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

Key Points

• STERIS raised its quarterly dividend 9.5% to $0.69 per share, payable September 25 to shareholders of record on September 4. The dividend represents an annualized payout of $2.76 and a yield of approximately 1.2%.
• The company has increased its dividend for 20 consecutive years, with a payout ratio of 22.9%, indicating substantial earnings coverage. Analysts expect a future payout ratio of about 21.1% based on projected earnings.
• STERIS reported quarterly revenue of $1.59 billion, up 6.7% year over year, while EPS of $2.83 fell slightly short of estimates. Shares opened at $231.32, and insiders sold 7,328 shares worth approximately $1.55 million during the latest quarter.

STERIS plc (NYSE:STE - Get Free Report) declared a quarterly dividend on Thursday, July 30th. Shareholders of record on Friday, September 4th will be given a dividend of 0.69 per share by the medical equipment provider on Friday, September 25th. This represents a c) annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend is Friday, September 4th. This is a 9.5% increase from STERIS's previous quarterly dividend of $0.63.

STERIS has increased its dividend payment by an average of 0.1%per year over the last three years and has raised its dividend annually for the last 20 consecutive years. STERIS has a dividend payout ratio of 22.9% indicating that its dividend is sufficiently covered by earnings. Research analysts expect STERIS to earn $11.94 per share next year, which means the company should continue to be able to cover its $2.52 annual dividend with an expected future payout ratio of 21.1%.

STERIS Stock Performance

Shares of STE stock opened at $231.32 on Friday. The stock's 50-day moving average is $212.75 and its two-hundred day moving average is $226.54. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.54 and a current ratio of 2.09. STERIS has a 1 year low of $195.14 and a 1 year high of $269.44. The firm has a market cap of $22.54 billion, a price-to-earnings ratio of 29.17 and a beta of 0.92.

STERIS (NYSE:STE - Get Free Report) last announced its earnings results on Monday, May 11th. The medical equipment provider reported $2.83 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.86 by ($0.03). STERIS had a net margin of 13.18% and a return on equity of 14.15%. The firm had revenue of $1.59 billion during the quarter, compared to analyst estimates of $1.59 billion. During the same period last year, the company earned $2.74 earnings per share. The firm's revenue for the quarter was up 6.7% compared to the same quarter last year. STERIS has set its FY 2027 guidance at 11.100-11.300 EPS. Analysts predict that STERIS will post 11.18 earnings per share for the current year.

Insider Buying and Selling at STERIS

In related news, CEO Daniel A. Carestio sold 3,054 shares of the firm's stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $214.64, for a total value of $655,510.56. Following the transaction, the chief executive officer owned 65,021 shares in the company, valued at approximately $13,956,107.44. This trade represents a 4.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP John Adam Zangerle sold 1,419 shares of the business's stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $209.28, for a total transaction of $296,968.32. Following the sale, the vice president owned 35,259 shares of the company's stock, valued at approximately $7,379,003.52. This represents a 3.87% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 7,328 shares of company stock worth $1,554,051 in the last quarter. 1.12% of the stock is owned by insiders.

Institutional Trading of STERIS

Several large investors have recently added to or reduced their stakes in the stock. Trust Co. of Vermont grew its stake in shares of STERIS by 30.2% during the fourth quarter. Trust Co. of Vermont now owns 164 shares of the medical equipment provider's stock worth $42,000 after purchasing an additional 38 shares during the period. Bailard Inc. boosted its holdings in STERIS by 3.5% during the fourth quarter. Bailard Inc. now owns 1,118 shares of the medical equipment provider's stock worth $283,000 after buying an additional 38 shares during the last quarter. Geneos Wealth Management Inc. grew its position in shares of STERIS by 34.9% during the 2nd quarter. Geneos Wealth Management Inc. now owns 174 shares of the medical equipment provider's stock worth $42,000 after buying an additional 45 shares during the period. Ascent Group LLC raised its position in shares of STERIS by 4.9% in the 4th quarter. Ascent Group LLC now owns 1,009 shares of the medical equipment provider's stock valued at $256,000 after acquiring an additional 47 shares during the period. Finally, Clear Harbor Asset Management LLC increased its stake in STERIS by 3.8% in the fourth quarter. Clear Harbor Asset Management LLC now owns 1,350 shares of the medical equipment provider's stock valued at $342,000 after purchasing an additional 50 shares in the last quarter. 94.69% of the stock is currently owned by institutional investors and hedge funds.

STERIS Company Profile

STERIS Corporation NYSE: STE is a global provider of infection prevention, contamination control and procedural products and services for the healthcare, life sciences, pharmaceutical and medical device industries. The company develops, manufactures and supports a broad portfolio of equipment and consumables designed to reduce risk of infection, maintain sterile environments and support critical clinical and manufacturing procedures.

Its offerings include sterilization and decontamination systems, instrument washers and washers-disinfectors, endoscope reprocessing solutions, surgical equipment and procedural disposables, and contamination-control products for cleanrooms and laboratories.

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