Gabelli Funds LLC Raises Holdings in Stericycle, Inc. (NASDAQ:SRCL)

Gabelli Funds LLC increased its position in Stericycle, Inc. (NASDAQ:SRCL) by 338.4% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 245,511 shares of the business services provider’s stock after acquiring an additional 189,511 shares during the quarter. Gabelli Funds LLC owned about 0.26% of Stericycle worth $14,272,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Retirement Systems of Alabama increased its stake in shares of Stericycle by 0.3% in the first quarter. Retirement Systems of Alabama now owns 116,185 shares of the business services provider’s stock worth $6,129,000 after purchasing an additional 305 shares in the last quarter. Treasurer of the State of North Carolina grew its stake in Stericycle by 1.0% in the 4th quarter. Treasurer of the State of North Carolina now owns 40,838 shares of the business services provider’s stock valued at $2,024,000 after buying an additional 400 shares in the last quarter. Mirova raised 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 acquiring an additional 428 shares during the period. Wealth Enhancement Advisory Services LLC raised its holdings 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 acquiring an additional 449 shares during the period. Finally, Clearstead Trust LLC purchased a new stake in shares of Stericycle during the first quarter worth $25,000. 98.82% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Royal Bank of Canada reiterated a “sector perform” rating and set a $62.00 price objective (down from $69.00) on shares of Stericycle in a research note on Tuesday, June 4th. StockNews.com assumed coverage on shares of Stericycle in a report on Tuesday, September 17th. They issued a “hold” rating on the stock. Truist Financial boosted their price objective 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. Finally, Keefe, Bruyette & Woods increased their target price on shares of Stericycle from $135.00 to $142.00 and gave the stock an “outperform” rating in a research note on Tuesday, June 4th. One analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $74.00.

Stericycle Stock Performance

Shares of SRCL opened at $61.68 on Tuesday. Stericycle, Inc. has a 12-month low of $37.78 and a 12-month high of $61.77. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.55. The company has a market cap of $5.73 billion, a PE ratio of -280.36, a price-to-earnings-growth ratio of 3.37 and a beta of 1.11. The stock has a 50-day moving average price of $59.40 and a 200-day moving average price of $54.92.

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

Stericycle Profile

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.