STERIS plc (NYSE:STE – Get Free Report) 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
Check Out Our Latest Stock Report on STERIS
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 – Get Free Report) 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.
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