Clearline Capital LP Lowers Holdings in Stericycle, Inc. (NASDAQ:SRCL)

Clearline Capital LP reduced its stake in Stericycle, Inc. (NASDAQ:SRCL) by 13.9% during the third quarter, HoldingsChannel reports. The fund owned 109,350 shares of the business services provider’s stock after selling 17,706 shares during the period. Clearline Capital LP’s holdings in Stericycle were worth $6,670,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Glazer Capital LLC purchased a new position in Stericycle in the third quarter worth about $25,907,000. Caisse DE Depot ET Placement DU Quebec bought a new position in Stericycle in the 3rd quarter valued at approximately $14,744,000. Westchester Capital Management LLC boosted its stake in Stericycle by 17.4% during the 3rd quarter. Westchester Capital Management LLC now owns 1,564,603 shares of the business services provider’s stock valued at $95,441,000 after purchasing an additional 232,314 shares during the last quarter. Twin Securities Inc. boosted its stake in Stericycle by 55.8% during the 3rd quarter. Twin Securities Inc. now owns 75,722 shares of the business services provider’s stock valued at $4,619,000 after purchasing an additional 27,122 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund raised its stake in shares of Stericycle by 55.3% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 196,500 shares of the business services provider’s stock worth $11,986,000 after purchasing an additional 70,000 shares during the last quarter. 98.82% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Separately, StockNews.com initiated coverage on Stericycle in a research report on Thursday. They set a “hold” rating on the stock. One analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, Stericycle has an average rating of “Hold” and a consensus target price of $74.00.

Stericycle Stock Performance

SRCL stock opened at $61.98 on Monday. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.20 and a quick ratio of 1.13. Stericycle, Inc. has a 1 year low of $37.78 and a 1 year high of $61.99. The company has a market cap of $5.75 billion, a P/E ratio of 163.11, a price-to-earnings-growth ratio of 3.38 and a beta of 1.10. The stock’s fifty day moving average price is $61.42 and its 200-day moving average price is $58.82.

Stericycle 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.