Principal Financial Group Inc. Increases Stock Holdings in Sotera Health Company $SHC

Principal Financial Group Inc. boosted its holdings in Sotera Health Company (NASDAQ:SHC) by 12.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 391,447 shares of the company’s stock after purchasing an additional 43,337 shares during the quarter. Principal Financial Group Inc. owned approximately 0.14% of Sotera Health worth $6,157,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Thrivent Financial for Lutherans grew its holdings in Sotera Health by 32.0% in the 3rd quarter. Thrivent Financial for Lutherans now owns 47,633 shares of the company’s stock valued at $749,000 after buying an additional 11,542 shares during the period. Arizona State Retirement System grew its holdings in Sotera Health by 1.4% in the third quarter. Arizona State Retirement System now owns 46,183 shares of the company’s stock valued at $726,000 after purchasing an additional 621 shares during the period. Federated Hermes Inc. increased its position in Sotera Health by 9.9% during the third quarter. Federated Hermes Inc. now owns 15,732 shares of the company’s stock worth $247,000 after purchasing an additional 1,423 shares during the last quarter. Mutual of America Capital Management LLC raised its stake in Sotera Health by 6.7% during the third quarter. Mutual of America Capital Management LLC now owns 81,331 shares of the company’s stock worth $1,279,000 after purchasing an additional 5,104 shares during the period. Finally, Retirement Systems of Alabama boosted its holdings in shares of Sotera Health by 13.7% in the 3rd quarter. Retirement Systems of Alabama now owns 212,925 shares of the company’s stock valued at $3,349,000 after purchasing an additional 25,578 shares during the last quarter. 91.03% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Zacks Research downgraded Sotera Health from a “strong-buy” rating to a “hold” rating in a report on Friday, January 30th. Piper Sandler upgraded Sotera Health from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $17.00 to $24.00 in a research note on Friday, January 9th. JPMorgan Chase & Co. lifted their price objective on Sotera Health from $14.00 to $16.00 and gave the company a “neutral” rating in a research note on Wednesday, November 5th. Royal Bank Of Canada started coverage on Sotera Health in a report on Thursday, January 8th. They set an “outperform” rating and a $24.00 target price for the company. Finally, William Blair started coverage on shares of Sotera Health in a report on Thursday, December 18th. They issued an “outperform” rating on the stock. Seven analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $20.00.

Sotera Health Trading Up 0.9%

SHC opened at $17.12 on Friday. The firm’s 50 day moving average is $17.92 and its 200-day moving average is $16.52. Sotera Health Company has a 52-week low of $9.53 and a 52-week high of $19.85. The company has a quick ratio of 2.18, a current ratio of 2.38 and a debt-to-equity ratio of 4.04. The firm has a market capitalization of $4.86 billion, a P/E ratio of 90.11 and a beta of 1.82.

Insiders Place Their Bets

In related news, Director Gtcr Investment Xi Llc sold 6,480,000 shares of the business’s stock in a transaction dated Wednesday, December 3rd. The stock was sold at an average price of $16.33, for a total value of $105,818,400.00. Following the transaction, the director owned 22,735,301 shares in the company, valued at approximately $371,267,465.33. The trade was a 22.18% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Pincus & Co. Warburg sold 9,720,000 shares of the stock in a transaction dated Wednesday, December 3rd. The shares were sold at an average price of $16.33, for a total value of $158,727,600.00. Following the completion of the transaction, the director directly owned 34,102,952 shares of the company’s stock, valued at $556,901,206.16. This represents a 22.18% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 17,384,104 shares of company stock worth $284,024,511 in the last quarter. 47.55% of the stock is owned by corporate insiders.

Sotera Health Company Profile

Sotera Health Inc (NASDAQ: SHC) is a global provider of sterilization and laboratory testing services that support the medical device, pharmaceutical, life sciences and consumer product industries. Headquartered in Jacksonville, Florida, the company offers a suite of services designed to ensure products meet rigorous safety and regulatory requirements before reaching market.

Sotera Health operates through three primary service platforms. Its Sterigenics division delivers contract sterilization solutions, including ethylene oxide (EtO), gamma irradiation, electron beam and X-ray technologies.