Palmer Knight Co Sells 1,000 Shares of Stericycle, Inc. (NASDAQ:SRCL)

Palmer Knight Co reduced its holdings in shares of Stericycle, Inc. (NASDAQ:SRCL) by 11.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 7,628 shares of the business services provider’s stock after selling 1,000 shares during the quarter. Palmer Knight Co’s holdings in Stericycle were worth $378,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the company. Ariel Investments LLC raised its holdings in Stericycle by 5.7% in the 3rd quarter. Ariel Investments LLC now owns 4,328,036 shares of the business services provider’s stock valued at $193,506,000 after acquiring an additional 233,612 shares in the last quarter. Robeco Schweiz AG grew its position in Stericycle by 17.6% during the 3rd quarter. Robeco Schweiz AG now owns 1,019,692 shares of the business services provider’s stock worth $45,590,000 after acquiring an additional 152,780 shares during the last quarter. Impax Asset Management Group plc grew its position in Stericycle by 4.9% during the 4th quarter. Impax Asset Management Group plc now owns 3,139,032 shares of the business services provider’s stock worth $154,396,000 after acquiring an additional 147,452 shares during the last quarter. Envestnet Asset Management Inc. grew its position in Stericycle by 62.3% during the 3rd quarter. Envestnet Asset Management Inc. now owns 329,971 shares of the business services provider’s stock worth $14,753,000 after acquiring an additional 126,700 shares during the last quarter. Finally, Earnest Partners LLC grew its position in Stericycle by 6.6% during the 3rd quarter. Earnest Partners LLC now owns 1,941,254 shares of the business services provider’s stock worth $86,793,000 after acquiring an additional 120,852 shares during the last quarter. 98.82% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on SRCL shares. Wells Fargo & Company upped their price target on Stericycle from $40.00 to $48.00 and gave the company an “underweight” rating in a research report on Friday, March 1st. Truist Financial dropped their price target on Stericycle from $57.00 to $50.00 and set a “hold” rating on the stock in a research note on Monday. Stifel Nicolaus upped their price target on Stericycle from $70.00 to $75.00 and gave the stock a “buy” rating in a research note on Thursday, February 29th. StockNews.com downgraded Stericycle from a “buy” rating to a “hold” rating in a research note on Tuesday, April 2nd. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $69.00 price objective on shares of Stericycle in a research note on Thursday, March 7th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, Stericycle currently has an average rating of “Hold” and a consensus price target of $59.40.

Stericycle Stock Performance

NASDAQ SRCL traded up $0.10 on Monday, hitting $46.41. 212,736 shares of the stock traded hands, compared to its average volume of 463,725. The business’s fifty day moving average is $51.35 and its two-hundred day moving average is $48.24. Stericycle, Inc. has a 12 month low of $37.78 and a 12 month high of $57.06. The firm has a market capitalization of $4.31 billion, a price-to-earnings ratio of -211.95, a PEG ratio of 2.49 and a beta of 1.09. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.11 and a current ratio of 1.11.

Stericycle (NASDAQ:SRCL) last posted its quarterly earnings results on Thursday, April 25th. The business services provider reported $0.57 EPS for the quarter, topping analysts’ consensus estimates of $0.54 by $0.03. Stericycle had a positive return on equity of 7.31% and a negative net margin of 0.74%. The firm had revenue of $664.90 million during the quarter, compared to analyst estimates of $676.42 million. During the same period last year, the company earned $0.49 earnings per share. The business’s revenue for the quarter was down 2.8% on a year-over-year basis. As a group, equities analysts anticipate that Stericycle, Inc. will post 2.32 EPS for the current fiscal year.

Stericycle Company 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.