STERIS plc (NYSE:STE) Short Interest Down 26.6% in November

STERIS plc (NYSE:STE) was the recipient of a large drop in short interest in November. As of November 15th, there was short interest totalling 755,600 shares, a drop of 26.6% from the October 31st total of 1,030,000 shares. Based on an average daily trading volume, of 546,000 shares, the days-to-cover ratio is presently 1.4 days. Currently, 0.8% of the shares of the company are short sold.

Insiders Place Their Bets

In related news, SVP Cary L. Majors sold 1,682 shares of the company’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $217.32, for a total value of $365,532.24. Following the completion of the transaction, the senior vice president now directly owns 11,372 shares in the company, valued at approximately $2,471,363.04. The trade was a 12.88 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Michael J. Tokich sold 23,332 shares of the company’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $247.00, for a total transaction of $5,763,004.00. Following the completion of the transaction, the chief financial officer now owns 42,930 shares of the company’s stock, valued at $10,603,710. This trade represents a 35.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.14% of the company’s stock.

Hedge Funds Weigh In On STERIS

Hedge funds and other institutional investors have recently modified their holdings of the stock. Bleakley Financial Group LLC increased its position in shares of STERIS by 8.7% during the third quarter. Bleakley Financial Group LLC now owns 1,680 shares of the medical equipment provider’s stock valued at $407,000 after buying an additional 134 shares during the period. Assetmark Inc. grew its holdings in STERIS by 24.6% in the third quarter. Assetmark Inc. now owns 13,410 shares of the medical equipment provider’s stock worth $3,252,000 after purchasing an additional 2,647 shares during the period. BDF Gestion purchased a new stake in STERIS in the second quarter worth about $2,644,000. KBC Group NV grew its holdings in STERIS by 52.0% in the third quarter. KBC Group NV now owns 12,071 shares of the medical equipment provider’s stock worth $2,928,000 after purchasing an additional 4,132 shares during the period. Finally, Foster Victor Wealth Advisors LLC grew its holdings in STERIS by 11.0% in the second quarter. Foster Victor Wealth Advisors LLC now owns 60,302 shares of the medical equipment provider’s stock worth $13,727,000 after purchasing an additional 5,999 shares during the period. Hedge funds and other institutional investors own 94.69% of the company’s stock.

STERIS Trading Up 0.8 %

Shares of NYSE:STE traded up $1.81 during midday trading on Friday, hitting $219.28. 342,972 shares of the stock traded hands, compared to its average volume of 497,351. The stock has a market capitalization of $21.65 billion, a PE ratio of 49.65 and a beta of 0.85. The business’s 50 day moving average is $225.36 and its two-hundred day moving average is $228.43. 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 has a one year low of $195.47 and a one year high of $248.24.

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

STERIS Announces Dividend

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 given a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a dividend yield of 1.04%. The ex-dividend date of this dividend is Tuesday, November 19th. STERIS’s dividend payout ratio is currently 52.05%.

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. Piper Sandler raised shares of STERIS from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $230.00 to $260.00 in a research note on Thursday, October 24th. JMP Securities reissued a “market outperform” rating and issued a $265.00 price target on shares of STERIS in a research note on Monday, November 18th. Stephens reissued an “overweight” rating and issued a $260.00 price target on shares of STERIS in a research note on Thursday, November 7th. Needham & Company LLC reissued a “hold” rating on shares of STERIS in a research note on Friday, November 8th. Finally, StockNews.com downgraded shares of STERIS from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, October 29th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, STERIS presently has a consensus rating of “Moderate Buy” and an average price target of $253.00.

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.