NewEdge Wealth LLC Makes New Investment in Stericycle, Inc. (NASDAQ:SRCL)

NewEdge Wealth LLC bought a new position in Stericycle, Inc. (NASDAQ:SRCL) during the 4th quarter, HoldingsChannel.com reports. The fund bought 6,500 shares of the business services provider’s stock, valued at approximately $322,000.

Other hedge funds also recently bought and sold shares of the company. Barclays PLC increased its position in Stericycle by 30.6% in the 3rd quarter. Barclays PLC now owns 70,408 shares of the business services provider’s stock worth $3,147,000 after purchasing an additional 16,505 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Stericycle by 17.3% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 18,078 shares of the business services provider’s stock valued at $808,000 after acquiring an additional 2,671 shares during the last quarter. Earnest Partners LLC increased its holdings in shares of Stericycle by 6.6% during the 3rd quarter. Earnest Partners LLC now owns 1,941,254 shares of the business services provider’s stock valued at $86,793,000 after acquiring an additional 120,852 shares during the last quarter. Pathstone Family Office LLC acquired a new position in shares of Stericycle during the 3rd quarter valued at about $230,000. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its holdings in shares of Stericycle by 25.7% during the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 67,860 shares of the business services provider’s stock valued at $3,034,000 after acquiring an additional 13,860 shares during the last quarter. 98.82% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently commented on SRCL. Truist Financial increased their price objective on Stericycle from $50.00 to $57.00 and gave the company a “hold” rating in a report on Thursday, February 29th. Royal Bank of Canada reissued an “outperform” rating and set a $69.00 price objective on shares of Stericycle in a report on Thursday, March 7th. Wells Fargo & Company increased their price objective on Stericycle from $40.00 to $48.00 and gave the company an “underweight” rating in a report on Friday, March 1st. Stifel Nicolaus raised their target price on Stericycle from $70.00 to $75.00 and gave the company a “buy” rating in a report on Thursday, February 29th. Finally, StockNews.com lowered Stericycle from a “buy” rating to a “hold” rating in a report on Tuesday, April 2nd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $62.25.

Stericycle Trading Down 0.4 %

Shares of SRCL stock opened at $48.70 on Thursday. The stock has a 50 day moving average of $51.38 and a two-hundred day moving average of $47.90. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.51. Stericycle, Inc. has a 12 month low of $37.78 and a 12 month high of $57.06.

Stericycle (NASDAQ:SRCL) last posted its earnings results on Wednesday, February 28th. The business services provider reported $0.54 EPS for the quarter, topping the consensus estimate of $0.47 by $0.07. The business had revenue of $652.00 million during the quarter, compared to the consensus estimate of $657.99 million. Stericycle had a positive return on equity of 7.06% and a negative net margin of 0.80%. Stericycle’s revenue was down 2.7% on a year-over-year basis. During the same quarter last year, the company earned $0.60 EPS. On average, research analysts expect 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.