Sharps Compliance (NASDAQ:SMED) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Wednesday, Zacks.com reports.

According to Zacks, “Headquartered in Houston, Texas, SHARPS COMPLIANCE is a leading provider of cost-effective disposal solutions for small quantity generators of medical waste. The Company’s flagship product, the Sharps Disposal by Mail System, is a cost-effective and easy-to-use solution to dispose of medical waste such as hypodermic needles, lancets and any other medical device or objects used to puncture or lacerate the skin. The Company also offers a number of products specifically designed for the home healthcare market. Sharps Compliance focuses on targeted growth markets such as the pharmaceutical, retail, healthcare, commercial, professional and hospitality markets, as well as serving a variety of additional markets. Sharps is a leading proponent and participant in the development of public awareness and solutions for the safe disposal of needles, syringes and other sharps in the community setting. “

SMED traded down $0.01 during trading on Wednesday, reaching $3.60. The company had a trading volume of 3,389 shares, compared to its average volume of 11,548. The stock has a market capitalization of $58.27 million, a P/E ratio of -90.00, a P/E/G ratio of 3.40 and a beta of 0.16. Sharps Compliance has a 12-month low of $2.97 and a 12-month high of $4.77. The company has a current ratio of 2.63, a quick ratio of 2.02 and a debt-to-equity ratio of 0.05.

Sharps Compliance (NASDAQ:SMED) last issued its quarterly earnings results on Wednesday, January 23rd. The industrial products company reported $0.05 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.03 by $0.02. Sharps Compliance had a negative return on equity of 0.21% and a negative net margin of 0.13%. The firm had revenue of $12.39 million for the quarter, compared to analysts’ expectations of $11.40 million. During the same quarter last year, the business posted $0.01 EPS. On average, research analysts predict that Sharps Compliance will post 0.06 earnings per share for the current year.

A hedge fund recently raised its stake in Sharps Compliance stock. Wells Fargo & Company MN increased its stake in Sharps Compliance Corp. (NASDAQ:SMED) by 16.0% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 321,500 shares of the industrial products company’s stock after purchasing an additional 44,400 shares during the quarter. Wells Fargo & Company MN owned approximately 2.00% of Sharps Compliance worth $1,109,000 at the end of the most recent reporting period. 20.55% of the stock is owned by institutional investors.

About Sharps Compliance

Sharps Compliance Corp. provides medical, pharmaceutical, and hazardous waste management services in the United States. It offers Sharps Recovery System for the containment, transportation, treatment, and tracking of medical waste and used healthcare materials generated outside the hospital and health care facility settings; TakeAway Medication Recovery System, a solution that facilitates the proper disposal of unused medications; MedSafe, a solution for the safe collection, transportation, and proper disposal of unwanted and expired prescription medications; and ComplianceTRAC, a Web-based compliance and training program.

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