Truist Financial Trims Stericycle (NASDAQ:SRCL) Target Price to $50.00

Stericycle (NASDAQ:SRCL) had its price objective decreased by Truist Financial from $57.00 to $50.00 in a research note published on Monday, Benzinga reports. Truist Financial currently has a hold rating on the business services provider’s stock.

Several other research analysts have also recently issued reports on SRCL. Robert W. Baird dropped their price objective on Stericycle from $62.00 to $55.00 and set a neutral rating on the stock in a research note on Friday. Stifel Nicolaus increased their price target on Stericycle from $70.00 to $75.00 and gave the stock a buy rating in a research report on Thursday, February 29th. StockNews.com downgraded Stericycle from a buy rating to a hold rating in a report on Tuesday, April 2nd. Wells Fargo & Company upped their price objective on shares of Stericycle from $40.00 to $48.00 and gave the stock an underweight rating in a research note on Friday, March 1st. Finally, Royal Bank of Canada reissued an outperform rating and set a $69.00 target price on shares of Stericycle in a research report on Thursday, March 7th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of Hold and an average target price of $59.40.

Stericycle Stock Down 1.9 %

NASDAQ:SRCL opened at $45.42 on Monday. Stericycle has a twelve month low of $37.78 and a twelve month high of $57.06. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.55. The stock has a fifty day simple moving average of $51.27 and a 200-day simple moving average of $48.26.

Stericycle (NASDAQ:SRCL) last released its quarterly earnings data on Thursday, April 25th. The business services provider reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.54 by $0.03. The company had revenue of $664.90 million during the quarter, compared to analysts’ expectations of $676.42 million. Stericycle had a negative net margin of 0.74% and a positive return on equity of 7.31%. The firm’s quarterly revenue was down 2.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.49 EPS. Research analysts expect that Stericycle will post 2.32 EPS for the current year.

Institutional Investors Weigh In On Stericycle

Hedge funds have recently made changes to their positions in the stock. Barclays PLC lifted its position in Stericycle by 30.6% during the third quarter. Barclays PLC now owns 70,408 shares of the business services provider’s stock valued at $3,147,000 after acquiring an additional 16,505 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Stericycle by 17.3% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 18,078 shares of the business services provider’s stock worth $808,000 after purchasing an additional 2,671 shares in the last quarter. Earnest Partners LLC grew its stake in Stericycle by 6.6% during the 3rd quarter. Earnest Partners LLC now owns 1,941,254 shares of the business services provider’s stock worth $86,793,000 after buying an additional 120,852 shares during the last quarter. Pathstone Family Office LLC acquired a new position in Stericycle during the 3rd quarter valued at about $230,000. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its position in Stericycle by 25.7% during the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 67,860 shares of the business services provider’s stock valued at $3,034,000 after buying an additional 13,860 shares in the last quarter. 98.82% of the stock is currently owned by hedge funds and other institutional investors.

About Stericycle

Stericycle, Inc, together with its subsidiaries, provides regulated waste and compliance services in the United States, Europe, and internationally. The company offers regulated waste and compliance services, including regulated medical waste, sharps waste management and disposal, pharmaceutical waste management and disposal, chemotherapy waste and disposal, controlled substance waste disposal, healthcare hazardous waste, and integrated waste stream solutions; specialty services, such as MedDrop medication collection kiosks, safe community solutions, SafeDrop sharps mailback solutions, and airport and maritime waste services; medical supply store services, that includes sharps and disposable biohazardous waste containers, infection control supplies, and seal&send medication mail back; and compliance solutions including Steri-Safe compliance solutions.