STERIS plc (NYSE:STE) Short Interest Down 28.0% in October

STERIS plc (NYSE:STE) was the target of a significant decline in short interest during the month of October. As of October 31st, there was short interest totalling 1,030,000 shares, a decline of 28.0% from the October 15th total of 1,430,000 shares. Based on an average daily trading volume, of 497,700 shares, the days-to-cover ratio is currently 2.1 days. Currently, 1.1% of the shares of the company are sold short.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. JMP Securities restated a “market outperform” rating and issued a $265.00 price objective on shares of STERIS in a report on Wednesday, August 7th. StockNews.com cut shares of STERIS from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, October 29th. Stephens reiterated an “overweight” rating and issued a $260.00 price target on shares of STERIS in a research note on Thursday, November 7th. Piper Sandler raised shares of STERIS from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $230.00 to $260.00 in a research note on Thursday, October 24th. Finally, KeyCorp increased their price objective on shares of STERIS from $255.00 to $265.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 3rd. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, STERIS presently has a consensus rating of “Moderate Buy” and a consensus target price of $253.00.

STERIS Stock Down 0.5 %

Shares of STE stock traded down $1.08 during mid-day trading on Thursday, reaching $221.19. 549,370 shares of the company’s stock traded hands, compared to its average volume of 492,470. STERIS has a 12 month low of $195.47 and a 12 month high of $248.24. The company’s 50-day moving average price is $231.12 and its 200-day moving average price is $228.20. The company has a market cap of $21.83 billion, a P/E ratio of 50.74 and a beta of 0.85. The company has a quick ratio of 1.55, a current ratio of 2.41 and a debt-to-equity ratio of 0.33.

STERIS (NYSE:STE) last posted its quarterly earnings data on Wednesday, November 6th. The medical equipment provider reported $2.14 EPS for the quarter, beating analysts’ consensus estimates of $2.12 by $0.02. STERIS had a return on equity of 13.78% and a net margin of 8.02%. The company had revenue of $1.33 billion during the quarter, compared to analysts’ expectations of $1.33 billion. During the same quarter in the prior year, the business earned $2.03 earnings per share. STERIS’s revenue for the quarter was up 7.3% compared to the same quarter last year. On average, equities analysts expect that STERIS will post 9.15 earnings per share for the current fiscal year.

STERIS Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Tuesday, November 19th will be paid a $0.57 dividend. This represents a $2.28 annualized dividend and a dividend yield of 1.03%. The ex-dividend date of this dividend is Tuesday, November 19th. STERIS’s payout ratio is 52.05%.

Insider Transactions at STERIS

In related news, CFO Michael J. Tokich sold 23,332 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $247.00, for a total value of $5,763,004.00. Following the completion of the transaction, the chief financial officer now owns 42,930 shares in the company, valued at $10,603,710. The trade was a 35.21 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 1.14% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On STERIS

Institutional investors and hedge funds have recently modified their holdings of the business. Bleakley Financial Group LLC raised its stake in STERIS by 8.7% in the third quarter. Bleakley Financial Group LLC now owns 1,680 shares of the medical equipment provider’s stock worth $407,000 after buying an additional 134 shares in the last quarter. Russell Investments Group Ltd. raised its holdings in STERIS by 8.3% in the 1st quarter. Russell Investments Group Ltd. now owns 58,841 shares of the medical equipment provider’s stock worth $13,235,000 after purchasing an additional 4,494 shares during the period. State Board of Administration of Florida Retirement System grew its stake in STERIS by 3.2% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 106,346 shares of the medical equipment provider’s stock valued at $23,909,000 after acquiring an additional 3,342 shares during the period. Assetmark Inc. lifted its position in shares of STERIS by 24.6% in the third quarter. Assetmark Inc. now owns 13,410 shares of the medical equipment provider’s stock valued at $3,252,000 after acquiring an additional 2,647 shares in the last quarter. Finally, BDF Gestion acquired a new position in STERIS during the second quarter worth about $2,644,000. 94.69% of the stock is owned by institutional investors.

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.