Bank of America Corp DE Invests $22.86 Million in Sotera Health Company $SHC

Key Points

• Bank of America acquired 1.29 million Sotera Health shares worth approximately $22.86 million, giving it a 0.45% stake. Hedge funds and institutional investors collectively own 91.03% of the company.
• Analysts maintain a generally positive outlook, with eight Buy ratings and three Holds. Sotera Health has a “Moderate Buy” consensus rating and an average price target of $21.50, above its reported trading price of $18.29.
• Sotera Health exceeded quarterly expectations with adjusted earnings of $0.26 per share versus a $0.24 estimate and revenue of $321.38 million, up 9.2% year over year. However, insiders sold roughly $24 million of stock over the past 90 days.

Bank of America Corp DE bought a new stake in shares of Sotera Health Company (NASDAQ:SHC - Free Report) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 1,287,668 shares of the company's stock, valued at approximately $22,856,000. Bank of America Corp DE owned 0.45% of Sotera Health at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in SHC. BlackRock Inc. purchased a new position in Sotera Health during the second quarter valued at approximately $428,635,000. Sculptor Capital LP purchased a new position in Sotera Health during the second quarter valued at $426,000,000. Jupiter Topco LLC acquired a new stake in Sotera Health in the 2nd quarter worth about $149,137,000. Two Seas Capital LP purchased a new stake in shares of Sotera Health during the second quarter worth approximately $103,590,000. Finally, Lakewood Capital Management LP purchased a new stake in shares of Sotera Health during the second quarter worth $70,638,000. 91.03% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

SHC has been the subject of several recent research reports. Weiss Ratings raised Sotera Health from a "hold (c)" rating to a "hold (c+)" rating in a report on Tuesday, August 11th. Wall Street Zen raised shares of Sotera Health from a "buy" rating to a "strong-buy" rating in a research note on Saturday, August 29th. JPMorgan Chase & Co. increased their target price on Sotera Health from $16.00 to $18.00 and gave the stock a "neutral" rating in a research note on Friday, August 7th. The Goldman Sachs Group assumed coverage on Sotera Health in a report on Friday, June 5th. They set a "buy" rating and a $20.00 target price for the company. Finally, Piper Sandler reaffirmed an "overweight" rating and issued a $25.00 target price on shares of Sotera Health in a research report on Tuesday, September 8th. Eight investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, Sotera Health has an average rating of "Moderate Buy" and a consensus price target of $21.50.

Insider Activity

In related news, Chairman Michael Petras, Jr. sold 850,000 shares of the stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $18.50, for a total transaction of $15,725,000.00. Following the completion of the transaction, the chairman directly owned 3,969,393 shares of the company's stock, valued at $73,433,770.50. This represents a 17.64% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Michael Rutz sold 150,000 shares of the firm's stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $18.84, for a total transaction of $2,826,000.00. Following the completion of the sale, the insider owned 334,279 shares of the company's stock, valued at approximately $6,297,816.36. The trade was a 30.97% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 1,294,515 shares of company stock worth $23,999,528. Insiders own 15.36% of the company's stock.

Sotera Health Trading Down 2.1%

NASDAQ SHC opened at $18.29 on Thursday. Sotera Health Company has a one year low of $13.09 and a one year high of $19.85. The firm's fifty day moving average is $18.54 and its two-hundred day moving average is $16.66. The company has a debt-to-equity ratio of 3.33, a quick ratio of 2.55 and a current ratio of 2.80. The firm has a market cap of $5.22 billion, a PE ratio of 32.09 and a beta of 1.77.

Sotera Health (NASDAQ:SHC - Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The company reported $0.26 EPS for the quarter, topping the consensus estimate of $0.24 by $0.02. The business had revenue of $321.38 million during the quarter, compared to analysts' expectations of $309.70 million. Sotera Health had a return on equity of 40.12% and a net margin of 13.44%.The company's quarterly revenue was up 9.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.20 earnings per share. Sotera Health has set its FY 2026 guidance at 0.950-1.010 EPS. Analysts expect that Sotera Health Company will post 0.86 earnings per share for the current year.

About Sotera Health

Sotera Health Company NASDAQ: SHC is a global provider of sterilization, laboratory testing and other healthcare services designed to support infection prevention and product safety. The company serves medical device, pharmaceutical and healthcare customers, helping them meet regulatory and quality requirements throughout the product life cycle.

Sotera Health operates through three primary businesses. Sterigenics provides contract sterilization and microbial reduction services for medical devices, pharmaceutical products, food and other products.

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