STERIS plc (NYSE:STE) Sees Large Decline in Short Interest

STERIS plc (NYSE:STE) saw a large drop in short interest during the month of May. As of May 15th, there was short interest totalling 1,070,000 shares, a drop of 20.1% from the April 30th total of 1,340,000 shares. Based on an average daily volume of 662,600 shares, the days-to-cover ratio is currently 1.6 days. Currently, 1.1% of the company’s shares are sold short.

Insider Buying and Selling at STERIS

In other news, SVP Cary L. Majors sold 12,828 shares of the firm’s stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $250.08, for a total value of $3,208,026.24. Following the transaction, the senior vice president now owns 11,372 shares of the company’s stock, valued at approximately $2,843,909.76. This trade represents a 53.01% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 1.14% of the stock is owned by company insiders.

Institutional Trading of STERIS

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Geneos Wealth Management Inc. raised its position in shares of STERIS by 416.0% during the 1st quarter. Geneos Wealth Management Inc. now owns 129 shares of the medical equipment provider’s stock worth $29,000 after buying an additional 104 shares in the last quarter. Avalon Trust Co bought a new stake in shares of STERIS during the 4th quarter worth about $30,000. Human Investing LLC acquired a new position in shares of STERIS in the 4th quarter worth approximately $31,000. Grove Bank & Trust grew its stake in shares of STERIS by 4,733.3% in the 1st quarter. Grove Bank & Trust now owns 145 shares of the medical equipment provider’s stock worth $33,000 after purchasing an additional 142 shares during the last quarter. Finally, Anfield Capital Management LLC grew its stake in shares of STERIS by 100.0% in the 4th quarter. Anfield Capital Management LLC now owns 182 shares of the medical equipment provider’s stock worth $37,000 after purchasing an additional 91 shares during the last quarter. 94.69% of the stock is currently owned by institutional investors.

STERIS Trading Up 0.0%

Shares of NYSE:STE opened at $245.09 on Monday. The company has a market cap of $24.08 billion, a PE ratio of 52.04 and a beta of 0.96. The company’s 50-day moving average price is $228.42 and its 200 day moving average price is $220.91. STERIS has a fifty-two week low of $200.98 and a fifty-two week high of $252.79. The company has a quick ratio of 1.40, a current ratio of 2.13 and a debt-to-equity ratio of 0.32.

STERIS (NYSE:STE) last issued its quarterly earnings data on Wednesday, May 14th. The medical equipment provider reported $2.74 earnings per share for the quarter, beating the consensus estimate of $2.59 by $0.15. The firm had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.47 billion. STERIS had a net margin of 8.66% and a return on equity of 13.91%. STERIS’s quarterly revenue was up 5.7% compared to the same quarter last year. During the same period last year, the firm posted $2.58 EPS. Sell-side analysts anticipate that STERIS will post 9.08 earnings per share for the current year.

STERIS Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 26th. Shareholders of record on Tuesday, June 10th will be given a dividend of $0.57 per share. The ex-dividend date of this dividend is Tuesday, June 10th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 0.93%. STERIS’s dividend payout ratio (DPR) is 36.77%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Jefferies Financial Group started coverage on shares of STERIS in a report on Thursday. They set a “hold” rating and a $263.00 price objective for the company. Morgan Stanley lifted their price target on shares of STERIS from $240.00 to $260.00 and gave the company an “equal weight” rating in a report on Monday, May 19th. Needham & Company LLC reaffirmed a “hold” rating on shares of STERIS in a report on Monday, April 7th. Stephens reaffirmed an “overweight” rating and issued a $250.00 price target on shares of STERIS in a report on Thursday, May 15th. Finally, JMP Securities lifted their price objective on shares of STERIS from $265.00 to $280.00 and gave the company a “market outperform” rating in a research report on Friday, May 16th. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, STERIS currently has a consensus rating of “Moderate Buy” and an average target price of $263.83.

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.