Steris PLC (NYSE:STE) Raises Dividend to $0.37 Per Share

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.

Steris (NYSE:STE) last issued its quarterly earnings results on Monday, August 5th. The medical equipment provider reported $1.23 EPS for the quarter, beating the Zacks’ consensus estimate of $1.11 by $0.12. The business had revenue of $696.80 million for the quarter, compared to analysts’ expectations of $674.12 million. Steris had a net margin of 10.93% and a return on equity of 13.34%. The business’s quarterly revenue was up 9.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.00 earnings per share. Equities research analysts anticipate that Steris will post 5.37 EPS for the current fiscal year.

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.

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.

Featured Story: The limitations of an equal weight rating

Dividend History for Steris (NYSE:STE)

Receive News & Ratings for Steris Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Steris and related companies with MarketBeat.com's FREE daily email newsletter.