Principal Financial Group Inc. Has $17.96 Million Stake in Stericycle, Inc. (NASDAQ:SRCL)

Principal Financial Group Inc. decreased its stake in shares of Stericycle, Inc. (NASDAQ:SRCL) by 11.3% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 308,935 shares of the business services provider’s stock after selling 39,389 shares during the quarter. Principal Financial Group Inc. owned about 0.33% of Stericycle worth $17,958,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Capital Research Global Investors increased its position in 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 during the last quarter. Sei Investments Co. boosted its stake in Stericycle by 35.5% in the fourth quarter. Sei Investments Co. now owns 1,061,369 shares of the business services provider’s stock valued at $52,601,000 after buying an additional 277,896 shares in the last quarter. Earnest Partners LLC grew its holdings in shares of Stericycle by 12.4% during the 1st quarter. Earnest Partners LLC now owns 2,460,020 shares of the business services provider’s stock valued at $129,766,000 after purchasing an additional 271,025 shares during the last quarter. Heartland Advisors Inc. grew its stake 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 buying an additional 208,256 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in Stericycle by 10.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,971,719 shares of the business services provider’s stock worth $97,720,000 after purchasing an additional 192,045 shares in the last quarter. 98.82% of the stock is currently owned by institutional investors and hedge funds.

Stericycle Price Performance

Shares of NASDAQ SRCL opened at $59.30 on Thursday. The stock’s 50 day moving average price is $58.56 and its 200-day moving average price is $54.02. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.55. Stericycle, Inc. has a twelve month low of $37.78 and a twelve month high of $59.45. The company has a market capitalization of $5.51 billion, a PE ratio of -269.55, a PEG ratio of 3.23 and a beta of 1.11.

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 analysts’ consensus estimates of $0.57 by $0.04. The firm had revenue of $661.60 million during the quarter, compared to the consensus estimate of $672.07 million. Stericycle had a net margin of 1.37% and a return on equity of 7.94%. On average, equities analysts anticipate that Stericycle, Inc. will post 2.29 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. Royal Bank of Canada restated a “sector perform” rating and issued a $62.00 price target (down from $69.00) on shares of Stericycle in a research report on Tuesday, June 4th. Keefe, Bruyette & Woods boosted their price target on Stericycle from $135.00 to $142.00 and gave the company an “outperform” rating in a research note on Tuesday, June 4th. Truist Financial increased their price objective on shares of Stericycle from $50.00 to $62.00 and gave the stock a “hold” rating in a research report on Tuesday, June 4th. Finally, StockNews.com began coverage on shares of Stericycle in a research note on Sunday. They set a “hold” rating for the company. One investment analyst has rated the stock with a sell rating, four have given 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 target price of $74.00.

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.