Pinebridge Investments L.P. Increases Stock Position in Stericycle, Inc. (NASDAQ:SRCL)

Pinebridge Investments L.P. raised its position in Stericycle, Inc. (NASDAQ:SRCLFree Report) by 51.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 20,904 shares of the business services provider’s stock after acquiring an additional 7,097 shares during the quarter. Pinebridge Investments L.P.’s holdings in Stericycle were worth $1,036,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Principal Securities Inc. purchased a new position in Stericycle during the 4th quarter valued at about $41,000. TFO Wealth Partners LLC increased its stake in shares of Stericycle by 22,325.0% during the fourth quarter. TFO Wealth Partners LLC now owns 897 shares of the business services provider’s stock valued at $44,000 after buying an additional 893 shares during the period. Ramirez Asset Management Inc. bought a new position in shares of Stericycle during the third quarter valued at approximately $45,000. Sachetta LLC purchased a new stake in Stericycle in the fourth quarter worth $100,000. Finally, Essex Investment Management Co. LLC boosted its holdings 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 acquiring an additional 387 shares in the last quarter. 98.82% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have commented on SRCL shares. Keefe, Bruyette & Woods upped their price objective on shares of Stericycle from $135.00 to $142.00 and gave the stock an “outperform” rating in a report on Tuesday, June 4th. Royal Bank of Canada reissued a “sector perform” rating and issued a $62.00 price target (down from $69.00) on shares of Stericycle in a research note on Tuesday, June 4th. Wells Fargo & Company lifted their price objective on Stericycle from $40.00 to $48.00 and gave the company an “underweight” rating in a research report on Friday, March 1st. Robert W. Baird decreased their target price on Stericycle from $62.00 to $55.00 and set a “neutral” rating for the company in a research report on Friday, April 26th. Finally, Stifel Nicolaus lifted their price target on Stericycle from $70.00 to $75.00 and gave the company a “buy” rating in a research report on Thursday, February 29th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $74.00.

Read Our Latest Stock Analysis on SRCL

Stericycle Stock Performance

Shares of SRCL opened at $58.97 on Friday. 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 cap of $5.47 billion, a P/E ratio of -268.05, a P/E/G ratio of 3.18 and a beta of 1.08. The business’s 50 day moving average price is $49.47 and its 200-day moving average price is $49.62. Stericycle, Inc. has a 52 week low of $37.78 and a 52 week high of $59.45.

Stericycle (NASDAQ:SRCLGet Free Report) last released its earnings results on Thursday, April 25th. The business services provider reported $0.57 EPS for the quarter, topping the consensus estimate 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 the consensus estimate of $676.42 million. During the same period 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. Equities research analysts anticipate that Stericycle, Inc. will post 2.32 earnings per share for the current fiscal year.

About Stericycle

(Free Report)

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.

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Institutional Ownership by Quarter for Stericycle (NASDAQ:SRCL)

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