Sotera Health (NASDAQ:SHC) Updates FY24 Earnings Guidance

Sotera Health (NASDAQ:SHC) updated its FY24 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $0.67 to $0.75 for the period, compared to the consensus 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 Trading Up 0.6 %

NASDAQ:SHC opened at $11.27 on Thursday. The firm has a market capitalization of $3.19 billion, a P/E ratio of 62.61 and a beta of 2.08. The company has a quick ratio of 2.21, a current ratio of 2.42 and a debt-to-equity ratio of 5.16. The company has a fifty day moving average of $12.68 and a 200 day moving average of $14.05. Sotera Health has a 52 week low of $10.71 and a 52 week high of $19.40.

Sotera Health (NASDAQ:SHC) last posted its 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 firm had revenue of $310.24 million for the quarter, compared to analysts’ expectations of $302.17 million. Sotera Health had a return on equity of 51.32% and a net margin of 4.90%. The business’s revenue was up 23.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.23 earnings per share. On average, research analysts predict that Sotera Health will post 0.64 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. KeyCorp assumed coverage on Sotera Health in a research report on Tuesday, February 6th. They issued a sector weight rating for the company. TheStreet raised shares of Sotera Health from a d rating to a c- rating in a report on Tuesday, February 27th. Royal Bank of Canada restated an outperform rating and set a $20.00 price objective on shares of Sotera Health in a research report on Monday, March 4th. Jefferies Financial Group raised shares of Sotera Health from a hold rating to a buy rating and lifted their target price for the stock from $15.00 to $15.50 in a research report on Monday, March 25th. Finally, Barclays lowered their price target on Sotera Health from $19.00 to $14.00 and set an overweight rating on the stock in a report on Wednesday, April 10th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, Sotera Health has a consensus rating of Moderate Buy and a consensus price target of $17.70.

Insider Transactions at Sotera Health

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