Quantbot Technologies LP Takes Position in Stericycle, Inc. (NASDAQ:SRCL)

Quantbot Technologies LP purchased a new position in Stericycle, Inc. (NASDAQ:SRCL) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 19,384 shares of the business services provider’s stock, valued at approximately $1,023,000.

Several other institutional investors have also bought and sold shares of the company. Capital Research Global Investors lifted its holdings 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 valued at $296,762,000 after purchasing an additional 705,586 shares during the last quarter. Robeco Institutional Asset Management B.V. bought a new position in Stericycle in the 4th quarter worth approximately $156,000. Private Advisor Group LLC grew its stake in Stericycle by 8.6% in the 4th quarter. Private Advisor Group LLC now owns 5,788 shares of the business services provider’s stock valued at $287,000 after buying an additional 459 shares in the last quarter. Sei Investments Co. raised its holdings in Stericycle by 35.5% during the 4th quarter. Sei Investments Co. now owns 1,061,369 shares of the business services provider’s stock valued at $52,601,000 after acquiring an additional 277,896 shares during the period. Finally, Eagle Asset Management Inc. raised its holdings in Stericycle by 5.5% during the 4th quarter. Eagle Asset Management Inc. now owns 303,649 shares of the business services provider’s stock valued at $15,049,000 after acquiring an additional 15,790 shares during the period. Hedge funds and other institutional investors own 98.82% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on SRCL. Royal Bank of Canada restated a “sector perform” rating and issued a $62.00 target price (down previously from $69.00) on shares of Stericycle in a research note on Tuesday, June 4th. Truist Financial raised their price objective on shares of Stericycle from $50.00 to $62.00 and gave the company a “hold” rating in a research report on Tuesday, June 4th. StockNews.com began coverage on shares of Stericycle in a report on Sunday, July 7th. They set a “hold” rating on the stock. Robert W. Baird cut their price target on shares of Stericycle from $62.00 to $55.00 and set a “neutral” rating for the company in a report on Friday, April 26th. Finally, Keefe, Bruyette & Woods upped their price target on shares of Stericycle from $135.00 to $142.00 and gave the stock an “outperform” rating in a report on Tuesday, June 4th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $74.00.

Stericycle Price Performance

Shares of NASDAQ SRCL opened at $58.27 on Friday. Stericycle, Inc. has a 1 year low of $37.78 and a 1 year high of $59.45. The stock has a market capitalization of $5.41 billion, a P/E ratio of -264.86, a P/E/G ratio of 3.14 and a beta of 1.11. The company’s 50-day moving average is $54.05 and its 200 day moving average is $51.38. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.11 and a quick ratio of 1.11.

Stericycle (NASDAQ:SRCL) last released its quarterly earnings results on Thursday, April 25th. The business services provider reported $0.57 earnings per share for the quarter, beating the consensus estimate of $0.54 by $0.03. Stericycle had a positive return on equity of 7.31% and a negative net margin of 0.74%. The company had revenue of $664.90 million for the quarter, compared to analyst estimates of $676.42 million. During the same period in the previous year, the company posted $0.49 earnings per share. The firm’s revenue was down 2.8% on a year-over-year basis. On average, sell-side analysts expect that Stericycle, Inc. will post 2.32 earnings per share for the current year.

Stericycle Profile

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.