STERIS plc (NYSE:STE) Plans Dividend Increase – $0.57 Per Share

STERIS plc (NYSE:STE) declared a quarterly dividend on Wednesday, July 31st, Zacks reports. Shareholders of record on Thursday, September 5th will be given a dividend of 0.57 per share by the medical equipment provider on Friday, September 20th. This represents a $2.28 dividend on an annualized basis and a yield of 0.95%. The ex-dividend date of this dividend is Thursday, September 5th. This is a positive change from STERIS’s previous quarterly dividend of $0.52.

STERIS has raised its dividend payment by an average of 8.7% annually over the last three years and has raised its dividend every year for the last 20 years. STERIS has a dividend payout ratio of 22.6% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect STERIS to earn $10.03 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 22.7%.

STERIS Price Performance

STE stock opened at $241.10 on Tuesday. The company has a market capitalization of $23.83 billion, a P/E ratio of 63.12 and a beta of 0.83. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.49 and a current ratio of 2.33. STERIS has a 52-week low of $195.47 and a 52-week high of $243.37. The business has a 50-day simple moving average of $229.43 and a two-hundred day simple moving average of $224.53.

STERIS (NYSE:STE) last released 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. STERIS had a return on equity of 13.85% and a net margin of 7.36%. The business had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.27 billion. During the same quarter in the previous year, the business earned $2.00 EPS. The company’s quarterly revenue was down .4% on a year-over-year basis. Research analysts expect that STERIS will post 9.15 EPS for the current fiscal year.

Insider Activity at STERIS

In other STERIS news, Director Christopher S. Holland sold 473 shares of the business’s stock in a transaction on Thursday, August 8th. The shares were 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 of the company’s stock, valued at approximately $139,493.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.14% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on STE shares. Stephens restated an “overweight” rating and issued a $260.00 target price on shares of STERIS in a research note on Wednesday, August 7th. Piper Sandler restated a “neutral” rating and issued a $225.00 target price (up previously from $220.00) on shares of STERIS in a research note on Friday, May 10th. JMP Securities reiterated a “market outperform” rating and issued a $265.00 price objective on shares of STERIS in a research note on Wednesday, August 7th. StockNews.com upgraded STERIS from a “hold” rating to a “buy” rating in a research note on Tuesday, August 13th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of STERIS in a research note on Thursday, August 8th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $243.60.

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.