Welch & Forbes LLC Sells 3,891 Shares of Stericycle Inc (NASDAQ:SRCL)

Welch & Forbes LLC trimmed its holdings in Stericycle Inc (NASDAQ:SRCL) by 8.9% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 39,912 shares of the business services provider’s stock after selling 3,891 shares during the quarter. Welch & Forbes LLC’s holdings in Stericycle were worth $1,906,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the stock. Dimensional Fund Advisors LP raised its holdings in Stericycle by 11.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 884,137 shares of the business services provider’s stock worth $32,439,000 after purchasing an additional 92,481 shares during the last quarter. Principal Financial Group Inc. raised its holdings in Stericycle by 181.4% during the 4th quarter. Principal Financial Group Inc. now owns 366,375 shares of the business services provider’s stock worth $13,442,000 after purchasing an additional 236,182 shares during the last quarter. Thrivent Financial for Lutherans raised its holdings in Stericycle by 488.8% during the 4th quarter. Thrivent Financial for Lutherans now owns 21,631 shares of the business services provider’s stock worth $794,000 after purchasing an additional 17,957 shares during the last quarter. Nordea Investment Management AB raised its holdings in Stericycle by 17.0% during the 4th quarter. Nordea Investment Management AB now owns 119,800 shares of the business services provider’s stock worth $4,396,000 after purchasing an additional 17,442 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of Stericycle in the 4th quarter valued at about $41,704,000. 96.52% of the stock is owned by institutional investors and hedge funds.

Shares of SRCL traded up $1.17 on Thursday, hitting $47.13. The company’s stock had a trading volume of 127,362 shares, compared to its average volume of 639,338. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 1.17. The business has a fifty day moving average of $46.42. Stericycle Inc has a fifty-two week low of $34.36 and a fifty-two week high of $71.43. The stock has a market capitalization of $4.16 billion, a price-to-earnings ratio of 10.44, a price-to-earnings-growth ratio of 1.88 and a beta of 1.21.

Stericycle (NASDAQ:SRCL) last issued its quarterly earnings data on Thursday, August 1st. The business services provider reported $0.56 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.83 by ($0.27). Stericycle had a negative net margin of 8.92% and a positive return on equity of 12.56%. The business had revenue of $845.80 million during the quarter, compared to analyst estimates of $843.95 million. During the same quarter in the prior year, the firm posted $1.17 earnings per share. Stericycle’s revenue for the quarter was down 4.2% compared to the same quarter last year. Sell-side analysts expect that Stericycle Inc will post 3.29 EPS for the current year.

A number of analysts have recently commented on the company. Robert W. Baird cut Stericycle from a “neutral” rating to an “underperform” rating and set a $44.00 price target for the company. in a research note on Wednesday, April 17th. ValuEngine cut Stericycle from a “sell” rating to a “strong sell” rating in a research note on Tuesday, July 2nd. BidaskClub cut Stericycle from a “hold” rating to a “sell” rating in a research note on Tuesday, June 11th. Bank of America reaffirmed an “underperform” rating and issued a $44.00 price target (down from $46.00) on shares of Stericycle in a research note on Wednesday, July 17th. Finally, Zacks Investment Research cut Stericycle from a “hold” rating to a “strong sell” rating in a research note on Tuesday, May 7th. Five research analysts have rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $55.67.

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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