StockNews.com Begins Coverage on Stericycle (NASDAQ:SRCL)

StockNews.com began coverage on shares of Stericycle (NASDAQ:SRCL) in a research note issued to investors on Monday. The firm issued a hold rating on the business services provider’s stock.

Several other equities analysts also recently commented on the company. Truist Financial boosted their price objective on Stericycle from $50.00 to $62.00 and gave the company a hold rating in a research report on Tuesday, June 4th. Royal Bank of Canada restated a sector perform rating and issued a $62.00 price objective (down from $69.00) on shares of Stericycle in a research report on Tuesday, June 4th. Finally, Keefe, Bruyette & Woods boosted their price objective on Stericycle from $135.00 to $142.00 and gave the company an outperform rating in a research report on Tuesday, June 4th. One analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, Stericycle currently has a consensus rating of Hold and an average target price of $74.00.

Stericycle Price Performance

NASDAQ SRCL opened at $61.67 on Monday. The company has a market capitalization of $5.73 billion, a PE ratio of -280.32, a price-to-earnings-growth ratio of 3.36 and a beta of 1.11. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.13 and a current ratio of 1.13. The business’s fifty day moving average is $58.86 and its 200 day moving average is $54.42. Stericycle has a fifty-two week low of $37.78 and a fifty-two week high of $61.76.

Stericycle (NASDAQ:SRCL) last released its earnings results on Thursday, July 25th. The business services provider reported $0.61 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.04. The company had revenue of $661.60 million for the quarter, compared to the consensus estimate of $672.07 million. Stericycle had a return on equity of 7.94% and a net margin of 1.37%. Sell-side analysts predict that Stericycle will post 2.29 earnings per share for the current year.

Institutional Investors Weigh In On Stericycle

A number of hedge funds have recently made changes to their positions in the company. Sanctuary Advisors LLC purchased a new stake in shares of Stericycle in the second quarter worth about $913,000. Quarry LP lifted its position in shares of Stericycle by 121.3% in the second quarter. Quarry LP now owns 1,476 shares of the business services provider’s stock worth $86,000 after buying an additional 809 shares in the last quarter. Water Island Capital LLC purchased a new stake in shares of Stericycle in the second quarter worth about $17,550,000. Northwestern Mutual Wealth Management Co. lifted its position in shares of Stericycle by 74.9% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,569 shares of the business services provider’s stock worth $91,000 after buying an additional 672 shares in the last quarter. Finally, Creative Planning lifted its position in shares of Stericycle by 13.4% in the second quarter. Creative Planning now owns 5,710 shares of the business services provider’s stock worth $332,000 after buying an additional 673 shares in the last quarter. 98.82% of the stock is currently owned by hedge funds and other institutional investors.

About Stericycle

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.