Sharps Compliance Corp (NASDAQ:SMED) was upgraded by Zacks Investment Research from a “sell” rating to a “buy” rating in a report released on Wednesday. The brokerage presently has a $4.50 target price on the industrial products company’s stock. Zacks Investment Research‘s price objective would suggest a potential upside of 3.21% from the company’s current price.

According to Zacks, “Headquartered in Houston, Texas, SHARPS COMPLIANCE is a leading provider of cost-effective disposal solutions for small quantity generators of medical waste. The Company’s flagship product, the Sharps Disposal by Mail System, is a cost-effective and easy-to-use solution to dispose of medical waste such as hypodermic needles, lancets and any other medical device or objects used to puncture or lacerate the skin. The Company also offers a number of products specifically designed for the home healthcare market. Sharps Compliance focuses on targeted growth markets such as the pharmaceutical, retail, healthcare, commercial, professional and hospitality markets, as well as serving a variety of additional markets. Sharps is a leading proponent and participant in the development of public awareness and solutions for the safe disposal of needles, syringes and other sharps in the community setting. “

Several other research analysts have also commented on the company. Stifel Nicolaus reiterated a “buy” rating and issued a $7.00 target price on shares of Sharps Compliance Corp in a research report on Friday, August 11th. ValuEngine upgraded Sharps Compliance Corp from a “sell” rating to a “hold” rating in a research report on Friday, August 11th. Finally, First Analysis upgraded Sharps Compliance Corp from an “equal weight” rating to an “overweight” rating and set a $8.00 target price for the company in a research report on Monday, August 14th.

Shares of Sharps Compliance Corp (NASDAQ SMED) opened at 4.36 on Wednesday. Sharps Compliance Corp has a 52 week low of $3.32 and a 52 week high of $5.73. The firm has a 50-day moving average price of $4.70 and a 200-day moving average price of $4.53. The stock’s market cap is $69.79 million.

Sharps Compliance Corp (NASDAQ:SMED) last issued its earnings results on Thursday, August 10th. The industrial products company reported $0.04 EPS for the quarter, missing the consensus estimate of $0.05 by ($0.01). The firm had revenue of $10.36 million during the quarter, compared to analyst estimates of $10.51 million. Sharps Compliance Corp had a negative return on equity of 2.36% and a negative net margin of 3.39%. Sharps Compliance Corp’s revenue was up 16.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.01 EPS. On average, analysts forecast that Sharps Compliance Corp will post $0.08 earnings per share for the current fiscal year.

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Several hedge funds and other institutional investors have recently made changes to their positions in SMED. North Star Investment Management Corp. lifted its holdings in shares of Sharps Compliance Corp by 98.5% in the 2nd quarter. North Star Investment Management Corp. now owns 193,350 shares of the industrial products company’s stock worth $818,000 after purchasing an additional 95,922 shares during the last quarter. Goodman Financial Corp lifted its holdings in shares of Sharps Compliance Corp by 1.4% in the 2nd quarter. Goodman Financial Corp now owns 940,701 shares of the industrial products company’s stock worth $3,979,000 after purchasing an additional 12,746 shares during the last quarter. Cadence Capital Management LLC lifted its holdings in shares of Sharps Compliance Corp by 5.3% in the 2nd quarter. Cadence Capital Management LLC now owns 177,450 shares of the industrial products company’s stock worth $751,000 after purchasing an additional 8,860 shares during the last quarter. Finally, Lapides Asset Management LLC lifted its holdings in shares of Sharps Compliance Corp by 2.3% in the 2nd quarter. Lapides Asset Management LLC now owns 172,600 shares of the industrial products company’s stock worth $730,000 after purchasing an additional 3,800 shares during the last quarter. 24.97% of the stock is currently owned by institutional investors and hedge funds.

Sharps Compliance Corp Company Profile

Sharps Compliance Corp. is a provider of waste management services, including medical, pharmaceutical and hazardous. The Company’s solutions include Sharps Recovery System, TakeAway Medication Recovery System, MedSafe, Route-Based Pickup Service, TakeAway Recycle System, ComplianceTRAC, Universal Waste Shipback Systems and Other Solutions.

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