Wall Street brokerages expect Steris PLC (NYSE:STE) to post sales of $640.43 million for the current fiscal quarter, Zacks reports. Three analysts have made estimates for Steris’ earnings. The lowest sales estimate is $638.20 million and the highest is $644.40 million. Steris reported sales of $607.96 million during the same quarter last year, which indicates a positive year-over-year growth rate of 5.3%. The firm is expected to report its next quarterly earnings results on Tuesday, August 14th.
According to Zacks, analysts expect that Steris will report full-year sales of $2.75 billion for the current year, with estimates ranging from $2.75 billion to $2.76 billion. For the next year, analysts anticipate that the company will post sales of $2.90 billion per share, with estimates ranging from $2.88 billion to $2.91 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that cover Steris.
Steris (NYSE:STE) last issued its earnings results on Wednesday, May 9th. The medical equipment provider reported $1.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.22 by $0.02. Steris had a return on equity of 11.55% and a net margin of 11.10%. The business had revenue of $716.00 million during the quarter, compared to the consensus estimate of $703.37 million. During the same period last year, the company earned $1.11 EPS. The company’s revenue for the quarter was up 5.1% on a year-over-year basis.
Separately, Zacks Investment Research raised Steris from a “hold” rating to a “buy” rating and set a $103.00 target price for the company in a research note on Tuesday, March 27th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. Steris presently has an average rating of “Buy” and an average target price of $87.80.
In other news, CEO Walter M. Rosebrough, Jr. sold 10,000 shares of the stock in a transaction on Wednesday, May 9th. The stock was sold at an average price of $100.50, for a total transaction of $1,005,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Sudhir K. Pahwa sold 1,981 shares of the stock in a transaction on Wednesday, April 18th. The stock was sold at an average price of $97.11, for a total value of $192,374.91. The disclosure for this sale can be found here. Insiders sold a total of 55,395 shares of company stock valued at $5,698,019 over the last ninety days. Corporate insiders own 2.38% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. grew its holdings in shares of Steris by 4.1% during the 1st quarter. BlackRock Inc. now owns 7,476,972 shares of the medical equipment provider’s stock worth $698,051,000 after purchasing an additional 292,563 shares during the period. Massachusetts Financial Services Co. MA grew its holdings in shares of Steris by 8.4% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 2,164,389 shares of the medical equipment provider’s stock worth $202,068,000 after purchasing an additional 168,528 shares during the period. ArrowMark Colorado Holdings LLC grew its holdings in shares of Steris by 0.8% during the 4th quarter. ArrowMark Colorado Holdings LLC now owns 1,487,376 shares of the medical equipment provider’s stock worth $130,101,000 after purchasing an additional 11,742 shares during the period. American Century Companies Inc. grew its holdings in shares of Steris by 9.2% during the 1st quarter. American Century Companies Inc. now owns 1,304,248 shares of the medical equipment provider’s stock worth $121,765,000 after purchasing an additional 110,081 shares during the period. Finally, Victory Capital Management Inc. purchased a new position in Steris during the 1st quarter valued at about $114,441,000. Institutional investors and hedge funds own 90.70% of the company’s stock.
Shares of STE traded down $0.13 during midday trading on Friday, reaching $104.62. The company had a trading volume of 11,007 shares, compared to its average volume of 358,141. Steris has a 1-year low of $80.74 and a 1-year high of $107.97. The company has a market capitalization of $8.89 billion, a PE ratio of 25.24 and a beta of 1.13. The company has a quick ratio of 1.97, a current ratio of 2.48 and a debt-to-equity ratio of 0.41.
The business also recently announced a quarterly dividend, which will be paid on Thursday, June 28th. Shareholders of record on Friday, June 8th will be paid a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.19%. The ex-dividend date is Thursday, June 7th. Steris’s dividend payout ratio (DPR) is presently 29.88%.
STERIS plc develops, manufactures, and markets infection prevention, contamination control, microbial reduction, and surgical and gastrointestinal support products and services for healthcare, pharmaceutical, scientific, research, industrial, and governmental customers worldwide. The company's Healthcare Products segment offers steam, vaporized hydrogen peroxide, and ethylene oxide sterilizers, as well as liquid chemical sterilant processing systems; automated washer/disinfector systems; general and specialty surgical tables, surgical and examination lights, equipment management systems, operating room storage cabinets, warming cabinets, scrub sinks, and other accessories; and gastrointestinal devices and accessories.
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