STERIS plc (NYSE:STE) Declares Dividend Increase – $0.69 Per Share

STERIS plc (NYSE:STE) announced a quarterly dividend on Thursday, July 30th. Shareholders of record on Friday, September 4th will be paid a dividend of 0.69 per share by the medical equipment provider on Friday, September 25th. This represents a c) annualized dividend and a yield of 1.2%. The ex-dividend date is Friday, September 4th. This is a 9.5% increase from STERIS’s previous quarterly dividend of $0.63.

STERIS has raised its dividend payment by an average of 0.1%annually over the last three years and has increased its dividend every year for the last 20 years. STERIS has a payout ratio of 22.9% meaning its dividend is sufficiently covered by earnings. Research analysts expect STERIS to earn $11.94 per share next year, which means the company should continue to be able to cover its $2.52 annual dividend with an expected future payout ratio of 21.1%.

STERIS Trading Down 1.5%

STERIS stock opened at $231.32 on Friday. The company has a market cap of $22.54 billion, a price-to-earnings ratio of 29.17 and a beta of 0.92. The firm has a 50-day moving average of $212.75 and a 200-day moving average of $226.54. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.09 and a quick ratio of 1.54. STERIS has a one year low of $195.14 and a one year high of $269.44.

STERIS (NYSE:STE) last released its earnings results on Monday, May 11th. The medical equipment provider reported $2.83 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.86 by ($0.03). STERIS had a return on equity of 14.15% and a net margin of 13.18%.The company had revenue of $1.59 billion for the quarter, compared to the consensus estimate of $1.59 billion. During the same quarter in the previous year, the company posted $2.74 EPS. The business’s revenue was up 6.7% on a year-over-year basis. STERIS has set its FY 2027 guidance at 11.100-11.300 EPS. On average, equities analysts expect that STERIS will post 11.18 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Richard C. Breeden sold 1,481 shares of the stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $209.51, for a total value of $310,284.31. Following the sale, the director owned 38,964 shares in the company, valued at approximately $8,163,347.64. This represents a 3.66% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP John Adam Zangerle sold 1,419 shares of the firm’s stock in a transaction on Monday, June 15th. The shares were sold at an average price of $209.28, for a total value of $296,968.32. Following the sale, the vice president directly owned 35,259 shares of the company’s stock, valued at $7,379,003.52. This represents a 3.87% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 7,328 shares of company stock valued at $1,554,051 over the last three months. Insiders own 1.12% of the company’s stock.

Hedge Funds Weigh In On STERIS

Several institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. boosted its holdings in shares of STERIS by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 12,286,535 shares of the medical equipment provider’s stock worth $3,114,882,000 after buying an additional 73,014 shares during the period. State Street Corp lifted its position in STERIS by 6.0% during the fourth quarter. State Street Corp now owns 4,614,840 shares of the medical equipment provider’s stock worth $1,169,957,000 after acquiring an additional 260,001 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of STERIS by 0.6% during the fourth quarter. Geode Capital Management LLC now owns 2,523,620 shares of the medical equipment provider’s stock worth $637,259,000 after acquiring an additional 14,151 shares during the period. Orbis Allan Gray Ltd grew its position in shares of STERIS by 5.6% in the fourth quarter. Orbis Allan Gray Ltd now owns 2,249,511 shares of the medical equipment provider’s stock valued at $570,296,000 after purchasing an additional 120,200 shares during the last quarter. Finally, Janus Henderson Group PLC increased its stake in shares of STERIS by 25.7% during the first quarter. Janus Henderson Group PLC now owns 1,863,139 shares of the medical equipment provider’s stock worth $411,995,000 after purchasing an additional 380,504 shares during the period. 94.69% of the stock is currently owned by institutional investors and hedge funds.

STERIS Company Profile

STERIS Corporation (NYSE: STE) is a global provider of infection prevention, contamination control and procedural products and services for the healthcare, life sciences, pharmaceutical and medical device industries. The company develops, manufactures and supports a broad portfolio of equipment and consumables designed to reduce risk of infection, maintain sterile environments and support critical clinical and manufacturing procedures.

Its offerings include sterilization and decontamination systems, instrument washers and washers-disinfectors, endoscope reprocessing solutions, surgical equipment and procedural disposables, and contamination-control products for cleanrooms and laboratories.