Steris PLC (NYSE:STE) announced a quarterly dividend on Monday, August 5th, Zacks reports. Shareholders of record on Tuesday, September 10th will be paid a dividend of 0.37 per share by the medical equipment provider on Thursday, September 26th. This represents a $1.48 dividend on an annualized basis and a yield of 0.99%. The ex-dividend date is Monday, September 9th. This is an increase from Steris’s previous quarterly dividend of $0.34.
Steris has increased its dividend payment by an average of 10.6% annually over the last three years and has increased its dividend every year for the last 9 years. Steris has a dividend payout ratio of 31.4% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Steris to earn $5.92 per share next year, which means the company should continue to be able to cover its $1.48 annual dividend with an expected future payout ratio of 25.0%.
STE traded down $3.07 during trading on Wednesday, reaching $149.25. 12,650 shares of the stock traded hands, compared to its average volume of 424,870. The company has a quick ratio of 1.82, a current ratio of 2.27 and a debt-to-equity ratio of 0.37. The stock has a market capitalization of $12.88 billion, a PE ratio of 30.60 and a beta of 0.98. The company has a 50-day simple moving average of $148.38. Steris has a 12 month low of $99.14 and a 12 month high of $154.09.
In other news, CEO Walter M. Rosebrough, Jr. sold 119,000 shares of the company’s stock in a transaction dated Friday, May 31st. The shares were sold at an average price of $132.56, for a total transaction of $15,774,640.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Karen L. Burton sold 1,387 shares of the company’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $133.89, for a total transaction of $185,705.43. The disclosure for this sale can be found here. Insiders have sold 244,145 shares of company stock worth $33,121,338 in the last quarter. Company insiders own 2.36% of the company’s stock.
STE has been the topic of a number of research analyst reports. KeyCorp upped their price target on shares of Steris from $135.00 to $138.00 and gave the company an “overweight” rating in a research report on Wednesday, May 15th. Zacks Investment Research raised shares of Steris from a “hold” rating to a “buy” rating and set a $146.00 price target on the stock in a research report on Tuesday, April 30th. JMP Securities upped their price target on shares of 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 shares of Steris from $135.00 to $150.00 and gave the company an “overweight” rating in a research report on Wednesday, May 15th. Five analysts have rated the stock with a buy rating, Steris has an average rating of “Buy” and a consensus price target 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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