STERIS (NYSE:STE) Reaches New 52-Week High at $246.25

STERIS plc (NYSE:STE)’s share price hit a new 52-week high on Monday . The stock traded as high as $246.25 and last traded at $246.10, with a volume of 121697 shares. The stock had previously closed at $239.82.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on STE shares. Stephens restated an “overweight” rating and issued a $260.00 price target on shares of STERIS in a research report on Wednesday, August 7th. Needham & Company LLC restated a “hold” rating on shares of STERIS in a report on Thursday, August 8th. JMP Securities reiterated a “market outperform” rating and set a $265.00 price target on shares of STERIS in a report on Wednesday, August 7th. KeyCorp upped their price objective on shares of STERIS from $255.00 to $265.00 and gave the company an “overweight” rating in a report on Tuesday, September 3rd. Finally, StockNews.com raised shares of STERIS from a “hold” rating to a “buy” rating in a research note on Tuesday, August 13th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $246.00.

STERIS Trading Down 2.1 %

The business has a fifty day moving average price of $232.44 and a two-hundred day moving average price of $224.94. The company has a current ratio of 2.33, a quick ratio of 1.49 and a debt-to-equity ratio of 0.35. The firm has a market capitalization of $23.87 billion, a PE ratio of 64.70 and a beta of 0.83.

STERIS (NYSE:STE) last announced its earnings results on Tuesday, August 6th. The medical equipment provider reported $2.14 earnings per share for the quarter, topping the consensus estimate of $1.98 by $0.16. The company had revenue of $1.28 billion during the quarter, compared to analyst estimates of $1.27 billion. STERIS had a net margin of 7.36% and a return on equity of 13.85%. STERIS’s revenue was down .4% compared to the same quarter last year. During the same quarter last year, the firm posted $2.00 earnings per share. Analysts expect that STERIS plc will post 9.05 EPS for the current fiscal year.

STERIS Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 20th. Investors of record on Thursday, September 5th will be issued a $0.57 dividend. This represents a $2.28 annualized dividend and a dividend yield of 0.94%. The ex-dividend date is Thursday, September 5th. This is an increase from STERIS’s previous quarterly dividend of $0.52. STERIS’s payout ratio is currently 59.69%.

Insider Buying and Selling

In other STERIS news, Director Christopher S. Holland sold 473 shares of STERIS stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $239.68, for a total value of $113,368.64. Following the completion of the transaction, the director now directly owns 582 shares of the company’s stock, valued at approximately $139,493.76. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 1.14% of the stock is owned by corporate insiders.

Institutional Trading of STERIS

A number of large investors have recently modified their holdings of the stock. Russell Investments Group Ltd. grew its stake in STERIS by 8.3% during 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 in the last quarter. State Board of Administration of Florida Retirement System grew its position in shares of STERIS by 3.2% during the first quarter. State Board of Administration of Florida Retirement System now owns 106,346 shares of the medical equipment provider’s stock worth $23,909,000 after buying an additional 3,342 shares in the last quarter. Caden Capital Partners LP increased its stake in shares of STERIS by 80.0% during the fourth quarter. Caden Capital Partners LP now owns 82,312 shares of the medical equipment provider’s stock worth $18,096,000 after buying an additional 36,576 shares during the period. Diversify Advisory Services LLC purchased a new stake in shares of STERIS during the first quarter worth approximately $903,000. Finally, Perpetual Ltd raised its holdings in STERIS by 9.3% in the first quarter. Perpetual Ltd now owns 40,571 shares of the medical equipment provider’s stock valued at $9,121,000 after acquiring an additional 3,437 shares in the last quarter. Hedge funds and other institutional investors own 94.69% of the company’s stock.

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.