State of Michigan Retirement System Trims Stock Holdings in Stericycle, Inc. (NASDAQ:SRCL)

State of Michigan Retirement System lessened its stake in shares of Stericycle, Inc. (NASDAQ:SRCL) by 1.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 22,319 shares of the business services provider’s stock after selling 400 shares during the quarter. State of Michigan Retirement System’s holdings in Stericycle were worth $1,297,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the company. Capital Research Global Investors grew its holdings in shares of Stericycle by 13.4% during the fourth quarter. Capital Research Global Investors now owns 5,987,937 shares of the business services provider’s stock worth $296,762,000 after buying an additional 705,586 shares in the last quarter. Sei Investments Co. raised its holdings in Stericycle by 35.5% in the 4th quarter. Sei Investments Co. now owns 1,061,369 shares of the business services provider’s stock valued at $52,601,000 after acquiring an additional 277,896 shares during the last quarter. Earnest Partners LLC boosted its holdings in shares of Stericycle by 12.4% during the first quarter. Earnest Partners LLC now owns 2,460,020 shares of the business services provider’s stock worth $129,766,000 after purchasing an additional 271,025 shares during the last quarter. Heartland Advisors Inc. boosted its holdings in shares of Stericycle by 55.5% during the fourth quarter. Heartland Advisors Inc. now owns 583,545 shares of the business services provider’s stock worth $29,733,000 after purchasing an additional 208,256 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in Stericycle by 10.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,971,719 shares of the business services provider’s stock valued at $97,720,000 after purchasing an additional 192,045 shares during the last quarter. Institutional investors and hedge funds own 98.82% of the company’s stock.

Analyst Ratings Changes

A number of analysts have issued reports on SRCL shares. StockNews.com started coverage on Stericycle in a research note on Saturday, August 24th. They issued a “hold” rating on the stock. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $62.00 price target (down previously from $69.00) on shares of Stericycle in a research report on Tuesday, June 4th. Keefe, Bruyette & Woods lifted their price target on shares of Stericycle from $135.00 to $142.00 and gave the company an “outperform” rating in a report on Tuesday, June 4th. Finally, Truist Financial boosted their price objective on shares of Stericycle from $50.00 to $62.00 and gave the company a “hold” rating in a research note on Tuesday, June 4th. One analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat, Stericycle has an average rating of “Hold” and a consensus price target of $74.00.

Stericycle Stock Performance

Stericycle stock opened at $59.01 on Friday. The firm has a fifty day moving average of $58.43 and a 200-day moving average of $53.71. Stericycle, Inc. has a 52-week low of $37.78 and a 52-week high of $59.45. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.13 and a quick ratio of 1.13.

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

Stericycle Company 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.