STERIS plc (NYSE:STE) Announces Quarterly Dividend of $0.69

Key Points

• STERIS declared a quarterly dividend of $0.69 per share, payable December 17 to shareholders of record on November 17. The annualized dividend is $2.76, yielding approximately 1.2%.
• The company has increased its dividend for 20 consecutive years, with a current payout ratio of 25.1%, indicating the dividend is well covered by earnings.
• STERIS recently beat quarterly earnings expectations, reporting $2.59 in EPS versus the $2.49 consensus estimate, while revenue rose 7.3% year over year to $1.49 billion.

STERIS plc (NYSE:STE - Get Free Report) declared a quarterly dividend on Wednesday, October 28th. Stockholders of record on Tuesday, November 17th will be paid a dividend of $0.69 per share by the medical equipment provider on Thursday, December 17th. This represents a $2.76 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date is Tuesday, November 17th.

STERIS has raised its dividend by an average of 0.1% annually over the last three years and has raised its dividend every year for the last 20 years. STERIS has a dividend payout ratio of 25.1% meaning its dividend is sufficiently covered by earnings. Analysts expect STERIS to earn $12.40 per share next year, which means the company should continue to be able to cover its $2.76 annual dividend with an expected future payout ratio of 22.3%.

STERIS Stock Down 0.0%

Shares of STE stock opened at $228.46 on Thursday. The stock's 50 day simple moving average is $220.07 and its 200 day simple moving average is $225.49. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.35 and a current ratio of 1.91. STERIS has a twelve month low of $195.14 and a twelve month high of $269.44. The company has a market capitalization of $22.27 billion, a price-to-earnings ratio of 27.93 and a beta of 0.92.

STERIS (NYSE:STE - Get Free Report) last posted its earnings results on Wednesday, August 5th. The medical equipment provider reported $2.59 earnings per share for the quarter, topping the consensus estimate of $2.49 by $0.10. The firm had revenue of $1.49 billion during the quarter, compared to analyst estimates of $1.49 billion. STERIS had a return on equity of 14.34% and a net margin of 13.34%. The company's revenue for the quarter was up 7.3% on a year-over-year basis. During the same period in the previous year, the company earned $2.34 EPS. STERIS has set its FY 2027 guidance at 11.000-11.300 EPS. As a group, research analysts predict that STERIS will post 11.17 EPS for the current year.

Insider Activity at STERIS

In other news, Director Mohsen Sohi sold 4,058 shares of the stock in a transaction that occurred on Wednesday, August 12th. The stock was sold at an average price of $235.78, for a total value of $956,795.24. Following the completion of the sale, the director directly owned 24,305 shares of the company's stock, valued at approximately $5,730,632.90. This represents a 14.31% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.12% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On STERIS

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Western Wealth Management LLC bought a new position in STERIS in the 1st quarter valued at $25,000. Elevation Wealth Partners LLC boosted its stake in shares of STERIS by 1,130.0% in the 2nd quarter. Elevation Wealth Partners LLC now owns 123 shares of the medical equipment provider's stock valued at $26,000 after purchasing an additional 113 shares during the last quarter. Meramec Financial Planners LLC bought a new position in STERIS in the first quarter valued at approximately $33,000. Trust Co. of Vermont acquired a new stake in shares of STERIS during the second quarter worth $41,000. Finally, Community Financial Services Group LLC grew its position in shares of STERIS by 50.0% during the 3rd quarter. Community Financial Services Group LLC now owns 216 shares of the medical equipment provider's stock worth $45,000 after buying an additional 72 shares during the period. Institutional investors and hedge funds own 94.69% of the company's stock.

About STERIS

STERIS plc NYSE: STE provides products and services designed to support infection prevention, procedural care and the safe manufacture of healthcare and life sciences products. Its offerings include surgical equipment and operating-room solutions, sterilization and decontamination systems, endoscopy products, cleaning and disinfection technologies, and related consumable products.

The company also provides outsourced sterilization and laboratory services through its Applied Sterilization Technologies business.

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