Sotera Health (NASDAQ:SHC) Posts Quarterly Earnings Results

Sotera Health (NASDAQ:SHC) announced its earnings results on Tuesday. The company reported $0.17 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.01), Briefing.com reports. The firm had revenue of $285.47 million during the quarter, compared to analyst estimates of $278.64 million. Sotera Health had a return on equity of 47.26% and a net margin of 3.65%. The business’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.18 earnings per share. Sotera Health updated its FY 2024 guidance to 0.670-0.750 EPS and its FY24 guidance to $0.67-0.75 EPS.

Sotera Health Price Performance

NASDAQ SHC traded up $0.69 on Wednesday, hitting $16.11. 1,429,448 shares of the company were exchanged, compared to its average volume of 1,306,564. The firm has a 50 day moving average of $15.94 and a two-hundred day moving average of $13.67. The company has a market cap of $4.56 billion, a P/E ratio of 112.93 and a beta of 2.08. The company has a current ratio of 2.93, a quick ratio of 2.59 and a debt-to-equity ratio of 5.46. Sotera Health has a 1-year low of $10.71 and a 1-year high of $17.44.

Analysts Set New Price Targets

Several analysts recently commented on SHC shares. Citigroup raised their price target on shares of Sotera Health from $18.00 to $20.00 and gave the stock a “buy” rating in a report on Wednesday. Barclays lifted their price target on shares of Sotera Health from $14.00 to $17.00 and gave the company an “overweight” rating in a research report on Tuesday, August 6th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $17.00 price target on shares of Sotera Health in a research report on Tuesday, August 6th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $16.50.

Insider Buying and Selling

In other Sotera Health news, Director Gtcr Investment Xi Llc sold 10,000,000 shares of the business’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $15.03, for a total transaction of $150,300,000.00. Following the completion of the sale, the director now directly owns 49,215,301 shares of the company’s stock, valued at approximately $739,705,974.03. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 55.12% of the stock is owned by corporate insiders.

Sotera Health Company Profile

Sotera Health Company engages in the provision of sterilization, lab testing, and advisory services in the United States and internationally. The company operates through three segments: Sterigenics, Nordion, and Nelson Labs. It provides mission-critical end-to-end sterilization services, including gamma and electron beam irradiation, and ethylene oxide processing, as well as designs, installs, and maintains gamma irradiation systems.