Steris PLC (NYSE:STE) Short Interest Update

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Steris PLC (NYSE:STE) was the target of a significant drop in short interest in the month of July. As of July 15th, there was short interest totalling 855,500 shares, a drop of 6.2% from the June 30th total of 911,800 shares. Approximately 1.0% of the shares of the company are short sold. Based on an average trading volume of 564,000 shares, the days-to-cover ratio is presently 1.5 days.

STE opened at $158.00 on Wednesday. The company has a market capitalization of $13.42 billion, a price-to-earnings ratio of 33.12 and a beta of 0.77. 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 firm has a 50-day moving average price of $154.73 and a 200-day moving average price of $152.04. Steris has a twelve month low of $105.69 and a twelve month high of $168.98.

Steris (NYSE:STE) last released its quarterly earnings data on Monday, August 3rd. The medical equipment provider reported $1.31 earnings per share for the quarter, beating analysts’ consensus estimates of $0.98 by $0.33. The business had revenue of $668.90 million during the quarter, compared to analyst estimates of $643.38 million. Steris had a net margin of 13.45% and a return on equity of 16.34%. Steris’s revenue was down 4.0% compared to the same quarter last year. During the same period in the previous year, the business earned $1.23 EPS. On average, sell-side analysts expect that Steris will post 5.23 earnings per share for the current fiscal year.

A number of research firms have recently weighed in on STE. Stephens increased their target price on shares of Steris from $145.00 to $170.00 and gave the company an “overweight” rating in a research report on Friday, May 15th. Needham & Company LLC started coverage on Steris in a report on Monday. They set a “hold” rating for the company. Finally, Zacks Investment Research lowered Steris from a “hold” rating to a “sell” rating and set a $158.00 target price on the stock. in a research note on Tuesday, July 14th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $164.00.

In other Steris news, Director Mohsen Sohi sold 3,218 shares of the business’s stock in a transaction 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 transaction, the director now owns 25,579 shares of the company’s stock, valued at $4,198,025.48. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 1.20% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the stock. DekaBank Deutsche Girozentrale grew its holdings in Steris by 1.8% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 9,464 shares of the medical equipment provider’s stock valued at $1,466,000 after buying an additional 164 shares in the last quarter. Strategic Investment Advisors MI boosted its position in shares of Steris by 5.5% in the second quarter. Strategic Investment Advisors MI now owns 1,675 shares of the medical equipment provider’s stock valued at $257,000 after acquiring an additional 88 shares during the period. Foster Victor Wealth Advisors LLC purchased a new position in Steris during the second quarter valued at approximately $313,000. Profund Advisors LLC increased its holdings in Steris by 30.0% during the 2nd quarter. Profund Advisors LLC now owns 2,385 shares of the medical equipment provider’s stock worth $366,000 after acquiring an additional 551 shares during the period. Finally, ProShare Advisors LLC lifted its stake in Steris by 15.6% in the 2nd quarter. ProShare Advisors LLC now owns 10,177 shares of the medical equipment provider’s stock worth $1,562,000 after purchasing an additional 1,370 shares in the last quarter. 87.85% of the stock is currently owned by institutional investors and hedge funds.

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.

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