Sotera Health (NASDAQ:SHC) Upgraded to Buy by Citigroup

Citigroup upgraded shares of Sotera Health (NASDAQ:SHCFree Report) from a neutral rating to a buy rating in a research note published on Wednesday, Marketbeat reports. Citigroup currently has $16.00 price target on the stock, down from their prior price target of $18.00.

SHC has been the topic of several other reports. TheStreet raised shares of Sotera Health from a d rating to a c- rating in a report on Tuesday, February 27th. Royal Bank of Canada reaffirmed an outperform rating and issued a $20.00 price target on shares of Sotera Health in a report on Monday, March 4th. KeyCorp began coverage on shares of Sotera Health in a report on Tuesday, February 6th. They set a sector weight rating on the stock. Barclays boosted their price objective on shares of Sotera Health from $17.00 to $19.00 and gave the company an overweight rating in a report on Wednesday, February 28th. Finally, Jefferies Financial Group raised shares of Sotera Health from a hold rating to a buy rating and boosted their price objective for the company from $15.00 to $15.50 in a report on Monday, March 25th. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, Sotera Health currently has an average rating of Moderate Buy and a consensus price target of $18.70.

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Sotera Health Stock Performance

Shares of SHC stock opened at $11.54 on Wednesday. The firm has a market cap of $3.26 billion, a price-to-earnings ratio of 64.11 and a beta of 2.11. The company’s 50 day moving average is $14.53 and its 200 day moving average is $14.55. The company has a quick ratio of 2.21, a current ratio of 2.42 and a debt-to-equity ratio of 5.16. Sotera Health has a 52-week low of $10.74 and a 52-week high of $19.40.

Sotera Health (NASDAQ:SHCGet Free Report) last released its quarterly earnings results on Tuesday, February 27th. The company reported $0.26 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.26. Sotera Health had a net margin of 4.90% and a return on equity of 51.32%. The business had revenue of $310.24 million for the quarter, compared to analyst estimates of $302.17 million. During the same period in the previous year, the company earned $0.23 earnings per share. The business’s revenue for the quarter was up 23.3% on a year-over-year basis. On average, sell-side analysts anticipate that Sotera Health will post 0.64 EPS for the current fiscal year.

Insider Activity at Sotera Health

In related news, Director Pincus & Co. Warburg sold 16,594,363 shares of the business’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $14.31, for a total transaction of $237,465,334.53. Following the completion of the transaction, the director now directly owns 88,822,952 shares in the company, valued at $1,271,056,443.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Sotera Health news, Director Pincus & Co. Warburg sold 16,594,363 shares of the company’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $14.31, for a total value of $237,465,334.53. Following the completion of the transaction, the director now owns 88,822,952 shares in the company, valued at $1,271,056,443.12. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Michael P. Rutz sold 83,109 shares of the company’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $14.31, for a total transaction of $1,189,289.79. Following the completion of the transaction, the insider now owns 544,409 shares of the company’s stock, valued at approximately $7,790,492.79. The disclosure for this sale can be found here. 65.13% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Citigroup Inc. increased its stake in shares of Sotera Health by 325.9% during the first quarter. Citigroup Inc. now owns 80,432 shares of the company’s stock worth $1,742,000 after purchasing an additional 61,547 shares in the last quarter. PNC Financial Services Group Inc. purchased a new stake in shares of Sotera Health during the first quarter worth about $317,000. Bank of Montreal Can increased its stake in shares of Sotera Health by 153.7% during the first quarter. Bank of Montreal Can now owns 291,140 shares of the company’s stock worth $6,437,000 after purchasing an additional 176,400 shares in the last quarter. MetLife Investment Management LLC purchased a new stake in shares of Sotera Health during the first quarter worth about $139,000. Finally, BlackRock Inc. increased its stake in shares of Sotera Health by 7.6% during the first quarter. BlackRock Inc. now owns 6,252,520 shares of the company’s stock worth $135,429,000 after purchasing an additional 439,762 shares in the last quarter. Institutional investors and hedge funds own 91.03% of the company’s stock.

Sotera Health Company Profile

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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.

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Analyst Recommendations for Sotera Health (NASDAQ:SHC)

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