Short Interest in STERIS plc (NYSE:STE) Declines By 20.1%

STERIS plc (NYSE:STE - Get Free Report) was the recipient of a significant drop in short interest in May. As of May 15th, there was short interest totalling 1,070,000 shares, a drop of 20.1% from the April 30th total of 1,340,000 shares. Based on an average daily trading volume, of 662,600 shares, the short-interest ratio is currently 1.6 days. Currently, 1.1% of the shares of the stock are short sold.

Analyst Ratings Changes

Several analysts have commented on the stock. Citigroup reaffirmed an "outperform" rating on shares of STERIS in a research report on Friday, May 16th. Morgan Stanley boosted their price objective on STERIS from $240.00 to $260.00 and gave the stock an "equal weight" rating in a report on Monday, May 19th. JMP Securities lifted their price target on shares of STERIS from $265.00 to $280.00 and gave the stock a "market outperform" rating in a research note on Friday, May 16th. Needham & Company LLC reaffirmed a "hold" rating on shares of STERIS in a research note on Monday, April 7th. Finally, Stephens reaffirmed an "overweight" rating and issued a $250.00 price target on shares of STERIS in a research note on Thursday, May 15th. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $263.83.

STERIS Trading Up 0.5%

Shares of NYSE:STE traded up $1.27 on Tuesday, hitting $243.35. 555,012 shares of the company's stock were exchanged, compared to its average volume of 544,850. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.13 and a quick ratio of 1.40. The stock has a market capitalization of $23.91 billion, a price-to-earnings ratio of 51.67 and a beta of 0.96. The business's 50 day simple moving average is $228.80 and its two-hundred day simple moving average is $221.06. STERIS has a 12 month low of $200.98 and a 12 month high of $252.79.

STERIS (NYSE:STE - Get Free Report) last issued its quarterly earnings data on Wednesday, May 14th. The medical equipment provider reported $2.74 EPS for the quarter, beating the consensus estimate of $2.59 by $0.15. STERIS had a return on equity of 13.91% and a net margin of 8.66%. The firm had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.47 billion. During the same quarter in the prior year, the business posted $2.58 EPS. The business's revenue for the quarter was up 5.7% compared to the same quarter last year. Analysts anticipate that STERIS will post 9.08 EPS for the current fiscal year.

STERIS Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 26th. Investors of record on Tuesday, June 10th will be given a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a dividend yield of 0.94%. The ex-dividend date of this dividend is Tuesday, June 10th. STERIS's payout ratio is 36.77%.

Insider Buying and Selling at STERIS

In related news, SVP Cary L. Majors sold 12,828 shares of the business's stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $250.08, for a total value of $3,208,026.24. Following the transaction, the senior vice president now owns 11,372 shares in the company, valued at $2,843,909.76. The trade was a 53.01% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 1.14% of the company's stock.

Institutional Trading of STERIS

A number of hedge funds have recently bought and sold shares of the business. Exchange Traded Concepts LLC boosted its holdings in STERIS by 27.5% during the 4th quarter. Exchange Traded Concepts LLC now owns 789 shares of the medical equipment provider's stock valued at $162,000 after acquiring an additional 170 shares during the period. Blue Trust Inc. increased its position in STERIS by 19.9% during the fourth quarter. Blue Trust Inc. now owns 1,128 shares of the medical equipment provider's stock worth $232,000 after buying an additional 187 shares during the period. Comprehensive Financial Consultants Institutional Inc. raised its position in STERIS by 7.2% in the 4th quarter. Comprehensive Financial Consultants Institutional Inc. now owns 9,456 shares of the medical equipment provider's stock valued at $1,944,000 after purchasing an additional 638 shares during the last quarter. Deroy & Devereaux Private Investment Counsel Inc. boosted its stake in shares of STERIS by 0.6% during the fourth quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 17,355 shares of the medical equipment provider's stock worth $3,567,000 after buying an additional 105 shares during the period. Finally, Magnolia Capital Advisors LLC lifted its position in STERIS by 1.9% during the 4th quarter. Magnolia Capital Advisors LLC now owns 2,534 shares of the medical equipment provider's stock worth $521,000 after acquiring an additional 48 shares during the period. Institutional investors and hedge funds own 94.69% of the company's stock.

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.