Sharps Compliance (NASDAQ:SMED) Trading Up 7.9% on Earnings Beat

Sharps Compliance Corp. (NASDAQ:SMED)’s stock price rose 7.9% during mid-day trading on Wednesday following a better than expected earnings announcement. The company traded as high as $4.47 and last traded at $4.09, approximately 150,371 shares changed hands during trading. An increase of 883% from the average daily volume of 15,298 shares. The stock had previously closed at $3.79.

The industrial products company reported $0.03 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.01 by $0.02. Sharps Compliance had a negative return on equity of 1.64% and a negative net margin of 1.00%. The firm had revenue of $12.17 million for the quarter, compared to analysts’ expectations of $10.77 million.

SMED has been the topic of several research reports. Zacks Investment Research cut Sharps Compliance from a “hold” rating to a “strong sell” rating in a report on Saturday, May 25th. TheStreet raised Sharps Compliance from a “d+” rating to a “c-” rating in a report on Wednesday. Robert W. Baird initiated coverage on Sharps Compliance in a report on Wednesday, July 24th. They issued a “buy” rating and a $4.50 target price on the stock. Barrington Research reaffirmed a “buy” rating and issued a $4.50 target price on shares of Sharps Compliance in a report on Tuesday, May 21st. Finally, Roth Capital began coverage on Sharps Compliance in a report on Wednesday, July 24th. They issued a “buy” rating and a $4.50 target price on the stock. One research analyst has rated the stock with a sell rating and three have given a buy rating to the company. Sharps Compliance presently has an average rating of “Buy” and a consensus target price of $4.38.

In related news, Director Parris H. Holmes, Jr. acquired 40,000 shares of Sharps Compliance stock in a transaction on Thursday, June 13th. The shares were bought at an average cost of $3.31 per share, with a total value of $132,400.00. Following the completion of the purchase, the director now directly owns 942,027 shares of the company’s stock, valued at approximately $3,118,109.37. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have acquired 46,250 shares of company stock worth $153,075 over the last three months. 20.70% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. BlackRock Inc. boosted its position in shares of Sharps Compliance by 3.8% during the second quarter. BlackRock Inc. now owns 108,739 shares of the industrial products company’s stock valued at $387,000 after buying an additional 4,013 shares during the period. Lapides Asset Management LLC boosted its position in shares of Sharps Compliance by 13.3% during the second quarter. Lapides Asset Management LLC now owns 164,700 shares of the industrial products company’s stock valued at $586,000 after buying an additional 19,300 shares during the period. Morgan Stanley boosted its position in shares of Sharps Compliance by 34.3% during the second quarter. Morgan Stanley now owns 188,699 shares of the industrial products company’s stock valued at $672,000 after buying an additional 48,199 shares during the period. Wells Fargo & Company MN boosted its position in shares of Sharps Compliance by 8.3% during the second quarter. Wells Fargo & Company MN now owns 424,814 shares of the industrial products company’s stock valued at $1,512,000 after buying an additional 32,600 shares during the period. Finally, Quantum Capital Management boosted its position in shares of Sharps Compliance by 0.6% during the first quarter. Quantum Capital Management now owns 522,569 shares of the industrial products company’s stock valued at $1,913,000 after buying an additional 3,223 shares during the period. 20.19% of the stock is currently owned by institutional investors.

The company has a 50-day simple moving average of $3.66 and a 200-day simple moving average of $3.58. The firm has a market cap of $61.18 million, a PE ratio of 406.02, a price-to-earnings-growth ratio of 1.62 and a beta of 0.24. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.49 and a quick ratio of 1.95.

Sharps Compliance Company Profile (NASDAQ:SMED)

Sharps Compliance Corp. provides medical, pharmaceutical, and hazardous waste management services in the United States. It offers Sharps Recovery System for the containment, transportation, treatment, and tracking of medical waste and used healthcare materials generated outside the hospital and health care facility settings; TakeAway Medication Recovery System, a solution that facilitates the proper disposal of unused medications; MedSafe, a solution for the safe collection, transportation, and proper disposal of unwanted and expired prescription medications; and ComplianceTRAC, a Web-based compliance and training program.

Further Reading: Oversold

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