Federated Hermes Inc. Decreases Stock Holdings in Stericycle, Inc. (NASDAQ:SRCL)

Federated Hermes Inc. lessened its holdings in Stericycle, Inc. (NASDAQ:SRCL) by 26.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 11,437 shares of the business services provider’s stock after selling 4,107 shares during the quarter. Federated Hermes Inc.’s holdings in Stericycle were worth $567,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the business. Ramirez Asset Management Inc. acquired a new position in shares of Stericycle during the 3rd quarter worth about $45,000. Exchange Traded Concepts LLC boosted its holdings in Stericycle by 87.5% in the third quarter. Exchange Traded Concepts LLC now owns 1,001 shares of the business services provider’s stock valued at $45,000 after purchasing an additional 467 shares in the last quarter. Essex Investment Management Co. LLC increased its stake in Stericycle by 16.8% in the third quarter. Essex Investment Management Co. LLC now owns 2,691 shares of the business services provider’s stock valued at $120,000 after purchasing an additional 387 shares during the last quarter. Blue Trust Inc. raised its holdings in Stericycle by 15.4% during the fourth quarter. Blue Trust Inc. now owns 3,125 shares of the business services provider’s stock worth $155,000 after purchasing an additional 416 shares in the last quarter. Finally, Simplicity Solutions LLC purchased a new stake in shares of Stericycle during the 3rd quarter worth approximately $221,000. Hedge funds and other institutional investors own 98.82% of the company’s stock.

Analyst Upgrades and Downgrades

SRCL has been the topic of several research analyst reports. Robert W. Baird cut their price target on shares of Stericycle from $62.00 to $55.00 and set a “neutral” rating on the stock in a research note on Friday, April 26th. StockNews.com downgraded Stericycle from a “buy” rating to a “hold” rating in a report on Tuesday, April 2nd. Wells Fargo & Company raised their price target on Stericycle from $40.00 to $48.00 and gave the stock an “underweight” rating in a research note on Friday, March 1st. Royal Bank of Canada reaffirmed an “outperform” rating and set a $69.00 price target on shares of Stericycle in a research report on Thursday, March 7th. Finally, Truist Financial decreased their price objective on Stericycle from $57.00 to $50.00 and set a “hold” rating for the company in a report on Monday, April 29th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $59.40.

Stericycle Stock Performance

Shares of SRCL stock opened at $46.18 on Friday. The stock’s 50-day moving average price is $50.99 and its 200 day moving average price is $48.23. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.55. The stock has a market capitalization of $4.29 billion, a PE ratio of -209.91, a price-to-earnings-growth ratio of 2.40 and a beta of 1.12. Stericycle, Inc. has a 52-week low of $37.78 and a 52-week high of $57.06.

Stericycle (NASDAQ:SRCL) last released its earnings results on Thursday, April 25th. The business services provider reported $0.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 business had revenue of $664.90 million for the quarter, compared to analyst estimates of $676.42 million. During the same quarter in the previous year, the company posted $0.49 earnings per share. The company’s revenue for the quarter was down 2.8% compared to the same quarter last year. As a group, equities research analysts forecast that Stericycle, Inc. will post 2.31 EPS for the current 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.