Steris PLC (NYSE:STE) Short Interest Update

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Steris PLC (NYSE:STE) was the target of a large decline in short interest during the month of October. As of October 31st, there was short interest totalling 928,000 shares, a decline of 25.8% from the September 30th total of 1,250,000 shares. Based on an average trading volume of 476,800 shares, the days-to-cover ratio is currently 1.9 days. Currently, 1.1% of the shares of the stock are short sold.

Separately, ValuEngine cut Steris from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $148.20.

In related news, VP John Adam Zangerle sold 1,000 shares of Steris stock in a transaction on Friday, October 4th. The stock was sold at an average price of $142.15, for a total value of $142,150.00. Insiders own 2.36% of the company’s stock.

Several hedge funds have recently modified their holdings of the company. First Allied Advisory Services Inc. boosted its position in Steris by 18.4% during the third quarter. First Allied Advisory Services Inc. now owns 2,260 shares of the medical equipment provider’s stock valued at $324,000 after purchasing an additional 351 shares during the last quarter. BBVA USA Bancshares Inc. lifted its position in shares of Steris by 32.5% in the third quarter. BBVA USA Bancshares Inc. now owns 3,180 shares of the medical equipment provider’s stock worth $460,000 after buying an additional 780 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of Steris by 5.7% in the third quarter. Massachusetts Financial Services Co. MA now owns 1,701,585 shares of the medical equipment provider’s stock worth $245,863,000 after buying an additional 91,077 shares during the last quarter. Knuff & Co LLC acquired a new stake in shares of Steris in the third quarter worth about $29,000. Finally, GW&K Investment Management LLC lifted its position in shares of Steris by 13.5% in the third quarter. GW&K Investment Management LLC now owns 309,350 shares of the medical equipment provider’s stock worth $44,698,000 after buying an additional 36,911 shares during the last quarter. Institutional investors and hedge funds own 87.58% of the company’s stock.

Shares of NYSE STE traded up $1.13 during mid-day trading on Thursday, reaching $146.74. The company had a trading volume of 289,868 shares, compared to its average volume of 474,063. The company has a current ratio of 2.41, a quick ratio of 1.86 and a debt-to-equity ratio of 0.73. The stock has a market cap of $12.25 billion, a PE ratio of 30.01 and a beta of 0.88. The company has a 50-day moving average price of $142.04 and a two-hundred day moving average price of $143.53. Steris has a 1-year low of $99.14 and a 1-year high of $156.66.

Steris (NYSE:STE) last issued its quarterly earnings results on Monday, November 4th. The medical equipment provider reported $1.32 earnings per share for the quarter, beating analysts’ consensus estimates of $1.26 by $0.06. Steris had a return on equity of 16.15% and a net margin of 11.59%. The business had revenue of $736.84 million for the quarter, compared to the consensus estimate of $717.79 million. During the same quarter in the previous year, the company posted $1.10 earnings per share. Steris’s revenue for the quarter was up 8.5% compared to the same quarter last year. On average, research analysts expect that Steris will post 5.6 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Tuesday, November 26th will be issued a dividend of $0.37 per share. The ex-dividend date of this dividend is Monday, November 25th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.01%. Steris’s dividend payout ratio is 30.27%.

Steris Company Profile

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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