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.
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.
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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