Stericycle (NASDAQ:SRCL) Price Target Lowered to $50.00 at Truist Financial

Stericycle (NASDAQ:SRCL) had its price target reduced by Truist Financial from $57.00 to $50.00 in a research note published on Monday, Benzinga reports. They currently have a hold rating on the business services provider’s stock.

Several other equities analysts have also commented on the stock. Royal Bank of Canada reaffirmed an outperform rating and set a $69.00 target price on shares of Stericycle in a report on Thursday, March 7th. StockNews.com cut Stericycle from a buy rating to a hold rating in a research note on Tuesday, April 2nd. Stifel Nicolaus boosted their target price on Stericycle from $70.00 to $75.00 and gave the company a buy rating in a research note on Thursday, February 29th. Wells Fargo & Company raised their price target on Stericycle from $40.00 to $48.00 and gave the stock an underweight rating in a research report on Friday, March 1st. Finally, Robert W. Baird dropped their price objective on Stericycle from $62.00 to $55.00 and set a neutral rating for the company in a research note on Friday. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of Hold and an average price target of $59.40.

Stericycle Stock Performance

NASDAQ SRCL opened at $45.42 on Monday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.11 and a current ratio of 1.11. The stock’s 50-day simple moving average is $51.27 and its two-hundred day simple moving average is $48.26. Stericycle has a twelve month low of $37.78 and a twelve month high of $57.06.

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

Institutional Investors Weigh In On Stericycle

Institutional investors and hedge funds have recently modified their holdings of the stock. GAMMA Investing LLC raised its stake in Stericycle by 170.9% in the first quarter. GAMMA Investing LLC now owns 818 shares of the business services provider’s stock worth $43,000 after buying an additional 516 shares in the last quarter. Principal Securities Inc. bought a new position in shares of Stericycle in the 4th quarter worth approximately $41,000. TFO Wealth Partners LLC lifted its stake in shares of Stericycle by 22,325.0% in the 4th quarter. TFO Wealth Partners LLC now owns 897 shares of the business services provider’s stock valued at $44,000 after purchasing an additional 893 shares during the period. Ramirez Asset Management Inc. purchased a new stake in Stericycle in the third quarter worth $45,000. Finally, Exchange Traded Concepts LLC raised its holdings in Stericycle by 87.5% in the third quarter. Exchange Traded Concepts LLC now owns 1,001 shares of the business services provider’s stock worth $45,000 after purchasing an additional 467 shares in the last quarter. 98.82% of the stock is owned by hedge funds and other institutional investors.

About Stericycle

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.