Allspring Global Investments Holdings LLC Boosts Stock Holdings in Stericycle, Inc. (NASDAQ:SRCL)

Allspring Global Investments Holdings LLC increased its holdings in shares of Stericycle, Inc. (NASDAQ:SRCL - Free Report) by 28.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 450,000 shares of the business services provider's stock after buying an additional 99,617 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.49% of Stericycle worth $22,302,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in SRCL. JPMorgan Chase & Co. raised its stake in shares of Stericycle by 42.2% in the 1st quarter. JPMorgan Chase & Co. now owns 2,808,202 shares of the business services provider's stock valued at $122,466,000 after purchasing an additional 833,215 shares during the period. Lazard Asset Management LLC acquired a new stake in shares of Stericycle in the 4th quarter valued at about $29,286,000. Millennium Management LLC acquired a new stake in shares of Stericycle in the 4th quarter valued at about $24,363,000. Point72 Asset Management L.P. raised its stake in shares of Stericycle by 55,818.2% in the 2nd quarter. Point72 Asset Management L.P. now owns 445,668 shares of the business services provider's stock valued at $20,697,000 after purchasing an additional 444,871 shares during the period. Finally, Comerica Bank acquired a new stake in shares of Stericycle in the 2nd quarter valued at about $12,021,000. Institutional investors and hedge funds own 98.82% of the company's stock.

Stericycle Stock Performance

Shares of NASDAQ:SRCL traded down $0.72 during trading on Friday, reaching $49.26. 277,614 shares of the stock were exchanged, compared to its average volume of 420,655. Stericycle, Inc. has a 12 month low of $37.78 and a 12 month high of $57.06. The firm has a market cap of $4.57 billion, a PE ratio of -205.25, a PEG ratio of 2.67 and a beta of 1.09. The stock has a 50-day moving average price of $51.32 and a 200-day moving average price of $47.83. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.51.

Stericycle (NASDAQ:SRCL - Get Free Report) last issued its quarterly earnings data on Wednesday, February 28th. The business services provider reported $0.54 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.47 by $0.07. Stericycle had a positive return on equity of 7.06% and a negative net margin of 0.80%. The company had revenue of $652.00 million during the quarter, compared to analysts' expectations of $657.99 million. During the same quarter in the previous year, the company posted $0.60 earnings per share. The business's revenue was down 2.7% on a year-over-year basis. Research analysts expect that Stericycle, Inc. will post 2.31 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms recently issued reports on SRCL. Stifel Nicolaus lifted their target price on Stericycle from $70.00 to $75.00 and gave the company a "buy" rating in a research report on Thursday, February 29th. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $69.00 target price on shares of Stericycle in a research report on Thursday, March 7th. Wells Fargo & Company lifted their target price on Stericycle from $40.00 to $48.00 and gave the company an "underweight" rating in a research report on Friday, March 1st. Truist Financial lifted their target price on Stericycle from $50.00 to $57.00 and gave the company a "hold" rating in a research report on Thursday, February 29th. Finally, StockNews.com cut Stericycle from a "buy" rating to a "hold" rating in a report on Tuesday, April 2nd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $62.25.

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.