Steris PLC (NYSE:STE) Short Interest Update

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Steris PLC (NYSE:STE) was the target of a large increase in short interest during the month of June. As of June 15th, there was short interest totalling 1,360,000 shares, an increase of 7.1% from the May 31st total of 1,270,000 shares. Approximately 1.6% of the shares of the company are short sold. Based on an average daily volume of 736,000 shares, the short-interest ratio is currently 1.8 days.

STE has been the topic of several recent analyst reports. Zacks Investment Research raised Steris from a “hold” rating to a “buy” rating and set a $174.00 target price on the stock in a research note on Friday, April 24th. Needham & Company LLC started coverage on Steris in a research note on Tuesday, June 9th. They set a “hold” rating on the stock. Finally, Stephens boosted their price objective on Steris from $145.00 to $170.00 and gave the stock an “overweight” rating in a research note on Friday, May 15th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $172.00.

Shares of NYSE STE opened at $153.17 on Tuesday. The company has a quick ratio of 1.91, a current ratio of 2.40 and a debt-to-equity ratio of 0.37. The stock has a market capitalization of $12.93 billion, a price-to-earnings ratio of 32.11 and a beta of 0.79. The stock’s fifty day simple moving average is $155.08 and its 200 day simple moving average is $151.35. Steris has a 52-week low of $105.69 and a 52-week high of $168.98.

Steris (NYSE:STE) last issued its earnings results on Wednesday, May 13th. The medical equipment provider reported $1.64 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.57 by $0.07. The business had revenue of $822.99 million for the quarter, compared to analysts’ expectations of $788.37 million. Steris had a return on equity of 16.34% and a net margin of 13.45%. During the same period in the previous year, the firm posted $1.53 EPS. As a group, analysts anticipate that Steris will post 5.25 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 26th. Stockholders of record on Friday, June 12th will be issued a dividend of $0.37 per share. The ex-dividend date of this dividend is Thursday, June 11th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 0.97%. Steris’s dividend payout ratio is 26.24%.

In related news, Director Mohsen Sohi sold 3,218 shares of the firm’s stock in a transaction that occurred on Friday, May 29th. The stock was sold at an average price of $164.12, for a total value of $528,138.16. Following the sale, the director now owns 25,579 shares of the company’s stock, valued at approximately $4,198,025.48. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 1.20% of the company’s stock.

Hedge funds have recently modified their holdings of the company. Bay Harbor Wealth Management LLC purchased a new position in shares of Steris during the first quarter valued at $29,000. Raab & Moskowitz Asset Management LLC purchased a new position in shares of Steris during the fourth quarter valued at $32,000. Contravisory Investment Management Inc. purchased a new position in shares of Steris during the first quarter valued at $30,000. CSat Investment Advisory L.P. purchased a new position in shares of Steris during the fourth quarter valued at $33,000. Finally, Americana Partners LLC purchased a new position in shares of Steris during the fourth quarter valued at $39,000. Institutional investors and hedge funds own 88.07% of the company’s stock.

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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