Steris Plc (STE) Declares Quarterly Dividend of $0.31
Steris Plc (NYSE:STE) announced a quarterly dividend on Wednesday, November 1st, Zacks reports. Shareholders of record on Wednesday, November 22nd will be paid a dividend of 0.31 per share by the medical equipment provider on Wednesday, December 20th. This represents a $1.24 dividend on an annualized basis and a yield of 1.33%. The ex-dividend date of this dividend is Tuesday, November 21st.
Steris Plc has increased its dividend payment by an average of 9.8% annually over the last three years and has increased its dividend annually for the last 7 consecutive years. Steris Plc has a dividend payout ratio of 30.5% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Steris Plc to earn $4.54 per share next year, which means the company should continue to be able to cover its $1.24 annual dividend with an expected future payout ratio of 27.3%.
Steris Plc (NYSE:STE) last released its earnings results on Wednesday, November 1st. The medical equipment provider reported $0.94 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.95 by ($0.01). The company had revenue of $634.20 million during the quarter, compared to analysts’ expectations of $629.02 million. Steris Plc had a net margin of 4.63% and a return on equity of 11.39%. The company’s revenue for the quarter was down 1.9% on a year-over-year basis. During the same quarter last year, the business posted $0.89 earnings per share.
A number of research firms have weighed in on STE. BidaskClub cut Steris Plc from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 31st. Zacks Investment Research upgraded Steris Plc from a “hold” rating to a “buy” rating and set a $101.00 price target on the stock in a research note on Monday, October 9th. Raymond James Financial, Inc. raised their price target on Steris Plc from $95.00 to $100.00 and gave the company an “outperform” rating in a research note on Monday, October 16th. Finally, KeyCorp restated a “buy” rating and issued a $91.00 price target on shares of Steris Plc in a research note on Tuesday, October 17th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $93.25.
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In other Steris Plc news, VP Karen L. Burton sold 3,270 shares of the firm’s stock in a transaction on Tuesday, August 15th. The stock was sold at an average price of $85.70, for a total value of $280,239.00. Following the sale, the vice president now directly owns 11,807 shares in the company, valued at $1,011,859.90. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Walter M. Rosebrough, Jr. sold 10,000 shares of the firm’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 completion of the sale, the chief executive officer now owns 83,270 shares in the company, valued at $7,135,406.30. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 205,086 shares of company stock worth $17,965,621. 2.55% of the stock is owned by insiders.
Steris Plc Company Profile
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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