Steris Plc (NYSE:STE) shares were up 5.5% during trading on Tuesday following a stronger than expected earnings report. The company traded as high as $87.49 and last traded at $86.70, with a volume of 1,220,959 shares traded. The stock had previously closed at $82.21.
The medical equipment provider reported $0.85 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.80 by $0.05. Steris Plc had a return on equity of 11.39% and a net margin of 4.63%. The business had revenue of $608 million for the quarter, compared to analyst estimates of $597.66 million. During the same quarter in the prior year, the firm posted $0.79 EPS. The business’s quarterly revenue was down 4.8% compared to the same quarter last year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 28th. Shareholders of record on Tuesday, August 29th will be given a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 1.46%. The ex-dividend date is Friday, August 25th. This is a positive change from Steris Plc’s previous quarterly dividend of $0.28. Steris Plc’s dividend payout ratio is currently 80.00%.
Several equities research analysts have commented on STE shares. Zacks Investment Research upgraded Steris Plc from a “sell” rating to a “hold” rating in a research report on Friday, June 23rd. KeyCorp upgraded Steris Plc from a “sector weight” rating to an “overweight” rating and set a $89.00 price objective on the stock in a research report on Wednesday, May 3rd. Raymond James Financial, Inc. upped their price objective on Steris Plc from $90.00 to $95.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 9th. BidaskClub lowered Steris Plc from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 31st. Finally, Wellington Shields lowered Steris Plc from a “gradually accumulate” rating to a “hold” rating in a research report on Monday, June 5th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Steris Plc presently has a consensus rating of “Buy” and an average price target of $86.75.
In other Steris Plc news, CEO Walter M. Rosebrough, Jr. sold 10,000 shares of the firm’s stock in a transaction on Friday, June 2nd. The stock was sold at an average price of $80.05, for a total value of $800,500.00. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Sudhir K. Pahwa sold 800 shares of the firm’s stock in a transaction on Thursday, May 25th. The shares were sold at an average price of $77.28, for a total value of $61,824.00. The disclosure for this sale can be found here. Insiders have sold a total of 46,354 shares of company stock worth $3,805,772 in the last quarter. Insiders own 2.55% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Investment Counselors of Maryland LLC raised its position in shares of Steris Plc by 28.7% in the first quarter. Investment Counselors of Maryland LLC now owns 2,640 shares of the medical equipment provider’s stock worth $183,000 after buying an additional 588 shares during the last quarter. Citigroup Inc. purchased a new position in shares of Steris Plc during the second quarter worth $206,000. Van Cleef Asset Management Inc purchased a new position in shares of Steris Plc during the second quarter worth $208,000. Cigna Investments Inc. New purchased a new position in shares of Steris Plc during the second quarter worth $209,000. Finally, BT Investment Management Ltd purchased a new position in shares of Steris Plc during the second quarter worth $210,000. Institutional investors own 92.40% of the company’s stock.
The stock has a market cap of $7.26 billion, a P/E ratio of 60.89 and a beta of 1.33. The firm’s 50-day moving average price is $83.11 and its 200 day moving average price is $75.64.
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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