Geode Capital Management LLC, a Boston-based institutional investor, has reportedly increased its stake in Stericycle, Inc. (NASDAQ:SRCL) by 4.6%. As of the fourth quarter of the previous fiscal year, Geode Capital Management LLC owned around 1.43% of Stericycle worth $65,825,000 following the purchase of an additional 58,193 shares.
Stericycle is a business services provider known for its expertise in medical and hazardous waste management and disposal. The Illinois-based company operates across North America, Latin America, Europe and Asia through several subsidiaries.
The company’s stock traded at $45.51 with over 49,305 shares exchanged hands on June 12, 2023. Stericycle’s one-year low was recorded at $39.63 while last year saw a high of $56.12.
Investors keen on keeping track of hedge funds holding SRCL can visit HoldingsChannel.com to access detailed information such as insider trades and latest filings made by Sternicle.
In May 2023, the company announced their first-quarter results that indicated revenue growth in their communication and related services segment but lower revenue from biohazardous waste services due to reduced procedures resulting from pandemic-related restrictions.
A quick glance at Stericycle’s financial history shows some interesting patterns that investors need to consider before investing their capital into this business services provider.
Stericycle has an impressive market capitalization valued at about $4.21 billion based on its current trading price. However potential investors may be hesitant due to the higher than average debt-to-equity ratio (0.61). In addition, analysts have noted that Stericycle’s price-to-earnings-growth ratio is relatively high at 2.96 compared to industry peers signifying future earnings growth may not match the current expectations set out in share prices which may scare off some investors.
Overall though it is important for investors interested in Stericycle to be mindful of these important details before making any investment decisions.
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Institutional Investors Boost Shares of Stericycle, Inc. as Financial Analysts Offer Varied Ratings
Stericycle, Inc. is a globally recognized firm providing regulated waste and compliance solutions in the United States, Europe, and across international boundaries. Their services encompass medical waste management and disposal, pharmaceutical waste management and disposal, sharps waste management, controlled substance waste disposal, healthcare hazardous waste, COVID-19 waste disposal and much more.
Recently Louisiana State Employees Retirement System boosted its position in Stericycle by 0.8%, followed by the State of Michigan Retirement System increasing its share by almost the same percentage during the 4th quarter. Eaton Vance Management grew its position in Stericycle by 0.3% during the third quarter with an additional purchase of 224 shares now they hold 75,745 shares of the business services provider stock valued at $3,190,000 after this purchase. Teacher Retirement System of Texas grew its holdings in Stericycle by 1.8% during the same time interval aided with an additional acquisition of 232 shares worth $669k for holding values while Thrivent Financial for Lutherans increased its position in Stericycle by another 1% during Q3 – accumulating 24,397 shares worth $1 million just days before year-end.
Institutional investors such as these own over ninety-eight percent of the company’s stock deserving meticulous scrutiny due to their financial expertise and ability to influence market trends significantly.
Analysts from Truist Financial initiated coverage on SRCL on Monday April 17th rating it as a “hold” with a price objective of $45.00. Meanwhile StockNews.com gave it a “buy” rating on Thursday May18th boosting investor confidence in Stericycle to surge investments.
Additionally, TheStreet rated Stericycle from D+ to C indicating some potentially positive growths while Robert W Baird rated it as neutral bringing down its attainable price per share from $65 to $53.
In conclusion, Stencil would continue upholding high standards demonstrated by institutional investors while monitoring any significant changes or improvements being reviewed by financial analysts in Stericycle to make informed investment decisions for those interested in the health care sector.
