Short Interest in STERIS plc (NYSE:STE) Increases By 24.1%

STERIS plc (NYSE:STE) saw a large growth in short interest during the month of November. As of November 30th, there was short interest totalling 937,500 shares, a growth of 24.1% from the November 15th total of 755,600 shares. Based on an average trading volume of 563,100 shares, the short-interest ratio is presently 1.7 days. Currently, 1.0% of the company’s stock are sold short.

Analyst Ratings Changes

STE has been the topic of several analyst reports. Needham & Company LLC reaffirmed a “hold” rating on shares of STERIS in a research report on Friday, November 8th. KeyCorp lifted their price objective on shares of STERIS from $255.00 to $265.00 and gave the stock an “overweight” rating in a report on Tuesday, September 3rd. StockNews.com downgraded shares of STERIS from a “strong-buy” rating to a “buy” rating in a report on Tuesday, October 29th. JMP Securities restated a “market outperform” rating and set a $265.00 price target on shares of STERIS in a report on Monday, November 18th. Finally, Stephens reaffirmed an “overweight” rating and issued a $260.00 price objective on shares of STERIS in a research report on Thursday, November 7th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, STERIS presently has an average rating of “Moderate Buy” and an average target price of $262.50.

STERIS Stock Down 1.0 %

Shares of NYSE:STE opened at $214.22 on Monday. STERIS has a 1 year low of $197.82 and a 1 year high of $248.24. The company has a market capitalization of $21.15 billion, a PE ratio of 48.91 and a beta of 0.83. The business has a fifty day moving average price of $220.80 and a two-hundred day moving average price of $227.30. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.41 and a quick ratio of 1.55.

STERIS (NYSE:STE) last posted its quarterly earnings results on Wednesday, November 6th. The medical equipment provider reported $2.14 earnings per share for the quarter, beating the consensus estimate of $2.12 by $0.02. The company had revenue of $1.33 billion during the quarter, compared to analyst estimates of $1.33 billion. STERIS had a net margin of 8.02% and a return on equity of 13.78%. The firm’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.03 earnings per share. Analysts forecast that STERIS will post 9.1 earnings per share for the current year.

STERIS Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Tuesday, November 19th will be issued a $0.57 dividend. The ex-dividend date of this dividend is Tuesday, November 19th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 1.06%. STERIS’s dividend payout ratio (DPR) is presently 52.05%.

Insider Buying and Selling

In other STERIS news, SVP Cary L. Majors sold 1,682 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $217.32, for a total transaction of $365,532.24. Following the completion of the sale, the senior vice president now directly owns 11,372 shares of the company’s stock, valued at approximately $2,471,363.04. The trade was a 12.88 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.14% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On STERIS

Several institutional investors have recently bought and sold shares of STE. Wealth Enhancement Advisory Services LLC raised its stake in shares of STERIS by 12.9% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 5,801 shares of the medical equipment provider’s stock valued at $1,274,000 after buying an additional 661 shares during the period. ORG Partners LLC purchased a new stake in STERIS during the second quarter valued at about $76,000. Blue Trust Inc. boosted its position in STERIS by 1,985.7% during the second quarter. Blue Trust Inc. now owns 1,168 shares of the medical equipment provider’s stock worth $263,000 after purchasing an additional 1,112 shares during the period. Boston Trust Walden Corp boosted its position in STERIS by 2.0% during the second quarter. Boston Trust Walden Corp now owns 44,794 shares of the medical equipment provider’s stock worth $9,834,000 after purchasing an additional 880 shares during the period. Finally, Raymond James & Associates increased its stake in shares of STERIS by 1.3% in the second quarter. Raymond James & Associates now owns 789,139 shares of the medical equipment provider’s stock worth $173,248,000 after purchasing an additional 10,455 shares in the last quarter. Hedge funds and other institutional investors own 94.69% of the company’s stock.

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.