Sotera Health (NASDAQ:SHC) Shares Gap Up Following Better-Than-Expected Earnings

Sotera Health (NASDAQ:SHC)’s share price gapped up prior to trading on Thursday following a better than expected earnings announcement. The stock had previously closed at $11.50, but opened at $12.36. Sotera Health shares last traded at $12.34, with a volume of 118,194 shares changing hands.

The company reported $0.14 EPS for the quarter, topping analysts’ consensus estimates of $0.12 by $0.02. The business had revenue of $254.52 million for the quarter, compared to analyst estimates of $245.56 million. Sotera Health had a return on equity of 42.27% and a net margin of 6.31%. Sotera Health’s revenue for the quarter was up 2.6% on a year-over-year basis. During the same period in the prior year, the company earned $0.13 EPS.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Piper Sandler lowered their price target on shares of Sotera Health from $15.00 to $13.00 and set a “neutral” rating for the company in a report on Wednesday, April 23rd. Barclays dropped their target price on Sotera Health from $16.00 to $12.00 and set an “overweight” rating for the company in a research report on Thursday, April 10th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $15.20.

Institutional Trading of Sotera Health

Institutional investors and hedge funds have recently made changes to their positions in the business. Blue Trust Inc. grew its stake in shares of Sotera Health by 164.3% during the fourth quarter. Blue Trust Inc. now owns 1,834 shares of the company’s stock worth $25,000 after purchasing an additional 1,140 shares during the period. Quarry LP acquired a new position in shares of Sotera Health during the 4th quarter worth about $28,000. GAMMA Investing LLC increased its stake in shares of Sotera Health by 37.5% in the 4th quarter. GAMMA Investing LLC now owns 4,109 shares of the company’s stock valued at $56,000 after acquiring an additional 1,121 shares during the last quarter. Farther Finance Advisors LLC boosted its stake in Sotera Health by 4,881.9% during the 1st quarter. Farther Finance Advisors LLC now owns 6,327 shares of the company’s stock worth $70,000 after acquiring an additional 6,200 shares during the last quarter. Finally, Tower Research Capital LLC TRC increased its stake in Sotera Health by 37.8% in the fourth quarter. Tower Research Capital LLC TRC now owns 5,975 shares of the company’s stock valued at $82,000 after purchasing an additional 1,640 shares in the last quarter. Institutional investors own 91.03% of the company’s stock.

Sotera Health Trading Up 2.3 %

The company’s fifty day simple moving average is $11.38 and its two-hundred day simple moving average is $13.04. The company has a market capitalization of $3.51 billion, a price-to-earnings ratio of 49.52 and a beta of 1.88. The company has a quick ratio of 2.61, a current ratio of 2.88 and a debt-to-equity ratio of 4.91.

Sotera Health Company Profile

Sotera Health Company engages in the provision of sterilization, lab testing, and advisory services in the United States and internationally. The company operates through three segments: Sterigenics, Nordion, and Nelson Labs. It provides mission-critical end-to-end sterilization services, including gamma and electron beam irradiation, and ethylene oxide processing, as well as designs, installs, and maintains gamma irradiation systems.