Zacks Investment Research Lowers Sotera Health (NYSE:SHC) to Hold

Zacks Investment Research downgraded shares of Sotera Health (NYSE:SHCGet Rating) from a buy rating to a hold rating in a research report report published on Thursday, Zacks.com reports.

According to Zacks, “Sotera Health Company is a provider of mission-critical end-to-end sterilization solutions and lab testing as well as advisory services for the healthcare industry. The company market through businesses which include Sterigenics(R), Nordion(R) and Nelson Labs(R). Sotera Health Company is Sotera Health Company is based in CLEVELAND. “

A number of other research analysts have also recently weighed in on the stock. Credit Suisse Group lowered their target price on shares of Sotera Health from $31.00 to $28.00 and set an outperform rating on the stock in a research note on Wednesday, March 2nd. Barclays cut shares of Sotera Health from an overweight rating to an equal weight rating and set a $24.00 target price on the stock. in a research note on Wednesday, March 2nd. The Goldman Sachs Group lowered their target price on shares of Sotera Health from $31.00 to $27.00 and set a buy rating on the stock in a research note on Monday, March 21st. Wolfe Research initiated coverage on shares of Sotera Health in a research note on Tuesday, April 5th. They set an outperform rating and a $26.00 target price on the stock. Finally, Jefferies Financial Group cut shares of Sotera Health from a buy rating to a hold rating and lowered their target price for the company from $34.00 to $22.00 in a research note on Thursday, March 3rd. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, Sotera Health presently has a consensus rating of Buy and a consensus target price of $25.57.

Shares of Sotera Health stock opened at $20.17 on Thursday. The company’s fifty day simple moving average is $20.99 and its 200-day simple moving average is $21.58. The stock has a market capitalization of $5.70 billion, a PE ratio of 41.16 and a beta of 0.37. Sotera Health has a 1-year low of $18.31 and a 1-year high of $27.38. The company has a debt-to-equity ratio of 2.78, a current ratio of 2.58 and a quick ratio of 2.27.

Sotera Health (NYSE:SHCGet Rating) last issued its quarterly earnings results on Thursday, May 5th. The company reported $0.20 earnings per share for the quarter, topping the consensus estimate of $0.18 by $0.02. The business had revenue of $237.00 million for the quarter, compared to analysts’ expectations of $229.40 million. Sotera Health had a net margin of 14.30% and a return on equity of 42.65%. The company’s revenue was up 11.8% compared to the same quarter last year. During the same quarter last year, the company posted $0.13 EPS. As a group, research analysts anticipate that Sotera Health will post 0.93 EPS for the current year.

Hedge funds have recently made changes to their positions in the business. Morgan Stanley increased its holdings in shares of Sotera Health by 852.3% in the 2nd quarter. Morgan Stanley now owns 481,151 shares of the company’s stock worth $11,659,000 after buying an additional 430,628 shares during the last quarter. PNC Financial Services Group Inc. bought a new stake in shares of Sotera Health in the 3rd quarter worth about $26,000. Truist Financial Corp increased its holdings in shares of Sotera Health by 12.1% in the 3rd quarter. Truist Financial Corp now owns 23,176 shares of the company’s stock worth $606,000 after buying an additional 2,505 shares during the last quarter. Principal Financial Group Inc. increased its holdings in shares of Sotera Health by 19.7% in the 3rd quarter. Principal Financial Group Inc. now owns 10,209 shares of the company’s stock worth $267,000 after buying an additional 1,677 shares during the last quarter. Finally, BlackRock Inc. increased its holdings in shares of Sotera Health by 6.6% in the 3rd quarter. BlackRock Inc. now owns 10,791,483 shares of the company’s stock worth $282,196,000 after buying an additional 664,248 shares during the last quarter. Institutional investors and hedge funds own 87.44% of the company’s stock.

About Sotera Health (Get Rating)

Sotera Health Company provides sterilization, and lab testing and advisory services in the United States, Canada, Europe, and internationally. The company's sterilization services include gamma and electron beam irradiation, and EO processing; Nelson Labs comprise microbiological and analytical chemistry testing; and advisory services for medical device and biopharmaceutical industries.

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