NewEdge Wealth LLC Takes $322,000 Position in Stericycle, Inc. (NASDAQ:SRCL)

NewEdge Wealth LLC acquired a new stake in Stericycle, Inc. (NASDAQ:SRCL) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 6,500 shares of the business services provider’s stock, valued at approximately $322,000.

Several other large investors have also modified their holdings of the company. Teacher Retirement System of Texas boosted its holdings in shares of Stericycle by 1.8% in the fourth quarter. Teacher Retirement System of Texas now owns 13,400 shares of the business services provider’s stock valued at $669,000 after acquiring an additional 232 shares during the period. Thrivent Financial for Lutherans lifted its holdings in shares of Stericycle by 1.0% during the third quarter. Thrivent Financial for Lutherans now owns 24,397 shares of the business services provider’s stock worth $1,027,000 after purchasing an additional 238 shares during the period. State of Wyoming lifted its holdings in shares of Stericycle by 7.5% during the second quarter. State of Wyoming now owns 3,808 shares of the business services provider’s stock worth $177,000 after purchasing an additional 267 shares during the period. Citigroup Inc. lifted its holdings in shares of Stericycle by 0.6% during the third quarter. Citigroup Inc. now owns 46,953 shares of the business services provider’s stock worth $2,099,000 after purchasing an additional 285 shares during the period. Finally, Captrust Financial Advisors lifted its holdings in shares of Stericycle by 6.7% during the third quarter. Captrust Financial Advisors now owns 4,889 shares of the business services provider’s stock worth $206,000 after purchasing an additional 309 shares during the period. 98.82% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Stifel Nicolaus increased their price target on Stericycle from $70.00 to $75.00 and gave the stock a “buy” rating in a report on Thursday, February 29th. Truist Financial increased their price target on Stericycle from $50.00 to $57.00 and gave the stock a “hold” rating in a report on Thursday, February 29th. StockNews.com downgraded Stericycle from a “buy” rating to a “hold” rating in a report on Tuesday, April 2nd. Wells Fargo & Company increased their price objective on Stericycle from $40.00 to $48.00 and gave the stock an “underweight” rating in a research report on Friday, March 1st. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $69.00 price objective on shares of Stericycle in a research report on Thursday, March 7th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $62.25.

Stericycle Stock Performance

Shares of SRCL stock opened at $48.70 on Thursday. Stericycle, Inc. has a fifty-two week low of $37.78 and a fifty-two week high of $57.06. The business has a fifty day simple moving average of $51.38 and a 200-day simple moving average of $47.90. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.94 and a current ratio of 0.94.

Stericycle (NASDAQ:SRCL) last announced its quarterly earnings results on Wednesday, February 28th. The business services provider reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.47 by $0.07. Stericycle had a positive return on equity of 7.06% and a negative net margin of 0.80%. The business had revenue of $652.00 million during the quarter, compared to analysts’ expectations of $657.99 million. During the same quarter last year, the business posted $0.60 earnings per share. The business’s revenue for the quarter was down 2.7% on a year-over-year basis. On average, analysts predict that Stericycle, Inc. will post 2.31 earnings per share for the current 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.