Stifel Financial Corp has disclosed a reduction in its ownership stake in Stericycle, Inc. (NASDAQ: SRCL – Free Report) by 5.7% during the third quarter, as per the company’s latest Form 13F filing with the Securities and Exchange Commission.
The institutional investor now holds 42,241 shares of the business services provider’s stock, following the sale of 2,558 shares during the period. Stifel Financial Corp’s holdings in Stericycle were valued at $1,889,000 at the close of the reporting period.
Furthermore, several other hedge funds have also adjusted their holdings in the stock. Vanguard Group Inc. boosted its stake in Stericycle by 1.6% in the third quarter, now owning 8,681,888 shares valued at $365,594,000 after acquiring an additional 139,456 shares in the last quarter.
Alliancebernstein L.P. increased its stake by 1.8% in the fourth quarter, holding 6,963,391 shares valued at $347,404,000 after purchasing an additional 124,712 shares. Similarly, Clarkston Capital Partners LLC raised its stake by 0.8% in the third quarter, owning 6,524,331 shares valued at $291,703,000 after acquiring an additional 52,087 shares.
Black Creek Investment Management Inc. and Capital Research Global Investors also saw increases in their stakes in Stericycle. Notably, 98.82% of the stock is currently held by institutional investors and hedge funds.
Regarding Stericycle’s stock performance, it opened at $52.20 on Monday, with a 50-day moving average price of $49.59 and a 200-day moving average price of $46.54.
The company has a market capitalization of $4.83 billion, a price-to-earnings ratio of -217.50, and a debt-to-equity ratio of 0.51. Stericycle, Inc. has traded within a range of $37.78 to $57.06 over the past 52 weeks.
Stericycle (NASDAQ: SRCL) recently reported its quarterly earnings results, surpassing analysts’ consensus estimates with earnings per share (EPS) of $0.54 for the quarter.
The company’s revenue for the quarter was $652.00 million, slightly below the consensus estimate of $657.99 million. Research analysts anticipate Stericycle, Inc. to post 2.3 EPS for the current fiscal year.
In terms of analyst recommendations, StockNews.com upgraded Stericycle from a “hold” to a “buy” rating, while Wells Fargo & Company raised their price target on the stock from $40.00 to $48.00, assigning it an “underweight” rating.
Truist Financial and Stifel Nicolaus also adjusted their price targets for Stericycle, while Royal Bank of Canada reaffirmed an “outperform” rating with a $69.00 price target. Overall, MarketBeat.com reports a consensus rating of “Hold” for Stericycle with an average target price of $62.25.
