Steris PLC (NYSE:STE) announced a quarterly dividend on Monday, May 13th, Zacks reports. Stockholders of record on Wednesday, June 12th will be paid a dividend of 0.34 per share by the medical equipment provider on Friday, June 28th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.91%. The ex-dividend date of this dividend is Tuesday, June 11th.
Steris has increased its dividend payment by an average of 10.6% per year over the last three years and has raised its dividend annually for the last 9 consecutive years. Steris has a payout ratio of 28.9% indicating that its dividend is sufficiently covered by earnings. Analysts expect Steris to earn $5.92 per share next year, which means the company should continue to be able to cover its $1.36 annual dividend with an expected future payout ratio of 23.0%.
Shares of NYSE:STE traded up $2.34 during midday trading on Friday, reaching $148.88. The company had a trading volume of 920,481 shares, compared to its average volume of 482,163. Steris has a 1-year low of $99.14 and a 1-year high of $148.88. The company has a fifty day simple moving average of $137.52. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.82 and a current ratio of 2.27. The company has a market capitalization of $12.29 billion, a price-to-earnings ratio of 30.45 and a beta of 0.96.
Several research firms recently commented on STE. Zacks Investment Research lowered shares of Steris from a “hold” rating to a “sell” rating in a report on Wednesday, April 24th. KeyCorp upped their price target on Steris from $135.00 to $138.00 and gave the company an “overweight” rating in a research report on Wednesday, May 15th. JMP Securities upped their price target on Steris from $135.00 to $150.00 and gave the company a “market outperform” rating in a research report on Wednesday, May 22nd. Finally, Stephens upped their price target on Steris from $135.00 to $150.00 and gave the company an “overweight” rating in a research report on Wednesday, May 15th. Five equities research analysts have rated the stock with a buy rating, Steris has a consensus rating of “Buy” and an average price target of $148.20.
In other Steris news, Director Jacqueline B. Kosecoff sold 3,609 shares of the company’s stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $132.22, for a total value of $477,181.98. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Karen L. Burton sold 1,387 shares of the stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $133.89, for a total value of $185,705.43. The disclosure for this sale can be found here. Insiders sold 237,145 shares of company stock worth $32,091,848 over the last quarter. Company insiders own 2.36% of the company’s stock.
STERIS plc provides infection prevention and other procedural products and services worldwide. The company operates in four segments: Healthcare Products, Healthcare Specialty Services, Life Sciences, and Applied Sterilization Technologies. The Healthcare Products segment offers cleaning chemistries and sterility assurance products; accessories for gastrointestinal (GI) procedures, washers, sterilizers, and other pieces of capital equipment for the operations of a sterile processing department; and equipment used in the operating room, including surgical tables, lights, equipment management services, and connectivity solutions.
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