Stericycle, Inc. (NASDAQ:SRCL) Short Interest Up 51.1% in August

Stericycle, Inc. (NASDAQ:SRCL - Get Free Report) saw a significant growth in short interest in the month of August. As of August 15th, there was short interest totalling 4,110,000 shares, a growth of 51.1% from the July 31st total of 2,720,000 shares. Based on an average daily trading volume, of 1,810,000 shares, the days-to-cover ratio is currently 2.3 days.

Stericycle Stock Performance

Stericycle stock traded up $0.10 during midday trading on Thursday, hitting $59.01. The stock had a trading volume of 2,084,068 shares, compared to its average volume of 1,001,727. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.55. Stericycle has a 52-week low of $37.78 and a 52-week high of $59.45. The firm's fifty day moving average is $58.40 and its two-hundred day moving average is $53.68. The company has a market capitalization of $5.48 billion, a PE ratio of -268.14, a P/E/G ratio of 3.21 and a beta of 1.11.

Stericycle (NASDAQ:SRCL - Get Free Report) last posted its quarterly earnings results on Thursday, July 25th. The business services provider reported $0.61 EPS for the quarter, beating analysts' consensus estimates of $0.57 by $0.04. The business had revenue of $661.60 million for the quarter, compared to analysts' expectations of $672.07 million. Stericycle had a return on equity of 7.94% and a net margin of 1.37%. On average, research analysts forecast that Stericycle will post 2.29 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Pentwater Capital Management LP purchased a new position in shares of Stericycle in the second quarter worth $83,010,000. Magnetar Financial LLC purchased a new stake in Stericycle in the 2nd quarter worth $81,596,000. Millennium Management LLC lifted its stake in Stericycle by 1,057.6% in the 2nd quarter. Millennium Management LLC now owns 1,315,274 shares of the business services provider's stock worth $76,457,000 after purchasing an additional 1,201,653 shares in the last quarter. Alpine Associates Management Inc. purchased a new position in shares of Stericycle during the second quarter valued at about $62,298,000. Finally, Capital Research Global Investors increased its holdings in shares of Stericycle by 13.4% in the fourth quarter. Capital Research Global Investors now owns 5,987,937 shares of the business services provider's stock worth $296,762,000 after purchasing an additional 705,586 shares during the last quarter. 98.82% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Truist Financial raised their price objective on shares of Stericycle from $50.00 to $62.00 and gave the stock a "hold" rating in a report on Tuesday, June 4th. Keefe, Bruyette & Woods increased their price objective on Stericycle from $135.00 to $142.00 and gave the stock an "outperform" rating in a report on Tuesday, June 4th. Royal Bank of Canada restated a "sector perform" rating and set a $62.00 target price (down previously from $69.00) on shares of Stericycle in a report on Tuesday, June 4th. Finally, StockNews.com initiated coverage on shares of Stericycle in a research note on Saturday, August 24th. They set a "hold" rating on the stock. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, Stericycle currently has a consensus rating of "Hold" and a consensus target price of $74.00.

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.