIS’s payout ratio is presently 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.