Bank of Nova Scotia Takes Position in Stericycle, Inc. (NASDAQ:SRCL)
Bank of Nova Scotia purchased a new position in Stericycle, Inc. (NASDAQ:SRCL) during the first quarter, according to its most recent filing with the SEC. The institutional investor purchased 17,516 shares of the business services provider’s stock, valued at approximately $1,452,000.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Pacad Investment Ltd. purchased a new stake in Stericycle during the fourth quarter valued at approximately $100,000. Kernodle & Katon Asset Management Group LLC bought a new position in Stericycle during the first quarter valued at about $100,000. Heritage Trust Co bought a new position in Stericycle during the first quarter valued at about $124,000. Pacer Advisors Inc. increased its position in shares of Stericycle by 3.3% in the first quarter. Pacer Advisors Inc. now owns 1,735 shares of the business services provider’s stock valued at $144,000 after buying an additional 55 shares during the period. Finally, Invictus RG acquired a new position in shares of Stericycle during the first quarter valued at $145,000. Hedge funds and other institutional investors own 95.12% of the company’s stock.
Shares of Stericycle, Inc. (NASDAQ:SRCL) traded up 8.87% on Thursday, reaching $82.76. The company’s stock had a trading volume of 2,752,977 shares. The company has a 50 day moving average of $76.84 and a 200 day moving average of $80.67. The stock has a market capitalization of $7.06 billion, a P/E ratio of 43.10 and a beta of 0.13. Stericycle, Inc. has a 1-year low of $71.52 and a 1-year high of $90.45.
Stericycle (NASDAQ:SRCL) last issued its earnings results on Thursday, May 4th. The business services provider reported $1.09 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.05 by $0.04. The business had revenue of $892.40 million for the quarter, compared to analysts’ expectations of $874.34 million. Stericycle had a return on equity of 14.40% and a net margin of 5.23%. The company’s quarterly revenue was up 2.1% on a year-over-year basis. During the same period in the previous year, the firm posted $1.11 EPS. Equities research analysts expect that Stericycle, Inc. will post $4.62 earnings per share for the current fiscal year.
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Several equities analysts recently weighed in on SRCL shares. Zacks Investment Research upgraded shares of Stericycle from a “hold” rating to a “buy” rating and set a $85.00 price target on the stock in a report on Wednesday, July 5th. Barclays PLC began coverage on shares of Stericycle in a report on Thursday, April 13th. They issued an “overweight” rating and a $100.00 price target on the stock. BidaskClub cut shares of Stericycle from a “sell” rating to a “strong sell” rating in a research note on Tuesday. Jefferies Group LLC reaffirmed a “buy” rating and set a $108.00 price objective on shares of Stericycle in a research note on Thursday, July 13th. Finally, BMO Capital Markets began coverage on shares of Stericycle in a research note on Thursday, June 29th. They set a “market perform” rating and a $81.00 price objective on the stock. Four investment analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating to the company. Stericycle currently has a consensus rating of “Hold” and an average price target of $81.15.
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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