StockNews.com Initiates Coverage on Stericycle (NASDAQ:SRCL)

Equities research analysts at StockNews.com assumed coverage on shares of Stericycle (NASDAQ:SRCL) in a report issued on Saturday. The firm set a “hold” rating on the business services provider’s stock.

Stericycle Price Performance

SRCL stock opened at $60.90 on Friday. The firm has a market cap of $5.65 billion, a price-to-earnings ratio of 160.26, a PEG ratio of 3.32 and a beta of 1.11. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.55. Stericycle has a 12-month low of $37.78 and a 12-month high of $61.77. The company’s fifty day simple moving average is $60.35 and its 200 day simple moving average is $55.99.

Stericycle (NASDAQ:SRCL) last announced its quarterly earnings data on Thursday, July 25th. The business services provider reported $0.61 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.04. Stericycle had a net margin of 1.37% and a return on equity of 7.94%. The firm had revenue of $661.60 million for the quarter, compared to analyst estimates of $672.07 million. On average, analysts expect that Stericycle will post 2.29 earnings per share for the current year.

Institutional Investors Weigh In On Stericycle

Institutional investors and hedge funds have recently made changes to their positions in the business. Pentwater Capital Management LP bought a new stake in Stericycle in the 2nd quarter worth about $83,010,000. Magnetar Financial LLC bought a new stake in Stericycle in the 2nd quarter worth about $81,596,000. Millennium Management LLC grew its position in Stericycle by 1,057.6% in the 2nd quarter. Millennium Management LLC now owns 1,315,274 shares of the business services provider’s stock worth $76,457,000 after purchasing an additional 1,201,653 shares in the last quarter. Alpine Associates Management Inc. bought a new stake in Stericycle in the 2nd quarter worth about $62,298,000. Finally, Capital Research Global Investors grew its position in Stericycle by 11.4% in the 1st quarter. Capital Research Global Investors now owns 6,667,911 shares of the business services provider’s stock worth $351,732,000 after purchasing an additional 679,974 shares in the last quarter. Institutional investors and hedge funds own 98.82% of the company’s stock.

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.