Sumitomo Mitsui Asset Management Company LTD Increases Stake in Stericycle Inc (SRCL)
Sumitomo Mitsui Asset Management Company LTD grew its position in Stericycle Inc (NASDAQ:SRCL) by 32.0% during the first quarter, HoldingsChannel.com reports. The firm owned 24,589 shares of the business services provider’s stock after acquiring an additional 5,964 shares during the period. Sumitomo Mitsui Asset Management Company LTD’s holdings in Stericycle were worth $1,338,000 as of its most recent filing with the SEC.
Other hedge funds have also recently made changes to their positions in the company. JOYN Advisors Inc. boosted its stake in shares of Stericycle by 1,253.7% in the fourth quarter. JOYN Advisors Inc. now owns 731 shares of the business services provider’s stock worth $27,000 after buying an additional 677 shares during the last quarter. Bronfman E.L. Rothschild L.P. boosted its stake in shares of Stericycle by 159.5% in the fourth quarter. Bronfman E.L. Rothschild L.P. now owns 807 shares of the business services provider’s stock worth $30,000 after buying an additional 496 shares during the last quarter. Pearl River Capital LLC purchased a new stake in shares of Stericycle in the fourth quarter worth about $41,000. Oregon Public Employees Retirement Fund boosted its stake in shares of Stericycle by 6,998.9% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 1,638,209 shares of the business services provider’s stock worth $45,000 after buying an additional 1,615,132 shares during the last quarter. Finally, Blue Sky Asset Management LLC purchased a new stake in shares of Stericycle in the first quarter worth about $60,000. 96.52% of the stock is currently owned by institutional investors and hedge funds.
SRCL has been the topic of a number of recent research reports. BMO Capital Markets upped their target price on Stericycle from $41.00 to $45.00 and gave the stock a “market perform” rating in a research note on Monday, March 4th. Robert W. Baird downgraded Stericycle from a “neutral” rating to an “underperform” rating and set a $44.00 target price on the stock. in a research note on Wednesday, April 17th. Zacks Investment Research downgraded Stericycle from a “hold” rating to a “strong sell” rating in a research note on Tuesday, May 7th. Barrington Research lowered their target price on Stericycle from $64.00 to $55.00 and set an “outperform” rating on the stock in a research note on Monday, March 11th. Finally, Goldman Sachs Group upgraded Stericycle from a “neutral” rating to a “buy” rating and set a $66.00 target price on the stock in a research note on Friday, March 1st. Four analysts have rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $59.00.
Stericycle (NASDAQ:SRCL) last issued its quarterly earnings results on Thursday, February 28th. The business services provider reported $1.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.96 by $0.07. The company had revenue of $852.70 million for the quarter, compared to the consensus estimate of $848.75 million. Stericycle had a positive return on equity of 12.56% and a negative net margin of 8.92%. On average, research analysts predict that Stericycle Inc will post 3.34 earnings per share for the current fiscal year.
In other Stericycle news, Director Mark C. Miller sold 260,314 shares of the stock in a transaction that occurred on Tuesday, April 9th. The stock was sold at an average price of $57.18, for a total transaction of $14,884,754.52. Following the transaction, the director now owns 325,848 shares in the company, valued at $18,631,988.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 2.30% of the company’s stock.
Stericycle, Inc, together with its subsidiaries, provides regulated and compliance solutions to the healthcare, retail, and commercial businesses in the United States and internationally. It operates through three segments: Domestic and Canada Regulated Waste and Compliance; International Regulated Waste and Compliance; and Domestic Communication and Related Services.
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