$630.00 Million in Sales Expected for STERIS PLC (STE) This Quarter
Wall Street brokerages expect STERIS PLC (NYSE:STE) to report sales of $630.00 million for the current quarter, Zacks reports. Three analysts have provided estimates for STERIS PLC’s earnings, with estimates ranging from $624.00 million to $634.40 million. STERIS PLC posted sales of $646.42 million in the same quarter last year, which would indicate a negative year-over-year growth rate of 2.5%. The firm is scheduled to issue its next quarterly earnings results on Wednesday, November 1st.
On average, analysts expect that STERIS PLC will report full-year sales of $630.00 million for the current year, with estimates ranging from $2.57 billion to $2.59 billion. For the next financial year, analysts expect that the company will post sales of $2.70 billion per share, with estimates ranging from $2.69 billion to $2.71 billion. Zacks’ sales averages are an average based on a survey of research firms that cover STERIS PLC.
STERIS PLC (NYSE:STE) last released its quarterly earnings results on Tuesday, August 8th. The medical equipment provider reported $0.85 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.80 by $0.05. The company had revenue of $608.00 million for the quarter, compared to analyst estimates of $597.66 million. STERIS PLC had a net margin of 4.63% and a return on equity of 11.39%. The firm’s revenue was down 4.8% on a year-over-year basis. During the same quarter last year, the business earned $0.79 earnings per share.
Several research firms recently commented on STE. Wellington Shields downgraded shares of STERIS PLC from a “gradually accumulate” rating to a “hold” rating in a research report on Monday, June 5th. Zacks Investment Research upgraded shares of STERIS PLC from a “hold” rating to a “buy” rating and set a $92.00 price target for the company in a research report on Tuesday, July 11th. BidaskClub downgraded shares of STERIS PLC from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 31st. Finally, Raymond James Financial, Inc. upped their price target on shares of STERIS PLC from $90.00 to $95.00 and gave the company an “outperform” rating in a research report on Wednesday, August 9th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. STERIS PLC currently has an average rating of “Buy” and a consensus target price of $86.75.
In other STERIS PLC news, CEO Walter M. Rosebrough, Jr. sold 10,000 shares of the business’s stock in a transaction on Wednesday, August 16th. The shares were sold at an average price of $85.69, for a total value of $856,900.00. Following the transaction, the chief executive officer now directly owns 83,270 shares of the company’s stock, valued at approximately $7,135,406.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Michael B. Wood sold 4,000 shares of the business’s stock in a transaction on Monday, July 3rd. The shares were sold at an average price of $81.50, for a total transaction of $326,000.00. Following the completion of the transaction, the director now directly owns 26,131 shares in the company, valued at $2,129,676.50. The disclosure for this sale can be found here. Insiders sold a total of 176,086 shares of company stock worth $15,297,621 over the last three months. 2.55% of the stock is currently owned by corporate insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in STE. Janus Henderson Group PLC increased its stake in STERIS PLC by 1,972.4% in the 2nd quarter. Janus Henderson Group PLC now owns 7,679,507 shares of the medical equipment provider’s stock valued at $625,880,000 after buying an additional 7,308,950 shares during the period. BlackRock Inc. increased its stake in STERIS PLC by 16,597.1% in the 1st quarter. BlackRock Inc. now owns 5,272,105 shares of the medical equipment provider’s stock valued at $366,200,000 after buying an additional 5,240,530 shares during the period. Wellington Management Group LLP increased its stake in STERIS PLC by 77.8% in the 1st quarter. Wellington Management Group LLP now owns 6,529,610 shares of the medical equipment provider’s stock valued at $453,547,000 after buying an additional 2,856,744 shares during the period. Bessemer Group Inc. increased its stake in STERIS PLC by 944,971.1% in the 2nd quarter. Bessemer Group Inc. now owns 1,342,001 shares of the medical equipment provider’s stock valued at $109,373,000 after buying an additional 1,341,859 shares during the period. Finally, Koch Industries Inc. acquired a new position in shares of STERIS PLC during the 2nd quarter worth $1,089,000. 94.67% of the stock is currently owned by institutional investors.
Shares of STERIS PLC (NYSE:STE) opened at 86.64 on Friday. The company’s 50-day moving average is $85.38 and its 200 day moving average is $77.95. The firm has a market cap of $7.38 billion, a price-to-earnings ratio of 61.97 and a beta of 1.29. STERIS PLC has a 52-week low of $63.80 and a 52-week high of $88.11.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 28th. Shareholders of record on Tuesday, August 29th will be paid a $0.31 dividend. This is a boost from STERIS PLC’s previous quarterly dividend of $0.28. This represents a $1.24 annualized dividend and a yield of 1.43%. The ex-dividend date is Friday, August 25th. STERIS PLC’s payout ratio is currently 88.57%.
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About STERIS PLC
STERIS plc provides infection prevention and other procedural products and services. The Company operates through four segments: Healthcare Products, which offers infection prevention and procedural solutions for healthcare providers, including capital equipment and related maintenance, and installation services, as well as consumables; Healthcare Specialty Services, which provides a range of specialty services for healthcare providers, including hospital sterilization services, instrument and scope repairs, and linen management; Life Sciences, which offers capital equipment and consumable products, and equipment maintenance and specialty services for pharmaceutical manufacturers and research facilities, and Applied Sterilization Technologies, which offers contract sterilization and laboratory services for medical device and pharmaceutical customers and others.
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