STERIS PLC (NYSE:STE) – Equities researchers at KeyCorp lowered their Q2 2018 EPS estimates for STERIS PLC in a report issued on Wednesday. KeyCorp analyst M. Mishan now anticipates that the medical equipment provider will post earnings per share of $0.92 for the quarter, down from their prior estimate of $0.93. KeyCorp has a “Overweight” rating and a $89.00 price target on the stock. KeyCorp also issued estimates for STERIS PLC’s Q3 2018 earnings at $1.08 EPS and Q4 2018 earnings at $1.20 EPS.
Other analysts have also issued reports about the stock. BidaskClub lowered shares of STERIS PLC from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 31st. Zacks Investment Research raised shares of STERIS PLC from a “hold” rating to a “buy” rating and set a $92.00 price target for the company in a research note on Tuesday, July 11th. Wellington Shields lowered shares of STERIS PLC from a “gradually accumulate” rating to a “hold” rating in a research note on Monday, June 5th. Finally, Raymond James Financial, Inc. upped their price target on shares of STERIS PLC from $90.00 to $95.00 and gave the stock an “outperform” rating in a research note on Wednesday. Two analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $86.75.
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STERIS PLC (NYSE STE) traded up 0.35% during trading on Thursday, reaching $84.94. 358,659 shares of the company’s stock traded hands. STERIS PLC has a 1-year low of $63.80 and a 1-year high of $87.49. The stock has a 50-day moving average price of $82.58 and a 200 day moving average price of $75.07. The stock has a market capitalization of $7.24 billion, a P/E ratio of 60.76 and a beta of 1.33.
STERIS PLC (NYSE:STE) last released its quarterly earnings data on Tuesday, August 8th. The medical equipment provider reported $0.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.80 by $0.05. STERIS PLC had a net margin of 4.63% and a return on equity of 11.39%. The company had revenue of $608 million during the quarter, compared to the consensus estimate of $597.66 million. During the same quarter in the prior year, the firm posted $0.79 earnings per share. STERIS PLC’s revenue for the quarter was down 4.8% on a year-over-year basis.
The business also recently declared a quarterly dividend, which will be paid on Thursday, September 28th. Stockholders of record on Tuesday, August 29th will be paid a $0.31 dividend. This is a positive change from STERIS PLC’s previous quarterly dividend of $0.28. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.46%. The ex-dividend date is Friday, August 25th. STERIS PLC’s dividend payout ratio is currently 80.00%.
In related news, insider Daniel A. Carestio sold 4,745 shares of the business’s stock in a transaction that occurred on Tuesday, June 13th. The shares were sold at an average price of $80.08, for a total value of $379,979.60. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Walter M. Rosebrough, Jr. sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, June 2nd. The stock was sold at an average price of $80.05, for a total transaction of $800,500.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 33,084 shares of company stock valued at $2,668,633. Company insiders own 2.55% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in the company. Legato Capital Management LLC increased its stake in STERIS PLC by 6,926.1% in the first quarter. Legato Capital Management LLC now owns 5,944,248 shares of the medical equipment provider’s stock worth $85,578,000 after buying an additional 5,859,646 shares during the last quarter. BlackRock Inc. increased its stake in STERIS PLC by 16,597.1% in the first quarter. BlackRock Inc. now owns 5,272,105 shares of the medical equipment provider’s stock worth $366,200,000 after buying an additional 5,240,530 shares during the last quarter. Wellington Management Group LLP increased its stake in STERIS PLC by 77.8% in the first quarter. Wellington Management Group LLP now owns 6,529,610 shares of the medical equipment provider’s stock worth $453,547,000 after buying an additional 2,856,744 shares during the last quarter. Bessemer Group Inc. increased its stake in STERIS PLC by 944,971.1% in the second quarter. Bessemer Group Inc. now owns 1,342,001 shares of the medical equipment provider’s stock worth $109,373,000 after buying an additional 1,341,859 shares during the last quarter. Finally, Principal Financial Group Inc. increased its stake in STERIS PLC by 115.1% in the second quarter. Principal Financial Group Inc. now owns 1,911,958 shares of the medical equipment provider’s stock worth $155,825,000 after buying an additional 1,023,035 shares during the last quarter. Institutional investors and hedge funds own 91.80% of the company’s stock.
About STERIS PLC
STERIS plc provides infection prevention and other procedural products and services. The Company operates through four segments: Healthcare Products, which offers infection prevention and procedural solutions for healthcare providers, including capital equipment and related maintenance, and installation services, as well as consumables; Healthcare Specialty Services, which provides a range of specialty services for healthcare providers, including hospital sterilization services, instrument and scope repairs, and linen management; Life Sciences, which offers capital equipment and consumable products, and equipment maintenance and specialty services for pharmaceutical manufacturers and research facilities, and Applied Sterilization Technologies, which offers contract sterilization and laboratory services for medical device and pharmaceutical customers and others.
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