Alpine Associates Management Inc. Invests $62.30 Million in Stericycle, Inc. (NASDAQ:SRCL)

Alpine Associates Management Inc. acquired a new stake in shares of Stericycle, Inc. (NASDAQ:SRCL) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 1,071,700 shares of the business services provider’s stock, valued at approximately $62,298,000. Stericycle makes up approximately 3.0% of Alpine Associates Management Inc.’s portfolio, making the stock its 13th largest position. Alpine Associates Management Inc. owned 1.15% of Stericycle as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Clearstead Trust LLC purchased a new position in shares of Stericycle during the 1st quarter valued at $25,000. Principal Securities Inc. purchased a new position in Stericycle during the fourth quarter worth about $41,000. GAMMA Investing LLC grew its position in Stericycle by 170.9% during the first quarter. GAMMA Investing LLC now owns 818 shares of the business services provider’s stock worth $43,000 after buying an additional 516 shares in the last quarter. TFO Wealth Partners LLC increased its stake in Stericycle by 22,325.0% in the 4th quarter. TFO Wealth Partners LLC now owns 897 shares of the business services provider’s stock worth $44,000 after acquiring an additional 893 shares during the last quarter. Finally, Headlands Technologies LLC purchased a new stake in shares of Stericycle in the 1st quarter valued at about $44,000. Institutional investors own 98.82% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Keefe, Bruyette & Woods upped their price objective on shares of Stericycle from $135.00 to $142.00 and gave the stock an “outperform” rating in a research report on Tuesday, June 4th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $62.00 price objective (down from $69.00) on shares of Stericycle in a report on Tuesday, June 4th. Truist Financial increased their target price on Stericycle from $50.00 to $62.00 and gave the company a “hold” rating in a research note on Tuesday, June 4th. Finally, StockNews.com started coverage on Stericycle in a report on Monday, September 9th. They issued a “hold” rating for the company. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $74.00.

Stericycle Stock Up 0.0 %

SRCL opened at $61.71 on Monday. The company has a market cap of $5.73 billion, a P/E ratio of -280.50, a P/E/G ratio of 3.37 and a beta of 1.11. Stericycle, Inc. has a 12 month low of $37.78 and a 12 month high of $61.77. The business’s 50-day moving average price is $59.00 and its 200-day moving average price is $54.57. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.55.

Stericycle (NASDAQ:SRCL) last released its quarterly earnings data on Thursday, July 25th. The business services provider reported $0.61 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.04. The firm had revenue of $661.60 million during the quarter, compared to analyst estimates of $672.07 million. Stericycle had a return on equity of 7.94% and a net margin of 1.37%. On average, equities analysts expect that Stericycle, Inc. will post 2.29 EPS for the current year.

Stericycle Company Profile

Stericycle, Inc, together with its subsidiaries, provides regulated waste and compliance services in the United States, Europe, and internationally. The company offers regulated waste and compliance services, including regulated medical waste, sharps waste management and disposal, pharmaceutical waste management and disposal, chemotherapy waste and disposal, controlled substance waste disposal, healthcare hazardous waste, and integrated waste stream solutions; specialty services, such as MedDrop medication collection kiosks, safe community solutions, SafeDrop sharps mailback solutions, and airport and maritime waste services; medical supply store services, that includes sharps and disposable biohazardous waste containers, infection control supplies, and seal&send medication mail back; and compliance solutions including Steri-Safe compliance solutions.