Stericycle Inc (NASDAQ:SRCL) was the target of a large drop in short interest in September. As of September 28th, there was short interest totalling 4,392,617 shares, a drop of 27.7% from the September 14th total of 6,078,026 shares. Approximately 5.2% of the shares of the stock are short sold. Based on an average daily volume of 864,898 shares, the short-interest ratio is currently 5.1 days.
SRCL has been the subject of a number of recent research reports. Zacks Investment Research raised shares of Stericycle from a “sell” rating to a “hold” rating in a research note on Tuesday, August 28th. BidaskClub cut shares of Stericycle from a “strong-buy” rating to a “buy” rating in a research note on Friday, September 14th. Jefferies Financial Group set a $75.00 price objective on shares of Stericycle and gave the stock a “buy” rating in a research note on Thursday, August 2nd. BMO Capital Markets dropped their price objective on shares of Stericycle from $71.00 to $63.00 and set a “market perform” rating for the company in a research note on Monday, August 6th. Finally, Barrington Research set a $72.00 price objective on shares of Stericycle and gave the stock a “buy” rating in a research note on Friday, October 5th. Four equities research analysts have rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $71.29.
In other news, CFO Daniel Ginnetti sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 1st. The shares were sold at an average price of $70.00, for a total transaction of $350,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last three months, insiders have sold 10,060 shares of company stock valued at $707,912. Corporate insiders own 3.50% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in SRCL. Whittier Trust Co. grew its stake in shares of Stericycle by 362.6% during the 2nd quarter. Whittier Trust Co. now owns 1,087 shares of the business services provider’s stock valued at $129,000 after buying an additional 852 shares during the period. Federated Investors Inc. PA grew its stake in shares of Stericycle by 129.5% during the 1st quarter. Federated Investors Inc. PA now owns 2,088 shares of the business services provider’s stock valued at $122,000 after buying an additional 1,178 shares during the period. Dupont Capital Management Corp grew its stake in shares of Stericycle by 102.2% during the 2nd quarter. Dupont Capital Management Corp now owns 2,089 shares of the business services provider’s stock valued at $136,000 after buying an additional 1,056 shares during the period. NumerixS Investment Technologies Inc grew its stake in shares of Stericycle by 285.0% during the 2nd quarter. NumerixS Investment Technologies Inc now owns 2,695 shares of the business services provider’s stock valued at $174,000 after buying an additional 1,995 shares during the period. Finally, Intact Investment Management Inc. purchased a new stake in shares of Stericycle during the 2nd quarter valued at $202,000. 95.47% of the stock is owned by hedge funds and other institutional investors.
SRCL stock opened at $52.99 on Friday. The company has a market capitalization of $5.04 billion, a price-to-earnings ratio of 12.32, a PEG ratio of 1.38 and a beta of 0.35. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.81 and a quick ratio of 0.81. Stericycle has a one year low of $52.95 and a one year high of $76.73.
Stericycle (NASDAQ:SRCL) last released its earnings results on Thursday, August 2nd. The business services provider reported $1.17 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.13 by $0.04. The firm had revenue of $883.30 million during the quarter, compared to analysts’ expectations of $896.62 million. Stericycle had a net margin of 5.03% and a return on equity of 14.04%. Stericycle’s revenue for the quarter was down 3.7% on a year-over-year basis. During the same period in the previous year, the company earned $1.15 EPS. As a group, sell-side analysts expect that Stericycle will post 4.43 EPS for the current year.
Stericycle Company Profile
Stericycle, Inc, together with its subsidiaries, provides regulated and compliance solutions to the healthcare, retail, and commercial businesses in the United States and internationally. It collects and processes regulated and specialized waste for disposal services; and collects personal and confidential information for secure destruction, as well as offers training, consulting, recall/return, communication, and compliance services.
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