STERIS plc (NYSE:STE) Plans Dividend Increase – $0.69 Per Share

STERIS plc (NYSE:STE) declared a quarterly dividend on Thursday, July 30th. Stockholders of record on Friday, September 4th will be given a dividend of 0.69 per share by the medical equipment provider on Friday, September 25th. This represents a c) annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend is Friday, September 4th. This is a 9.5% increase from STERIS’s previous quarterly dividend of $0.63.

STERIS has increased its dividend by an average of 0.1%per year over the last three years and has increased its dividend annually for the last 20 consecutive years. STERIS has a dividend payout ratio of 22.9% meaning its dividend is sufficiently covered by earnings. Equities analysts expect STERIS to earn $11.94 per share next year, which means the company should continue to be able to cover its $2.52 annual dividend with an expected future payout ratio of 21.1%.

STERIS Trading Down 1.5%

STE opened at $231.32 on Friday. The stock has a market capitalization of $22.54 billion, a P/E ratio of 29.17 and a beta of 0.92. The company has a current ratio of 2.09, a quick ratio of 1.54 and a debt-to-equity ratio of 0.25. STERIS has a 12 month low of $195.14 and a 12 month high of $269.44. The firm’s fifty day simple moving average is $212.75 and its 200 day simple moving average is $226.54.

STERIS (NYSE:STE) last issued its quarterly earnings results on Monday, May 11th. The medical equipment provider reported $2.83 EPS for the quarter, missing analysts’ consensus estimates of $2.86 by ($0.03). STERIS had a net margin of 13.18% and a return on equity of 14.15%. The firm had revenue of $1.59 billion during the quarter, compared to the consensus estimate of $1.59 billion. During the same quarter last year, the firm earned $2.74 earnings per share. The business’s revenue for the quarter was up 6.7% on a year-over-year basis. STERIS has set its FY 2027 guidance at 11.100-11.300 EPS. As a group, research analysts anticipate that STERIS will post 11.18 EPS for the current fiscal year.

Insider Buying and Selling

In other STERIS news, Director Richard C. Breeden sold 1,481 shares of the company’s stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $209.51, for a total value of $310,284.31. Following the transaction, the director directly owned 38,964 shares of the company’s stock, valued at $8,163,347.64. This represents a 3.66% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Daniel A. Carestio sold 1,374 shares of STERIS stock in a transaction on Friday, June 5th. The stock was sold at an average price of $212.00, for a total value of $291,288.00. Following the sale, the chief executive officer directly owned 63,647 shares of the company’s stock, valued at $13,493,164. This represents a 2.11% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 7,328 shares of company stock valued at $1,554,051. Insiders own 1.12% of the company’s stock.

Institutional Investors Weigh In On STERIS

Several institutional investors have recently made changes to their positions in STE. Western Wealth Management LLC bought a new stake in shares of STERIS during the 1st quarter valued at $25,000. Elevation Wealth Partners LLC increased its holdings in STERIS by 1,130.0% in the 2nd quarter. Elevation Wealth Partners LLC now owns 123 shares of the medical equipment provider’s stock valued at $26,000 after buying an additional 113 shares during the period. Activest Wealth Management lifted its holdings in shares of STERIS by 423.8% during the 4th quarter. Activest Wealth Management now owns 110 shares of the medical equipment provider’s stock worth $28,000 after acquiring an additional 89 shares during the period. Measured Wealth Private Client Group LLC acquired a new stake in shares of STERIS during the 4th quarter worth approximately $28,000. Finally, Geneos Wealth Management Inc. raised its position in STERIS by 416.0% during the first quarter. Geneos Wealth Management Inc. now owns 129 shares of the medical equipment provider’s stock valued at $29,000 after purchasing an additional 104 shares in the last quarter. 94.69% of the stock is currently owned by institutional investors.

About STERIS

STERIS Corporation (NYSE: STE) is a global provider of infection prevention, contamination control and procedural products and services for the healthcare, life sciences, pharmaceutical and medical device industries. The company develops, manufactures and supports a broad portfolio of equipment and consumables designed to reduce risk of infection, maintain sterile environments and support critical clinical and manufacturing procedures.

Its offerings include sterilization and decontamination systems, instrument washers and washers-disinfectors, endoscope reprocessing solutions, surgical equipment and procedural disposables, and contamination-control products for cleanrooms and laboratories.