CIBC Asset Management Inc Increases Stake in Stericycle, Inc. (NASDAQ:SRCL)
CIBC Asset Management Inc increased its position in Stericycle, Inc. (NASDAQ:SRCL) by 0.2% during the second quarter, Holdings Channel reports. The fund owned 9,287 shares of the business services provider’s stock after buying an additional 23 shares during the period. CIBC Asset Management Inc’s holdings in Stericycle were worth $709,000 at the end of the most recent quarter.
Other hedge funds also recently bought and sold shares of the company. BlackRock Inc. boosted its stake 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 worth $421,877,000 after buying an additional 4,947,900 shares during the last quarter. Ameriprise Financial Inc. raised its position in shares of Stericycle by 144.9% in the first quarter. Ameriprise Financial Inc. now owns 1,901,243 shares of the business services provider’s stock worth $157,594,000 after buying an additional 1,124,908 shares during the period. Wedge Capital Management L L P NC acquired a new position in shares of Stericycle during the first quarter worth approximately $43,949,000. Wells Fargo & Company MN raised its position in shares of 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 worth $162,149,000 after buying an additional 398,076 shares during the period. Finally, Jennison Associates LLC raised its position in shares of Stericycle by 32.7% in the first quarter. Jennison Associates LLC now owns 1,417,498 shares of the business services provider’s stock worth $117,496,000 after buying an additional 349,371 shares during the period. 94.56% of the stock is currently owned by hedge funds and other institutional investors.
Stericycle, Inc. (NASDAQ SRCL) opened at 71.95 on Tuesday. The company has a 50-day moving average of $76.31 and a 200 day moving average of $80.36. The firm’s market cap is $6.14 billion. Stericycle, Inc. has a 12-month low of $70.24 and a 12-month high of $88.00.
Stericycle (NASDAQ:SRCL) last announced its quarterly 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 business had revenue of $917.70 million for the quarter, compared to analyst estimates of $902.81 million. Stericycle had a negative net margin of 0.07% and a positive return on equity of 14.35%. The company’s revenue was up 2.9% on a year-over-year basis. During the same quarter last year, the firm earned $1.18 EPS. Equities analysts expect that Stericycle, Inc. will post $4.60 EPS for the current fiscal year.
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A number of brokerages have recently commented on SRCL. Jefferies Group LLC set a $108.00 price target on shares of Stericycle and gave the stock a “buy” rating in a report on Saturday, May 6th. Zacks Investment Research upgraded shares of Stericycle from a “hold” rating to a “buy” rating and set a $97.00 price target on the stock in a report on Tuesday, April 25th. Robert W. Baird lowered shares of Stericycle from a “neutral” rating to an “underperform” rating and cut their price target for the stock from $74.00 to $73.00 in a report on Friday, May 5th. Deutsche Bank AG cut their price target on shares of Stericycle from $14.00 to $10.00 and set a “buy” rating on the stock in a report on Monday, May 15th. Finally, BMO Capital Markets began coverage on shares of Stericycle in a report on Thursday, June 29th. They set 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 issued a hold rating and six have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $81.15.
Stericycle Company Profile
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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