Stericycle, Inc. (NASDAQ:SRCL) Short Interest Update

Stericycle, Inc. (NASDAQ:SRCL) was the target of a significant drop in short interest during the month of September. As of September 15th, there was short interest totalling 3,400,000 shares, a drop of 19.6% from the August 31st total of 4,230,000 shares. Based on an average daily volume of 1,360,000 shares, the days-to-cover ratio is presently 2.5 days.

Analysts Set New Price Targets

Several analysts have recently weighed in on SRCL shares. Truist Financial lifted their target price on Stericycle from $50.00 to $62.00 and gave the stock a “hold” rating in a research report on Tuesday, June 4th. StockNews.com started coverage on Stericycle in a research report on Wednesday. They set a “hold” rating for the company. Keefe, Bruyette & Woods lifted their target price on Stericycle from $135.00 to $142.00 and gave the stock an “outperform” rating in a research report on Tuesday, June 4th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $62.00 target price (down from $69.00) on shares of Stericycle in a research report on Tuesday, June 4th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $74.00.

Stericycle Stock Performance

Shares of Stericycle stock opened at $60.95 on Friday. The firm has a market cap of $5.66 billion, a P/E ratio of -277.05, a P/E/G ratio of 3.37 and a beta of 1.11. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.55. Stericycle has a 12 month low of $37.78 and a 12 month high of $61.77. The stock’s fifty day moving average price is $59.63 and its 200-day moving average price is $55.15.

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

Hedge Funds Weigh In On Stericycle

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in Stericycle in the second quarter valued at about $7,353,000. Clifford Capital Partners LLC increased its holdings in shares of Stericycle by 17.5% during the second quarter. Clifford Capital Partners LLC now owns 320,589 shares of the business services provider’s stock valued at $18,636,000 after acquiring an additional 47,729 shares in the last quarter. Sanctuary Advisors LLC acquired a new position in shares of Stericycle during the second quarter valued at about $913,000. Quarry LP increased its holdings in shares of Stericycle by 121.3% during the second quarter. Quarry LP now owns 1,476 shares of the business services provider’s stock valued at $86,000 after acquiring an additional 809 shares in the last quarter. Finally, Water Island Capital LLC acquired a new position in shares of Stericycle during the second quarter valued at about $17,550,000. Hedge funds and other institutional investors own 98.82% of the company’s stock.

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.