Short Interest in Stericycle, Inc. (NASDAQ:SRCL) Decreases By 19.6%

Stericycle, Inc. (NASDAQ:SRCL) was the recipient of a large decline in short interest in the month of September. As of September 15th, there was short interest totalling 3,400,000 shares, a decline of 19.6% from the August 31st total of 4,230,000 shares. Based on an average daily volume of 1,360,000 shares, the short-interest ratio is presently 2.5 days.

Wall Street Analyst Weigh In

SRCL has been the subject of several analyst reports. Truist Financial boosted their target price on shares of Stericycle from $50.00 to $62.00 and gave the company a “hold” rating in a research note on Tuesday, June 4th. StockNews.com started coverage on shares of Stericycle in a research report on Wednesday. They set a “hold” rating for the company. Keefe, Bruyette & Woods upped their price objective on shares of Stericycle from $135.00 to $142.00 and gave the stock an “outperform” rating in a research report on Tuesday, June 4th. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $62.00 price objective (down from $69.00) on shares of Stericycle in a research report on Tuesday, June 4th. One research analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $74.00.

Hedge Funds Weigh In On Stericycle

Several hedge funds have recently added to or reduced their stakes in SRCL. Vanguard Group Inc. raised its stake in shares of Stericycle by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 8,969,118 shares of the business services provider’s stock worth $444,509,000 after buying an additional 52,576 shares during the last quarter. Capital Research Global Investors grew its position in Stericycle by 11.4% in the first quarter. Capital Research Global Investors now owns 6,667,911 shares of the business services provider’s stock valued at $351,732,000 after acquiring an additional 679,974 shares in the last quarter. Earnest Partners LLC boosted its stake in shares of Stericycle by 12.4% during the 1st quarter. Earnest Partners LLC now owns 2,460,020 shares of the business services provider’s stock valued at $129,766,000 after buying an additional 271,025 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Stericycle by 7.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,171,659 shares of the business services provider’s stock valued at $126,238,000 after buying an additional 142,814 shares during the last quarter. Finally, Schroder Investment Management Group boosted its stake in shares of Stericycle by 8.1% during the 4th quarter. Schroder Investment Management Group now owns 1,739,644 shares of the business services provider’s stock valued at $86,217,000 after buying an additional 129,822 shares during the last quarter. 98.82% of the stock is currently owned by hedge funds and other institutional investors.

Stericycle Trading Up 0.1 %

Shares of SRCL traded up $0.05 during mid-day trading on Friday, reaching $60.95. The stock had a trading volume of 993,196 shares, compared to its average volume of 1,152,921. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.13 and a quick ratio of 1.13. Stericycle has a 52-week low of $37.78 and a 52-week high of $61.77. The business’s fifty day moving average is $59.63 and its 200 day moving average is $55.13. The firm has a market cap of $5.66 billion, a price-to-earnings ratio of -277.05, a P/E/G ratio of 3.37 and a beta of 1.11.

Stericycle (NASDAQ:SRCL) last posted its earnings results on Thursday, July 25th. The business services provider reported $0.61 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.04. The company had revenue of $661.60 million for the quarter, compared to analysts’ expectations of $672.07 million. Stericycle had a net margin of 1.37% and a return on equity of 7.94%. On average, sell-side analysts predict that Stericycle will post 2.29 EPS for the current fiscal year.

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.