Water Island Capital LLC Takes Position in Stericycle, Inc. (NASDAQ:SRCL)

Water Island Capital LLC bought a new stake in shares of Stericycle, Inc. (NASDAQ:SRCL) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 301,901 shares of the business services provider’s stock, valued at approximately $17,550,000. Stericycle comprises about 1.9% of Water Island Capital LLC’s investment portfolio, making the stock its 20th largest holding. Water Island Capital LLC owned about 0.33% of Stericycle as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Clearstead Trust LLC bought a new stake in shares of Stericycle in the first quarter worth about $25,000. International Assets Investment Management LLC bought a new position in Stericycle in the 2nd quarter worth $45,000. GAMMA Investing LLC lifted its position in shares of Stericycle by 170.9% in the 1st quarter. GAMMA Investing LLC now owns 818 shares of the business services provider’s stock worth $43,000 after purchasing an additional 516 shares during the period. Headlands Technologies LLC bought a new stake in shares of Stericycle during the 1st quarter valued at about $44,000. Finally, TFO Wealth Partners LLC increased its position 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. 98.82% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts have commented on SRCL shares. StockNews.com initiated coverage on shares of Stericycle in a report on Wednesday, September 25th. They issued a “hold” rating for the company. Keefe, Bruyette & Woods lifted their price target on Stericycle from $135.00 to $142.00 and gave the company an “outperform” rating in a research report on Tuesday, June 4th. Truist Financial increased their price objective on Stericycle from $50.00 to $62.00 and gave the stock a “hold” rating in a report on Tuesday, June 4th. Finally, 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. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $74.00.

Stericycle Stock Up 0.1 %

Shares of Stericycle stock opened at $60.95 on Monday. The company has a 50-day simple moving average of $59.63 and a two-hundred day simple moving average of $55.17. Stericycle, Inc. has a 52-week low of $37.78 and a 52-week high of $61.77. 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 stock has a market capitalization of $5.66 billion, a PE ratio of -277.05, a price-to-earnings-growth ratio of 3.37 and a beta of 1.11.

Stericycle (NASDAQ:SRCL) last released its quarterly earnings data 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 for the quarter, compared to analysts’ expectations of $672.07 million. Stericycle had a return on equity of 7.94% and a net margin of 1.37%. On average, analysts anticipate 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.