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

STERIS plc (NYSE:STE - Get Free Report) announced a quarterly dividend on Wednesday, October 30th, Zacks reports. Shareholders of record on Tuesday, November 19th will be paid a dividend of 0.57 per share by the medical equipment provider on Thursday, December 19th. This represents a $2.28 annualized dividend and a dividend yield of 1.01%. The ex-dividend date is Tuesday, November 19th.

STERIS has increased its dividend payment by an average of 8.7% per year over the last three years and has increased its dividend every year for the last 20 years. STERIS has a payout ratio of 22.6% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect STERIS to earn $9.86 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 23.1%.

STERIS Price Performance

Shares of STE traded up $3.33 during trading hours on Friday, reaching $225.18. The company had a trading volume of 486,901 shares, compared to its average volume of 473,925. 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 12-month low of $195.47 and a 12-month high of $248.24. The firm has a 50 day simple moving average of $233.94 and a 200-day simple moving average of $226.68. The company has a market capitalization of $22.21 billion, a price-to-earnings ratio of 55.04 and a beta of 0.84.

STERIS (NYSE:STE - Get Free Report) last posted its quarterly 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 company 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%. The company's revenue for the quarter was down .4% on a year-over-year basis. During the same period last year, the firm earned $2.00 EPS. Research analysts expect that STERIS will post 9.02 earnings per share for the current year.

Insider Buying and Selling at STERIS

In other news, Director Christopher S. Holland sold 473 shares of the firm's stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $239.68, for a total transaction of $113,368.64. Following the sale, the director now owns 582 shares in the company, valued at $139,493.76. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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 transaction 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. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Michael J. Tokich sold 23,332 shares of the firm's stock in a transaction that occurred 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. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.14% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. StockNews.com cut shares of STERIS from a "strong-buy" rating to a "buy" rating in a research note on Tuesday. Stephens reiterated an "overweight" rating and issued a $260.00 price target on shares of STERIS in a research report on Wednesday, August 7th. JMP Securities restated a "market outperform" rating and set a $265.00 price objective on shares of STERIS in a research report on Wednesday, August 7th. Piper Sandler upgraded STERIS from a "neutral" rating to an "overweight" rating and increased their target price for the company from $230.00 to $260.00 in a report on Thursday, October 24th. Finally, KeyCorp raised their price target on STERIS from $255.00 to $265.00 and gave the stock an "overweight" rating in a research report on Tuesday, September 3rd. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, STERIS presently has a consensus rating of "Moderate Buy" and an average price target of $253.00.

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.