Stericycle, Inc. (NASDAQ:SRCL) Sees Large Growth in Short Interest

Stericycle, Inc. (NASDAQ:SRCL) was the recipient of a large growth in short interest in the month of August. As of August 15th, there was short interest totalling 4,110,000 shares, a growth of 51.1% from the July 31st total of 2,720,000 shares. Based on an average daily trading volume, of 1,810,000 shares, the short-interest ratio is currently 2.3 days.

Institutional Trading of Stericycle

Institutional investors have recently made changes to their positions in the business. Quarry LP increased its holdings in Stericycle by 121.3% during the second quarter. Quarry LP now owns 1,476 shares of the business services provider’s stock worth $86,000 after buying an additional 809 shares during the last quarter. Water Island Capital LLC acquired a new position in Stericycle during the second quarter worth $17,550,000. Northwestern Mutual Wealth Management Co. increased its holdings in Stericycle by 74.9% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,569 shares of the business services provider’s stock worth $91,000 after buying an additional 672 shares during the last quarter. Creative Planning increased its holdings in Stericycle by 13.4% during the second quarter. Creative Planning now owns 5,710 shares of the business services provider’s stock worth $332,000 after buying an additional 673 shares during the last quarter. Finally, Clearline Capital LP acquired a new position in Stericycle during the second quarter worth $7,386,000. Institutional investors own 98.82% of the company’s stock.

Analyst Ratings Changes

SRCL has been the topic of a number of research reports. Keefe, Bruyette & Woods lifted their price target on shares of Stericycle from $135.00 to $142.00 and gave the company an “outperform” rating in a research note on Tuesday, June 4th. Truist Financial lifted their price target on shares of Stericycle from $50.00 to $62.00 and gave the company a “hold” rating in a research note on Tuesday, June 4th. StockNews.com initiated coverage on shares of Stericycle in a research note on Saturday, August 24th. They issued a “hold” rating on the stock. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $62.00 price target (down previously from $69.00) on shares of Stericycle in a research note on Tuesday, June 4th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $74.00.

Stericycle Stock Up 0.4 %

Shares of SRCL stock traded up $0.25 during trading on Friday, reaching $59.26. The company’s stock had a trading volume of 1,059,211 shares, compared to its average volume of 1,002,069. The business has a fifty day moving average price of $58.46 and a 200-day moving average price of $53.78. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.55. The company has a market cap of $5.50 billion, a price-to-earnings ratio of -269.36, a price-to-earnings-growth ratio of 3.20 and a beta of 1.11. Stericycle has a one year low of $37.78 and a one year high of $59.45.

Stericycle (NASDAQ:SRCL) last announced its quarterly earnings data on Thursday, July 25th. The business services provider reported $0.61 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.04. The business had revenue of $661.60 million for the quarter, compared to analyst estimates of $672.07 million. Stericycle had a net margin of 1.37% and a return on equity of 7.94%. Analysts anticipate that Stericycle will post 2.29 earnings per share for the current year.

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.