Palmer Knight Co Acquires New Position in Stericycle Inc (SRCL)

Palmer Knight Co acquired a new position in Stericycle Inc (NASDAQ:SRCL) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 4,728 shares of the business services provider’s stock, valued at approximately $257,000. Stericycle makes up about 0.2% of Palmer Knight Co’s investment portfolio, making the stock its 24th biggest holding.

A number of other large investors have also recently made changes to their positions in SRCL. JOYN Advisors Inc. boosted its position in Stericycle by 1,253.7% during the 4th quarter. JOYN Advisors Inc. now owns 731 shares of the business services provider’s stock valued at $27,000 after acquiring an additional 677 shares in the last quarter. Bronfman E.L. Rothschild L.P. boosted its position in Stericycle by 159.5% during the 4th quarter. Bronfman E.L. Rothschild L.P. now owns 807 shares of the business services provider’s stock valued at $30,000 after acquiring an additional 496 shares in the last quarter. Pearl River Capital LLC bought a new stake in Stericycle during the 4th quarter valued at $41,000. Oregon Public Employees Retirement Fund boosted its position in Stericycle by 6,998.9% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 1,638,209 shares of the business services provider’s stock valued at $45,000 after acquiring an additional 1,615,132 shares in the last quarter. Finally, North Star Investment Management Corp. boosted its position in Stericycle by 667.5% during the 1st quarter. North Star Investment Management Corp. now owns 1,535 shares of the business services provider’s stock valued at $84,000 after acquiring an additional 1,335 shares in the last quarter. 96.52% of the stock is currently owned by institutional investors.

Several analysts have issued reports on SRCL shares. ValuEngine raised Stericycle from a “strong sell” rating to a “sell” rating in a research report on Tuesday, March 5th. Zacks Investment Research cut Stericycle from a “hold” rating to a “sell” rating in a research report on Tuesday, February 26th. Robert W. Baird cut Stericycle from a “neutral” rating to an “underperform” rating and set a $44.00 target price on the stock. in a research report on Wednesday, April 17th. BidaskClub raised Stericycle from a “sell” rating to a “hold” rating in a research report on Wednesday, February 13th. Finally, Goldman Sachs Group upgraded Stericycle from a “neutral” rating to a “buy” rating and set a $66.00 price objective for the company in a report on Friday, March 1st. Three investment analysts have rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the stock. Stericycle presently has an average rating of “Hold” and a consensus price target of $59.00.

Shares of SRCL traded up $0.80 during midday trading on Friday, hitting $57.57. 20,040 shares of the company’s stock traded hands, compared to its average volume of 1,114,984. Stericycle Inc has a 1 year low of $34.36 and a 1 year high of $71.43. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 1.03. The firm has a market cap of $5.19 billion, a PE ratio of 12.78, a P/E/G ratio of 2.07 and a beta of 1.09.

Stericycle (NASDAQ:SRCL) last issued its quarterly earnings data on Thursday, February 28th. The business services provider reported $1.03 EPS for the quarter, beating the consensus estimate of $0.96 by $0.07. Stericycle had a positive return on equity of 14.19% and a negative net margin of 7.02%. The firm had revenue of $852.70 million during the quarter, compared to analyst estimates of $848.75 million. As a group, research analysts forecast that Stericycle Inc will post 3.53 EPS for the current year.

In other news, Director Mark C. Miller sold 260,314 shares of the stock in a transaction on Tuesday, April 9th. The stock was sold at an average price of $57.18, for a total transaction of $14,884,754.52. Following the completion of the sale, the director now owns 325,848 shares in the company, valued at approximately $18,631,988.64. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 3.50% of the company’s stock.

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Stericycle Company Profile

Stericycle, Inc, together with its subsidiaries, provides regulated and compliance solutions to the healthcare, retail, and commercial businesses in the United States and internationally. It operates through three segments: Domestic and Canada Regulated Waste and Compliance; International Regulated Waste and Compliance; and Domestic Communication and Related Services.

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Institutional Ownership by Quarter for Stericycle (NASDAQ:SRCL)

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