Sotera Health (NASDAQ:SHC) Issues Quarterly Earnings Results, Misses Expectations By $0.01 EPS

Sotera Health (NASDAQ:SHC) posted its earnings results on Tuesday. The company reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.01), Briefing.com reports. Sotera Health had a net margin of 3.65% and a return on equity of 47.26%. The company had revenue of $285.47 million during the quarter, compared to analyst estimates of $278.64 million. During the same quarter last year, the business posted $0.18 EPS. The firm’s revenue for the quarter was up 8.5% on a year-over-year basis. Sotera Health updated its FY 2024 guidance to 0.670-0.750 EPS and its FY24 guidance to $0.67-0.75 EPS.

Sotera Health Stock Performance

NASDAQ SHC traded up $0.69 during trading on Wednesday, reaching $16.11. The company’s stock had a trading volume of 1,429,448 shares, compared to its average volume of 1,306,564. Sotera Health has a twelve month low of $10.71 and a twelve month high of $17.44. The company has a debt-to-equity ratio of 5.46, a quick ratio of 2.59 and a current ratio of 2.93. The business’s fifty day moving average price is $15.94 and its 200-day moving average price is $13.67. The firm has a market cap of $4.56 billion, a price-to-earnings ratio of 112.93 and a beta of 2.08.

Insider Transactions at Sotera Health

In related news, Director Gtcr Investment Xi Llc sold 10,000,000 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $15.03, for a total transaction of $150,300,000.00. Following the transaction, the director now owns 49,215,301 shares of the company’s stock, valued at approximately $739,705,974.03. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 55.12% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on SHC. Royal Bank of Canada reaffirmed an “outperform” rating and set a $17.00 price objective on shares of Sotera Health in a research report on Tuesday, August 6th. Citigroup lifted their price objective on shares of Sotera Health from $18.00 to $20.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, Barclays lifted their price objective on shares of Sotera Health from $14.00 to $17.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 6th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $16.50.

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.