Comerica Bank Decreases Stake in Stericycle, Inc. (NASDAQ:SRCL)

Comerica Bank lowered its stake in shares of Stericycle, Inc. (NASDAQ:SRCL – Get Rating) by 1.0% during the third quarter, Holdings Channel reports. The institutional investor owned 43,250 shares of the business services provider’s stock after selling 419 shares during the period. Comerica Bank’s holdings in Stericycle were worth $1,808,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC boosted its stake in shares of Stericycle by 97.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 572 shares of the business services provider’s stock worth $25,000 after acquiring an additional 282 shares in the last quarter. Quadrant Capital Group LLC boosted its stake in shares of Stericycle by 495.1% during the 2nd quarter. Quadrant Capital Group LLC now owns 726 shares of the business services provider’s stock worth $32,000 after acquiring an additional 604 shares in the last quarter. Ancora Advisors LLC purchased a new stake in Stericycle during the first quarter worth $34,000. Ronald Blue Trust Inc. purchased a new stake in Stericycle during the second quarter worth $76,000. Finally, Covestor Ltd boosted its position in Stericycle by 117.2% during the first quarter. Covestor Ltd now owns 1,553 shares of the business services provider’s stock worth $92,000 after purchasing an additional 838 shares in the last quarter. Hedge funds and other institutional investors own 98.06% of the company’s stock.

Stericycle Stock Up 1.4 %

Shares of NASDAQ:SRCL opened at $52.82 on Friday. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.71. Stericycle, Inc. has a 52-week low of $39.63 and a 52-week high of $60.35. The stock’s fifty day simple moving average is $51.16 and its 200-day simple moving average is $48.35. The company has a market capitalization of $4.87 billion, a P/E ratio of 754.57, a P/E/G ratio of 2.78 and a beta of 1.28.

Stericycle (NASDAQ:SRCL – Get Rating) last released its earnings results on Thursday, November 3rd. The business services provider reported $0.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.59 by $0.06. The company had revenue of $690.30 million for the quarter, compared to analyst estimates of $675.21 million. Stericycle had a net margin of 0.26% and a return on equity of 7.10%. The firm’s quarterly revenue was up 6.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.44 EPS. As a group, equities research analysts forecast that Stericycle, Inc. will post 2.05 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded shares of Stericycle from a “hold” rating to a “buy” rating in a research report on Wednesday, November 16th. Two research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, Stericycle has a consensus rating of “Moderate Buy” and a consensus target price of $54.50.

Stericycle Company Profile

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Stericycle, Inc, together with its subsidiaries, provides regulated and compliance solutions in the United States, Europe, and internationally. The company offers regulated waste and compliance services, including sharps disposable and management solutions; pharmaceutical waste services; hazardous waste disposal; maritime waste services, such as seaport and airport waste; and compliance programs under the Steri-Safe, Clinical Services, First Practice Management, SeguriMed, and EnviroAssure brand names.