STERIS plc (NYSE:STE) Short Interest Up 24.1% in November

STERIS plc (NYSE:STE) was the recipient of a large increase in short interest in November. As of November 30th, there was short interest totalling 937,500 shares, an increase of 24.1% from the November 15th total of 755,600 shares. Currently, 1.0% of the company’s shares are sold short. Based on an average daily volume of 563,100 shares, the days-to-cover ratio is currently 1.7 days.

STERIS Trading Down 1.0 %

NYSE:STE opened at $214.22 on Monday. STERIS has a 52 week low of $197.82 and a 52 week high of $248.24. The company has a quick ratio of 1.55, a current ratio of 2.41 and a debt-to-equity ratio of 0.33. The company has a market cap of $21.15 billion, a PE ratio of 48.91 and a beta of 0.83. The business’s 50 day moving average is $220.80 and its two-hundred day moving average is $227.30.

STERIS (NYSE:STE) last announced its quarterly earnings data on Wednesday, November 6th. The medical equipment provider reported $2.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.12 by $0.02. STERIS had a return on equity of 13.78% and a net margin of 8.02%. The firm had revenue of $1.33 billion for the quarter, compared to analysts’ expectations of $1.33 billion. During the same period last year, the business posted $2.03 earnings per share. The firm’s revenue for the quarter was up 7.3% on a year-over-year basis. On average, analysts predict that STERIS will post 9.1 EPS for the current year.

STERIS Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Tuesday, November 19th will be given a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 1.06%. The ex-dividend date is Tuesday, November 19th. STERIS’s dividend payout ratio is presently 52.05%.

Insider Buying and Selling

In other news, SVP Cary L. Majors sold 1,682 shares of the company’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $217.32, for a total value of $365,532.24. Following the completion of the transaction, the senior vice president now directly owns 11,372 shares in the company, valued at approximately $2,471,363.04. This represents a 12.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.14% of the company’s stock.

Institutional Investors Weigh In On STERIS

Institutional investors and hedge funds have recently bought and sold shares of the business. Massachusetts Financial Services Co. MA grew its holdings in shares of STERIS by 13.7% during the second quarter. Massachusetts Financial Services Co. MA now owns 6,442,805 shares of the medical equipment provider’s stock valued at $1,414,453,000 after purchasing an additional 778,613 shares during the last quarter. Geode Capital Management LLC boosted its position in STERIS by 0.7% during the 3rd quarter. Geode Capital Management LLC now owns 2,303,625 shares of the medical equipment provider’s stock valued at $556,786,000 after purchasing an additional 17,007 shares during the period. Impax Asset Management Group plc grew its stake in STERIS by 29.7% during the 2nd quarter. Impax Asset Management Group plc now owns 1,150,517 shares of the medical equipment provider’s stock worth $251,663,000 after buying an additional 263,383 shares during the last quarter. Principal Financial Group Inc. increased its position in STERIS by 9.5% in the third quarter. Principal Financial Group Inc. now owns 1,114,224 shares of the medical equipment provider’s stock worth $270,230,000 after buying an additional 96,336 shares during the period. Finally, Dimensional Fund Advisors LP lifted its stake in STERIS by 12.8% in the second quarter. Dimensional Fund Advisors LP now owns 840,194 shares of the medical equipment provider’s stock valued at $184,439,000 after buying an additional 95,412 shares during the last quarter. Institutional investors and hedge funds own 94.69% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on STE shares. Needham & Company LLC restated a “hold” rating on shares of STERIS in a research note on Friday, November 8th. JMP Securities restated a “market outperform” rating and set a $265.00 price objective on shares of STERIS in a research note on Monday, November 18th. Piper Sandler raised STERIS from a “neutral” rating to an “overweight” rating and upped their target price for the company from $230.00 to $260.00 in a research report on Thursday, October 24th. Stephens reissued an “overweight” rating and set a $260.00 price target on shares of STERIS in a research report on Thursday, November 7th. Finally, StockNews.com cut shares of STERIS from a “strong-buy” rating to a “buy” rating in a report on Tuesday, October 29th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $262.50.

About STERIS

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.