Sotera Health (NASDAQ:SHC) Issues FY24 Earnings Guidance

Sotera Health (NASDAQ:SHC) issued an update on its FY24 earnings guidance on Thursday morning. The company provided earnings per share guidance of $0.67 to $0.75 for the period, compared to the consensus earnings per share estimate of $0.71. The company issued revenue guidance of +4 to +6% yr/yr or $1.091 billion to $1.112 billion, compared to the consensus revenue estimate of $1.10 billion.

Sotera Health Price Performance

NASDAQ:SHC traded up $0.11 during trading hours on Friday, hitting $11.02. The company’s stock had a trading volume of 1,039,496 shares, compared to its average volume of 1,036,531. Sotera Health has a twelve month low of $10.71 and a twelve month high of $19.40. The company has a debt-to-equity ratio of 5.18, a current ratio of 3.20 and a quick ratio of 2.21. The stock has a fifty day simple moving average of $12.45 and a 200-day simple moving average of $14.01. The company has a market capitalization of $3.12 billion, a P/E ratio of 58.00 and a beta of 2.08.

Sotera Health (NASDAQ:SHC) last announced its quarterly earnings results on Tuesday, February 27th. The company reported $0.26 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.26. The company had revenue of $310.24 million for the quarter, compared to analyst estimates of $302.17 million. Sotera Health had a net margin of 5.09% and a return on equity of 48.47%. The firm’s revenue was up 23.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.23 EPS. On average, analysts anticipate that Sotera Health will post 0.63 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. KeyCorp initiated coverage on shares of Sotera Health in a report on Tuesday, February 6th. They set a sector weight rating on the stock. Citigroup raised Sotera Health from a neutral rating to a buy rating and cut their target price for the stock from $18.00 to $16.00 in a report on Wednesday, April 3rd. TheStreet raised Sotera Health from a d rating to a c- rating in a research note on Tuesday, February 27th. Royal Bank of Canada reaffirmed an outperform rating and issued a $20.00 price objective on shares of Sotera Health in a research note on Monday, March 4th. Finally, Barclays decreased their target price on shares of Sotera Health from $19.00 to $14.00 and set an overweight rating for the company in a research report on Wednesday, April 10th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average target price of $17.70.

Insiders Place Their Bets

In related news, insider Michael P. Rutz sold 83,109 shares of the firm’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $14.31, for a total value of $1,189,289.79. Following the transaction, the insider now owns 544,409 shares of the company’s stock, valued at approximately $7,790,492.79. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, insider Michael P. Rutz sold 83,109 shares of the company’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $14.31, for a total transaction of $1,189,289.79. Following the completion of the sale, the insider now owns 544,409 shares in the company, valued at $7,790,492.79. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Pincus & Co. Warburg sold 16,594,363 shares of the firm’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $14.31, for a total value of $237,465,334.53. Following the transaction, the director now owns 88,822,952 shares in the company, valued at $1,271,056,443.12. The disclosure for this sale can be found here. Corporate insiders own 55.12% of the company’s stock.

Sotera Health Company Profile

Sotera Health Company engages in the provision of sterilization, lab testing, and advisory services in the United States and internationally. The company operates through three segments: Sterigenics, Nordion, and Nelson Labs. It provides mission-critical end-to-end sterilization services, including gamma and electron beam irradiation, and ethylene oxide processing, as well as designs, installs, and maintains gamma irradiation systems.