Morgan Dempsey Capital Management LLC Reduces Stake in Stericycle Inc. (SRCL)
Morgan Dempsey Capital Management LLC reduced its position in Stericycle Inc. (NASDAQ:SRCL) by 53.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 983 shares of the company’s stock after selling 1,142 shares during the period. Morgan Dempsey Capital Management LLC’s holdings in Stericycle were worth $102,000 at the end of the most recent reporting period.
Other large investors have also recently made changes to their positions in the company. Jana Partners LLC bought a new position in Stericycle during the first quarter valued at $305,997,000. First Republic Investment Management Inc. boosted its position in Stericycle by 23.9% in the first quarter. First Republic Investment Management Inc. now owns 296,838 shares of the company’s stock valued at $37,457,000 after buying an additional 57,220 shares during the period. Oakbrook Investments LLC bought a new position in Stericycle during the second quarter valued at $13,871,000. Douglas Lane & Associates LLC boosted its position in Stericycle by 6.6% in the second quarter. Douglas Lane & Associates LLC now owns 346,276 shares of the company’s stock valued at $36,054,000 after buying an additional 21,370 shares during the period. Finally, Geode Capital Management LLC boosted its position in Stericycle by 2.7% in the first quarter. Geode Capital Management LLC now owns 729,638 shares of the company’s stock valued at $91,897,000 after buying an additional 19,379 shares during the period. 92.80% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Stericycle Inc. (NASDAQ:SRCL) traded down 1.70% during mid-day trading on Friday, reaching $75.10. The company had a trading volume of 1,574,850 shares. The stock has a market capitalization of $6.39 billion, a price-to-earnings ratio of 26.43 and a beta of 0.20. Stericycle Inc. has a 1-year low of $74.95 and a 1-year high of $151.57. The firm has a 50-day moving average price of $81.84 and a 200-day moving average price of $99.57.
Stericycle (NASDAQ:SRCL) last announced its quarterly earnings data on Thursday, July 28th. The company reported $1.18 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.18. The company had revenue of $891.60 million for the quarter, compared to the consensus estimate of $910.29 million. Stericycle had a return on equity of 14.84% and a net margin of 7.22%. Stericycle’s quarterly revenue was up 24.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.14 EPS. Equities analysts expect that Stericycle Inc. will post $4.67 earnings per share for the current year.
A number of research analysts have commented on the stock. Jefferies Group reiterated a “buy” rating and set a $112.50 price target (down from $125.00) on shares of Stericycle in a research report on Wednesday, September 7th. Zacks Investment Research upgraded shares of Stericycle from a “hold” rating to a “buy” rating and set a $117.00 price target on the stock in a research report on Monday, July 11th. Wellington Shields cut shares of Stericycle from an “accumulate” rating to a “hold” rating in a research report on Friday, July 29th. Finally, Macquarie assumed coverage on shares of Stericycle in a research report on Thursday, August 25th. They set a “neutral” rating and a $96.00 price target on the stock. Four equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and four have assigned a buy rating to the company. Stericycle has a consensus rating of “Hold” and an average price target of $103.54.
In other Stericycle news, Director Rodney F. Dammeyer sold 10,188 shares of the company’s stock in a transaction on Wednesday, August 17th. The stock was sold at an average price of $85.50, for a total value of $871,074.00. Following the transaction, the director now owns 10,188 shares of the company’s stock, valued at approximately $871,074. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP John P. Schetz sold 1,398 shares of the company’s stock in a transaction on Wednesday, September 14th. The shares were sold at an average price of $81.85, for a total value of $114,426.30. Following the completion of the transaction, the executive vice president now directly owns 1,088 shares in the company, valued at approximately $89,052.80. The disclosure for this sale can be found here. 3.30% of the stock is owned by company insiders.
Stericycle, Inc is a business-to-business services provider with a focus on regulated and compliance solutions for healthcare, retail and commercial businesses. The Company’s solutions include the collection and processing of specialized waste for disposal, the collection of personal and confidential information for secure destruction, and a range of training, consulting, recall/return, communication and compliance services.
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