State Treasurer State of Michigan held its stake in shares of Stericycle, Inc. (NASDAQ:SRCL) during the second quarter, according to its most recent disclosure with the SEC. The fund owned 27,981 shares of the business services provider’s stock at the end of the second quarter. State Treasurer State of Michigan’s holdings in Stericycle were worth $2,136,000 as of its most recent SEC filing.
Several other large investors have also recently modified their holdings of the stock. BlackRock Inc. boosted its position in Stericycle by 3,492.3% in the first quarter. BlackRock Inc. now owns 5,089,580 shares of the business services provider’s stock valued at $421,877,000 after buying an additional 4,947,900 shares during the last quarter. Ameriprise Financial Inc. boosted its position in Stericycle by 144.9% in the first quarter. Ameriprise Financial Inc. now owns 1,901,243 shares of the business services provider’s stock valued at $157,594,000 after buying an additional 1,124,908 shares during the last quarter. Wedge Capital Management L L P NC bought a new position in Stericycle during the first quarter valued at approximately $43,949,000. Wells Fargo & Company MN boosted its position in Stericycle by 25.5% in the first quarter. Wells Fargo & Company MN now owns 1,956,193 shares of the business services provider’s stock valued at $162,149,000 after buying an additional 398,076 shares during the last quarter. Finally, Jennison Associates LLC boosted its position in Stericycle by 32.7% in the first quarter. Jennison Associates LLC now owns 1,417,498 shares of the business services provider’s stock valued at $117,496,000 after buying an additional 349,371 shares during the last quarter. 94.56% of the stock is owned by institutional investors and hedge funds.
Shares of Stericycle, Inc. (NASDAQ SRCL) traded down 0.49% during mid-day trading on Friday, hitting $70.70. The stock had a trading volume of 633,268 shares. The stock’s market cap is $6.03 billion. Stericycle, Inc. has a 52 week low of $70.24 and a 52 week high of $88.00. The stock has a 50-day moving average price of $75.61 and a 200 day moving average price of $80.16.
Stericycle (NASDAQ:SRCL) last posted its earnings results on Thursday, August 3rd. The business services provider reported $1.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.13 by $0.02. The company had revenue of $917.70 million during the quarter, compared to analysts’ expectations of $902.81 million. Stericycle had a negative net margin of 0.07% and a positive return on equity of 14.35%. Stericycle’s quarterly revenue was up 2.9% compared to the same quarter last year. During the same quarter last year, the company posted $1.18 EPS. On average, equities analysts forecast that Stericycle, Inc. will post $4.60 EPS for the current fiscal year.
A number of brokerages have issued reports on SRCL. BidaskClub raised Stericycle from a “strong sell” rating to a “sell” rating in a report on Monday, July 24th. Jefferies Group LLC set a $108.00 target price on Stericycle and gave the company a “buy” rating in a report on Thursday, August 3rd. Robert W. Baird downgraded Stericycle from a “neutral” rating to an “underperform” rating and reduced their target price for the company from $74.00 to $73.00 in a report on Monday, May 15th. Deutsche Bank AG reduced their target price on Stericycle from $14.00 to $10.00 and set a “buy” rating for the company in a report on Monday, May 15th. Finally, BMO Capital Markets began coverage on Stericycle in a research report on Thursday, June 29th. They issued a “market perform” rating and a $81.00 price target on the stock. Four analysts have rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $81.15.
Stericycle, Inc is a business-to-business services provider. The Company focuses on regulated and compliance solutions for healthcare, retail, and commercial businesses. The Company’s segments include Domestic and Canada Regulated Waste and Compliance Services (RCS), Domestic Communication and Related Services (CRS), International RCS and All other.
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