STERIS plc (NYSE:STE) Short Interest Down 26.6% in November

STERIS plc (NYSE:STE) was the target of a large drop in short interest during the month of November. As of November 15th, there was short interest totalling 755,600 shares, a drop of 26.6% from the October 31st total of 1,030,000 shares. Currently, 0.8% of the company’s shares are short sold. Based on an average daily volume of 546,000 shares, the short-interest ratio is presently 1.4 days.

Wall Street Analysts Forecast Growth

STE has been the subject of a number of recent analyst reports. StockNews.com downgraded STERIS from a “strong-buy” rating to a “buy” rating in a report on Tuesday, October 29th. Needham & Company LLC reiterated a “hold” rating on shares of STERIS in a report on Friday, November 8th. JMP Securities reiterated a “market outperform” rating and set a $265.00 price target on shares of STERIS in a report on Monday, November 18th. Stephens restated an “overweight” rating and issued a $260.00 target price on shares of STERIS in a research note on Thursday, November 7th. Finally, Piper Sandler upgraded STERIS from a “neutral” rating to an “overweight” rating and raised their target price for the company from $230.00 to $260.00 in a research note on Thursday, October 24th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $253.00.

STERIS Stock Up 0.8 %

Shares of STE traded up $1.81 during trading hours on Friday, hitting $219.28. The stock had a trading volume of 342,972 shares, compared to its average volume of 497,351. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.41 and a quick ratio of 1.55. The firm has a 50 day simple moving average of $225.36 and a 200-day simple moving average of $228.43. The firm has a market capitalization of $21.65 billion, a P/E ratio of 49.65 and a beta of 0.85. STERIS has a 1-year low of $195.47 and a 1-year high of $248.24.

STERIS (NYSE:STE) last announced its quarterly earnings results on Wednesday, November 6th. The medical equipment provider reported $2.14 earnings per share for the quarter, beating the consensus estimate of $2.12 by $0.02. STERIS had a net margin of 8.02% and a return on equity of 13.78%. The business had revenue of $1.33 billion for the quarter, compared to analysts’ expectations of $1.33 billion. During the same quarter last year, the firm earned $2.03 EPS. The firm’s revenue for the quarter was up 7.3% compared to the same quarter last year. Sell-side analysts predict that STERIS will post 9.15 EPS for the current fiscal year.

STERIS Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Tuesday, November 19th will be given a $0.57 dividend. The ex-dividend date is Tuesday, November 19th. This represents a $2.28 annualized dividend and a yield of 1.04%. STERIS’s payout ratio is 52.05%.

Insider Buying and Selling

In related news, SVP Cary L. Majors sold 1,682 shares of the firm’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $217.32, for a total transaction of $365,532.24. Following the completion of the transaction, the senior vice president now directly owns 11,372 shares of the company’s stock, valued at $2,471,363.04. This trade represents a 12.88 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Michael J. Tokich sold 23,332 shares of the firm’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $247.00, for a total value of $5,763,004.00. Following the transaction, the chief financial officer now directly owns 42,930 shares of the company’s stock, valued at approximately $10,603,710. This represents a 35.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.14% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On STERIS

Large investors have recently added to or reduced their stakes in the business. Ashton Thomas Securities LLC bought a new position in STERIS in the 3rd quarter valued at about $25,000. Central Pacific Bank Trust Division bought a new position in shares of STERIS during the 3rd quarter worth approximately $28,000. Quent Capital LLC lifted its position in shares of STERIS by 112.7% during the 1st quarter. Quent Capital LLC now owns 134 shares of the medical equipment provider’s stock worth $30,000 after buying an additional 71 shares in the last quarter. Versant Capital Management Inc lifted its position in shares of STERIS by 2,262.5% during the 2nd quarter. Versant Capital Management Inc now owns 189 shares of the medical equipment provider’s stock worth $41,000 after buying an additional 181 shares in the last quarter. Finally, Brown Brothers Harriman & Co. lifted its position in shares of STERIS by 154.7% during the 2nd quarter. Brown Brothers Harriman & Co. now owns 191 shares of the medical equipment provider’s stock worth $42,000 after buying an additional 116 shares in the last quarter. Institutional investors own 94.69% of the company’s stock.

STERIS Company Profile

STERIS plc provides infection prevention products and services worldwide. It operates through four segments: Healthcare, Applied Sterilization Technologies, Life Sciences, and Dental. The Healthcare segment offers cleaning chemistries and sterility assurance products; automated endoscope reprocessing system and tracking products; endoscopy accessories, washers, sterilizers, and other pieces of capital equipment for the operation of a sterile processing department; and equipment used directly in the operating room, including surgical tables, lights, and connectivity solutions, as well as equipment management services.