Sotera Health (NASDAQ:SHC) Lifted to “Buy” at Citigroup

Sotera Health (NASDAQ:SHCGet Free Report) was upgraded by equities researchers at Citigroup from a “neutral” rating to a “buy” rating in a research report issued on Wednesday, Marketbeat.com reports. The brokerage currently has a $16.00 price objective on the stock, down from their prior price objective of $18.00. Citigroup’s target price indicates a potential upside of 40.60% from the stock’s previous close.

A number of other research analysts have also weighed in on the company. Royal Bank of Canada restated an “outperform” rating and issued a $20.00 price objective on shares of Sotera Health in a report on Monday, March 4th. Barclays raised their price objective on Sotera Health from $17.00 to $19.00 and gave the company an “overweight” rating in a report on Wednesday, February 28th. KeyCorp initiated coverage on Sotera Health in a report on Tuesday, February 6th. They issued a “sector weight” rating on the stock. TheStreet raised Sotera Health from a “d” rating to a “c-” rating in a research note on Tuesday, February 27th. Finally, Jefferies Financial Group raised Sotera Health from a “hold” rating to a “buy” rating and raised their target price for the stock from $15.00 to $15.50 in a research note on Monday, March 25th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $18.70.

Read Our Latest Research Report on SHC

Sotera Health Price Performance

Shares of NASDAQ:SHC opened at $11.38 on Wednesday. Sotera Health has a twelve month low of $10.74 and a twelve month high of $19.40. The company’s 50 day moving average is $14.53 and its 200 day moving average is $14.55. The company has a current ratio of 2.42, a quick ratio of 2.21 and a debt-to-equity ratio of 5.16. The company has a market cap of $3.22 billion, a PE ratio of 63.22 and a beta of 2.11.

Sotera Health (NASDAQ:SHCGet Free Report) last issued its quarterly earnings results on Tuesday, February 27th. The company reported $0.26 earnings per share for the quarter, hitting the consensus estimate of $0.26. Sotera Health had a net margin of 4.90% and a return on equity of 51.32%. The company had revenue of $310.24 million for the quarter, compared to the consensus estimate of $302.17 million. During the same quarter in the prior year, the company earned $0.23 EPS. Sotera Health’s quarterly revenue was up 23.3% on a year-over-year basis. On average, sell-side analysts forecast that Sotera Health will post 0.64 EPS for the current year.

Insider Buying and Selling

In other Sotera Health news, insider Michael P. Rutz sold 83,109 shares of Sotera Health stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $14.31, for a total value of $1,189,289.79. Following the completion of the transaction, the insider now directly owns 544,409 shares of the company’s stock, valued at approximately $7,790,492.79. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, insider Michael P. Rutz sold 83,109 shares of Sotera Health stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $14.31, for a total value of $1,189,289.79. Following the completion of the transaction, the insider now owns 544,409 shares in the company, valued at approximately $7,790,492.79. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Pincus & Co. Warburg sold 16,594,363 shares of Sotera Health stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $14.31, for a total value of $237,465,334.53. Following the completion of the transaction, the director now owns 88,822,952 shares of the company’s stock, valued at approximately $1,271,056,443.12. The disclosure for this sale can be found here. Corporate insiders own 65.13% of the company’s stock.

Hedge Funds Weigh In On Sotera Health

Several hedge funds and other institutional investors have recently made changes to their positions in SHC. Acadian Asset Management LLC purchased a new stake in Sotera Health in the first quarter valued at approximately $30,000. BNP Paribas Arbitrage SNC acquired a new position in shares of Sotera Health in the third quarter valued at approximately $37,000. Jefferies Financial Group Inc. acquired a new position in shares of Sotera Health in the fourth quarter valued at approximately $43,000. Osaic Holdings Inc. increased its holdings in shares of Sotera Health by 100.7% in the second quarter. Osaic Holdings Inc. now owns 2,549 shares of the company’s stock valued at $48,000 after purchasing an additional 1,279 shares during the period. Finally, Wells Fargo & Company MN increased its holdings in shares of Sotera Health by 30.7% in the fourth quarter. Wells Fargo & Company MN now owns 6,455 shares of the company’s stock valued at $54,000 after purchasing an additional 1,518 shares during the period. Hedge funds and other institutional investors own 91.03% of the company’s stock.

About Sotera Health

(Get Free Report)

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.

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