Sotera Health (NASDAQ:SHC) Stock Gets Price Target Cut from JPMorgan Chase & Co.

Sotera Health (NASDAQ:SHC) had its price objective lowered by JPMorgan Chase & Co. from $17.00 to $15.00 in a research note released on Wednesday,Benzinga reports. The brokerage currently has an underweight rating on the stock.

SHC has been the topic of several other research reports. Weiss Ratings cut Sotera Health from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, October 23rd. Piper Sandler reaffirmed an “overweight” rating and set a $25.00 target price on shares of Sotera Health in a research report on Tuesday, September 8th. Citigroup lifted their target price on Sotera Health from $23.00 to $25.00 and gave the stock a “buy” rating in a research note on Friday, August 7th. Wall Street Zen upgraded shares of Sotera Health from a “buy” rating to a “strong-buy” rating in a report on Sunday, October 25th. Finally, Barclays lowered their price objective on shares of Sotera Health from $22.00 to $20.00 and set an “overweight” rating on the stock in a research report on Wednesday. Eight investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $20.88.

Sotera Health Stock Up 0.9%

SHC traded up $0.14 during mid-day trading on Wednesday, reaching $16.01. 2,199,215 shares of the stock were exchanged, compared to its average volume of 2,134,572. The company has a debt-to-equity ratio of 3.33, a quick ratio of 2.55 and a current ratio of 2.80. The stock has a market capitalization of $4.57 billion, a PE ratio of 26.68 and a beta of 1.94. The company has a 50 day moving average price of $18.22 and a two-hundred day moving average price of $16.97. Sotera Health has a 1 year low of $13.09 and a 1 year high of $19.85.

Sotera Health (NASDAQ:SHC) last posted its quarterly earnings data on Tuesday, November 3rd. The company reported $0.29 EPS for the quarter, beating the consensus estimate of $0.27 by $0.02. Sotera Health had a net margin of 13.44% and a return on equity of 40.12%. The firm had revenue of $324.89 million during the quarter, compared to analyst estimates of $319.86 million. During the same quarter last year, the business posted $0.26 EPS. The company’s revenue for the quarter was up 4.4% on a year-over-year basis. As a group, research analysts anticipate that Sotera Health will post 0.87 EPS for the current year.

Insider Activity at Sotera Health

In other news, Chairman Michael B. Jr. Petras sold 850,000 shares of the stock in a transaction on Monday, August 17th. The stock was sold at an average price of $18.50, for a total transaction of $15,725,000.00. Following the completion of the transaction, the chairman owned 3,969,393 shares in the company, valued at approximately $73,433,770.50. This represents a 17.64% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 15.36% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Sotera Health

Large investors have recently added to or reduced their stakes in the company. BlackRock Inc. bought a new position in Sotera Health during the second quarter worth about $428,635,000. Sculptor Capital LP purchased a new stake in shares of Sotera Health during the 2nd quarter valued at approximately $426,000,000. Jupiter Topco LLC purchased a new stake in shares of Sotera Health during the 2nd quarter valued at approximately $149,137,000. Two Seas Capital LP bought a new position in Sotera Health in the 2nd quarter worth approximately $103,590,000. Finally, Lakewood Capital Management LP bought a new position in Sotera Health in the 2nd quarter worth approximately $70,638,000. Hedge funds and other institutional investors own 91.03% of the company’s stock.

About Sotera Health

Sotera Health Company (NASDAQ: SHC) is a healthcare services company focused on sterilization, laboratory testing and infection prevention. Its services support manufacturers and providers across the medical device, pharmaceutical, tissue, food safety and other healthcare-related industries.

The company operates through three primary businesses. Sterigenics provides outsourced sterilization services, including ethylene oxide, gamma irradiation and electron-beam processing. Nelson Labs offers laboratory testing, analytical services and consulting for medical devices, pharmaceuticals and other healthcare products.