State Street Corp Increases Holdings in Sotera Health (NASDAQ:SHC)

State Street Corp grew its holdings in shares of Sotera Health (NASDAQ:SHC) by 18.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,126,806 shares of the company’s stock after buying an additional 644,236 shares during the quarter. State Street Corp owned 1.46% of Sotera Health worth $68,918,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the company. Quantinno Capital Management LP grew its holdings in Sotera Health by 59.4% during the 3rd quarter. Quantinno Capital Management LP now owns 29,217 shares of the company’s stock valued at $488,000 after purchasing an additional 10,885 shares during the last quarter. Maven Securities LTD bought a new position in Sotera Health during the 3rd quarter valued at about $1,670,000. True Wealth Design LLC bought a new position in Sotera Health during the 3rd quarter valued at about $32,000. Maverick Capital Ltd. grew its holdings in Sotera Health by 3.5% during the 3rd quarter. Maverick Capital Ltd. now owns 3,497,367 shares of the company’s stock valued at $58,406,000 after purchasing an additional 118,353 shares during the last quarter. Finally, Edgestream Partners L.P. grew its holdings in Sotera Health by 99.7% during the 3rd quarter. Edgestream Partners L.P. now owns 21,040 shares of the company’s stock valued at $351,000 after purchasing an additional 10,502 shares during the last quarter. 91.03% of the stock is currently owned by institutional investors.

Sotera Health Price Performance

NASDAQ SHC opened at $13.08 on Wednesday. The company has a debt-to-equity ratio of 4.91, a quick ratio of 2.61 and a current ratio of 2.88. The firm’s 50 day moving average price is $14.51 and its 200-day moving average price is $14.21. Sotera Health has a 52-week low of $10.71 and a 52-week high of $17.44. The company has a market cap of $3.70 billion, a PE ratio of 52.32 and a beta of 1.96.

Sotera Health (NASDAQ:SHC) last released its quarterly earnings data on Tuesday, November 5th. The company reported $0.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.01). Sotera Health had a net margin of 6.31% and a return on equity of 42.27%. The business had revenue of $285.47 million for the quarter, compared to the consensus estimate of $278.64 million. During the same quarter in the prior year, the business posted $0.18 earnings per share. Sotera Health’s revenue for the quarter was up 8.5% on a year-over-year basis. Sell-side analysts forecast that Sotera Health will post 0.61 EPS for the current fiscal year.

Wall Street Analyst Weigh In

SHC has been the topic of a number of research analyst reports. The Goldman Sachs Group initiated coverage on shares of Sotera Health in a research note on Friday, December 6th. They issued a “neutral” rating and a $14.00 target price on the stock. Royal Bank of Canada restated an “outperform” rating and issued a $17.00 target price on shares of Sotera Health in a research note on Thursday, November 21st. Finally, Citigroup upped their target price on shares of Sotera Health from $18.00 to $20.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $16.08.

About Sotera Health

Sotera Health Company engages in the provision of sterilization, lab testing, and advisory services in the United States and internationally. The company operates through three segments: Sterigenics, Nordion, and Nelson Labs. It provides mission-critical end-to-end sterilization services, including gamma and electron beam irradiation, and ethylene oxide processing, as well as designs, installs, and maintains gamma irradiation systems.