Steris PLC (NYSE:STE) to Issue $0.34 Quarterly Dividend

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.

Steris (NYSE:STE) last posted its earnings results on Monday, May 13th. The medical equipment provider reported $1.53 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.44 by $0.09. Steris had a net margin of 10.93% and a return on equity of 13.34%. The company had revenue of $768.00 million during the quarter, compared to analyst estimates of $738.87 million. During the same period in the prior year, the business posted $1.24 earnings per share. Steris’s revenue for the quarter was up 7.3% on a year-over-year basis. As a group, sell-side analysts forecast that Steris will post 5.37 earnings per share for the current fiscal year.

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.

About Steris

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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Dividend History for Steris (NYSE:STE)

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