M&T Bank Corp Cuts Stock Holdings in Stericycle, Inc. (NASDAQ:SRCL)

M&T Bank Corp lessened its stake in Stericycle, Inc. (NASDAQ:SRCL) by 9.8% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 209,854 shares of the business services provider’s stock after selling 22,899 shares during the quarter. M&T Bank Corp owned approximately 0.23% of Stericycle worth $10,400,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Exchange Traded Concepts LLC boosted its holdings in Stericycle by 87.5% in the 3rd quarter. Exchange Traded Concepts LLC now owns 1,001 shares of the business services provider’s stock valued at $45,000 after purchasing an additional 467 shares during the last quarter. Stratos Wealth Partners LTD. lifted its position in shares of Stericycle by 4.9% during the 3rd quarter. Stratos Wealth Partners LTD. now owns 13,763 shares of the business services provider’s stock worth $615,000 after purchasing an additional 640 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Stericycle by 17.3% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 18,078 shares of the business services provider’s stock worth $808,000 after purchasing an additional 2,671 shares during the last quarter. Park Avenue Securities LLC purchased a new stake in shares of Stericycle during the 3rd quarter worth $256,000. Finally, Clarkston Capital Partners LLC lifted its position in Stericycle by 0.8% in the third quarter. Clarkston Capital Partners LLC now owns 6,524,331 shares of the business services provider’s stock valued at $291,703,000 after acquiring an additional 52,087 shares during the last quarter. Hedge funds and other institutional investors own 98.82% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Truist Financial reduced their price target on shares of Stericycle from $57.00 to $50.00 and set a “hold” rating for the company in a research report on Monday, April 29th. Royal Bank of Canada restated an “outperform” rating and issued a $69.00 price objective on shares of Stericycle in a research note on Thursday, March 7th. Robert W. Baird dropped their price objective on shares of Stericycle from $62.00 to $55.00 and set a “neutral” rating on the stock in a research note on Friday, April 26th. Stifel Nicolaus lifted their price objective on shares of Stericycle from $70.00 to $75.00 and gave the company a “buy” rating in a research note on Thursday, February 29th. Finally, Wells Fargo & Company lifted their price objective on shares of Stericycle from $40.00 to $48.00 and gave the company an “underweight” rating in a research note on Friday, March 1st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $59.40.

Stericycle Trading Up 3.1 %

Shares of Stericycle stock opened at $46.18 on Monday. Stericycle, Inc. has a 52-week low of $37.78 and a 52-week high of $57.06. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.55. The company’s 50-day simple moving average is $50.91 and its 200-day simple moving average is $48.32. The firm has a market cap of $4.29 billion, a price-to-earnings ratio of -209.91, a price-to-earnings-growth ratio of 2.49 and a beta of 1.12.

Stericycle (NASDAQ:SRCL) last issued its quarterly earnings results on Thursday, April 25th. The business services provider reported $0.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.54 by $0.03. The business had revenue of $664.90 million for the quarter, compared to analyst estimates of $676.42 million. Stericycle had a negative net margin of 0.74% and a positive return on equity of 7.31%. The business’s revenue was down 2.8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.49 earnings per share. As a group, equities research analysts anticipate that Stericycle, Inc. will post 2.32 earnings per share for the current year.

Stericycle Profile

Stericycle, Inc, together with its subsidiaries, provides regulated waste and compliance services in the United States, Europe, and internationally. The company offers regulated waste and compliance services, including regulated medical waste, sharps waste management and disposal, pharmaceutical waste management and disposal, chemotherapy waste and disposal, controlled substance waste disposal, healthcare hazardous waste, and integrated waste stream solutions; specialty services, such as MedDrop medication collection kiosks, safe community solutions, SafeDrop sharps mailback solutions, and airport and maritime waste services; medical supply store services, that includes sharps and disposable biohazardous waste containers, infection control supplies, and seal&send medication mail back; and compliance solutions including Steri-Safe compliance solutions.