Stericycle (NASDAQ:SRCL) Sees Large Volume Increase

Stericycle, Inc. (NASDAQ:SRCL) saw unusually-high trading volume on Wednesday . Approximately 3,090,340 shares traded hands during mid-day trading, an increase of 177% from the previous session’s volume of 1,116,986 shares.The stock last traded at $61.17 and had previously closed at $61.71.

Analyst Ratings Changes

Several research analysts have recently weighed in on SRCL shares. Royal Bank of Canada reiterated a “sector perform” rating and set a $62.00 price objective (down from $69.00) on shares of Stericycle in a report on Tuesday, June 4th. Keefe, Bruyette & Woods increased their price target on shares of Stericycle from $135.00 to $142.00 and gave the stock an “outperform” rating in a research note on Tuesday, June 4th. Truist Financial lifted their price target on shares of Stericycle from $50.00 to $62.00 and gave the company a “hold” rating in a report on Tuesday, June 4th. Finally, StockNews.com initiated coverage on Stericycle in a report on Wednesday. They set a “hold” rating for the company. 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 data from MarketBeat.com, Stericycle currently has an average rating of “Hold” and a consensus price target of $74.00.

Stericycle Stock Down 1.0 %

The firm’s 50 day simple moving average is $59.47 and its 200-day simple moving average is $54.99. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.13 and a current ratio of 1.13.

Stericycle (NASDAQ:SRCL) last posted 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. Stericycle had a net margin of 1.37% and a return on equity of 7.94%. The business had revenue of $661.60 million for the quarter, compared to analyst estimates of $672.07 million. On average, research analysts predict that Stericycle, Inc. will post 2.29 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Stericycle

Several institutional investors and hedge funds have recently modified their holdings of SRCL. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in Stericycle during the 2nd quarter worth approximately $7,353,000. Clifford Capital Partners LLC lifted its position in shares of Stericycle by 17.5% during the second quarter. Clifford Capital Partners LLC now owns 320,589 shares of the business services provider’s stock worth $18,636,000 after purchasing an additional 47,729 shares in the last quarter. Sanctuary Advisors LLC purchased a new position in shares of Stericycle in the second quarter valued at $913,000. Quarry LP grew its holdings in Stericycle by 121.3% during the 2nd quarter. Quarry LP now owns 1,476 shares of the business services provider’s stock valued at $86,000 after purchasing an additional 809 shares in the last quarter. Finally, Water Island Capital LLC purchased a new stake in Stericycle during the 2nd quarter worth $17,550,000. Hedge funds and other institutional investors own 98.82% of the company’s stock.

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.