Steris PLC (NYSE:STE) Declares $0.34 Quarterly Dividend

Steris PLC (NYSE:STE) declared a quarterly dividend on Monday, May 13th, Zacks reports. Investors 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 is Tuesday, June 11th.

Steris has increased its dividend by an average of 10.6% annually over the last three years and has raised its dividend every year for the last 9 years. Steris has a payout ratio of 28.9% indicating that its dividend is sufficiently covered by earnings. Equities 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%.

NYSE STE traded up $2.34 during trading hours on Friday, hitting $148.88. 920,481 shares of the stock were exchanged, compared to its average volume of 482,163. The company has a market cap of $12.29 billion, a P/E ratio of 30.45 and a beta of 0.96. Steris has a 12-month low of $99.14 and a 12-month high of $148.88. The stock has a 50-day moving average of $137.52. The company has a current ratio of 2.27, a quick ratio of 1.82 and a debt-to-equity ratio of 0.37.

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

In related news, Director Richard Martin Steeves sold 72,867 shares of the firm’s stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of $136.78, for a total transaction of $9,966,748.26. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Walter M. Rosebrough, Jr. sold 119,000 shares of the firm’s stock in a transaction that occurred on Friday, May 31st. The stock was sold at an average price of $132.56, for a total transaction of $15,774,640.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 237,145 shares of company stock valued at $32,091,848. Corporate insiders own 2.36% of the company’s stock.

A number of research analysts have issued reports on STE shares. Zacks Investment Research raised shares of Steris from a “hold” rating to a “buy” rating and set a $146.00 target price for the company in a report on Tuesday, April 30th. JMP Securities increased their target price on shares of Steris from $135.00 to $150.00 and gave the company a “market outperform” rating in a report on Wednesday, May 22nd. Stephens increased their target price on shares of Steris from $135.00 to $150.00 and gave the company an “overweight” rating in a report on Wednesday, May 15th. Finally, KeyCorp increased their target price on shares of Steris from $135.00 to $138.00 and gave the company an “overweight” rating in a report on Wednesday, May 15th. Five investment analysts have rated the stock with a buy rating, Steris presently has an average rating of “Buy” and a consensus target price of $148.20.

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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