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

Federated Hermes Inc. lessened its stake in shares of Stericycle, Inc. (NASDAQ:SRCL) by 27.4% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 7,347 shares of the business services provider’s stock after selling 2,774 shares during the quarter. Federated Hermes Inc.’s holdings in Stericycle were worth $427,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Retirement Systems of Alabama grew its holdings in Stericycle by 0.3% in the 1st quarter. Retirement Systems of Alabama now owns 116,185 shares of the business services provider’s stock worth $6,129,000 after acquiring an additional 305 shares during the last quarter. Treasurer of the State of North Carolina grew its stake in shares of Stericycle by 1.0% in the fourth quarter. Treasurer of the State of North Carolina now owns 40,838 shares of the business services provider’s stock worth $2,024,000 after purchasing an additional 400 shares during the last quarter. Mirova increased its holdings in Stericycle by 0.9% during the 1st quarter. Mirova now owns 47,345 shares of the business services provider’s stock valued at $2,497,000 after purchasing an additional 428 shares during the period. Wealth Enhancement Advisory Services LLC raised its position in Stericycle by 6.4% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 7,447 shares of the business services provider’s stock valued at $433,000 after purchasing an additional 449 shares during the last quarter. Finally, Clearstead Trust LLC purchased a new stake in Stericycle in the 1st quarter worth approximately $25,000. Institutional investors own 98.82% of the company’s stock.

Analysts Set New Price Targets

SRCL has been the subject of a number of recent analyst reports. Royal Bank of Canada restated a “sector perform” rating and set a $62.00 target price (down previously from $69.00) on shares of Stericycle in a report on Tuesday, June 4th. Keefe, Bruyette & Woods raised their target price 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. Truist Financial boosted their price target 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. Finally, StockNews.com initiated coverage on shares of Stericycle in a report on Tuesday, September 17th. They issued a “hold” rating for the company. One analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $74.00.

Stericycle Price Performance

SRCL stock opened at $61.68 on Tuesday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.13 and a current ratio of 1.13. The firm has a 50 day moving average price of $59.40 and a 200-day moving average price of $54.92. Stericycle, Inc. has a 52-week low of $37.78 and a 52-week high of $61.77. The firm has a market capitalization of $5.73 billion, a price-to-earnings ratio of -280.36, a PEG ratio of 3.37 and a beta of 1.11.

Stericycle (NASDAQ:SRCL) last released its earnings results on Thursday, July 25th. The business services provider reported $0.61 EPS for the quarter, topping the consensus estimate of $0.57 by $0.04. Stericycle had a return on equity of 7.94% and a net margin of 1.37%. The business had revenue of $661.60 million for the quarter, compared to the consensus estimate of $672.07 million. Equities research analysts forecast that Stericycle, Inc. 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.