Fifth Third Bancorp Cuts Stake in Stericycle, Inc. (NASDAQ:SRCL)

Fifth Third Bancorp reduced its position in shares of Stericycle, Inc. (NASDAQ:SRCL - Free Report) by 69.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 16,032 shares of the business services provider's stock after selling 35,856 shares during the period. Fifth Third Bancorp's holdings in Stericycle were worth $932,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in SRCL. Blue Trust Inc. grew its stake in shares of Stericycle by 19.4% in the second quarter. Blue Trust Inc. now owns 4,936 shares of the business services provider's stock worth $287,000 after purchasing an additional 801 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its position in shares of Stericycle by 6.4% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 7,447 shares of the business services provider's stock valued at $433,000 after buying an additional 449 shares during the last quarter. SG Americas Securities LLC acquired a new stake in shares of Stericycle in the second quarter valued at about $787,000. Boston Partners raised its position in shares of Stericycle by 57.7% during the first quarter. Boston Partners now owns 15,520 shares of the business services provider's stock worth $819,000 after acquiring an additional 5,681 shares during the last quarter. Finally, Virtu Financial LLC acquired a new position in shares of Stericycle in the first quarter worth approximately $209,000. Institutional investors and hedge funds own 98.82% of the company's stock.

Stericycle Price Performance

Shares of NASDAQ SRCL traded up $0.12 during mid-day trading on Friday, reaching $58.86. 764,482 shares of the company were exchanged, compared to its average volume of 997,548. The stock has a market capitalization of $5.46 billion, a PE ratio of -267.77, a PEG ratio of 3.21 and a beta of 1.11. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.55. Stericycle, Inc. has a 52 week low of $37.78 and a 52 week high of $59.45. The company's 50 day moving average price is $58.38 and its 200 day moving average price is $53.34.

Stericycle (NASDAQ:SRCL - Get Free Report) last posted its quarterly earnings data on Thursday, July 25th. The business services provider reported $0.61 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.57 by $0.04. The firm had revenue of $661.60 million during 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%. Sell-side analysts forecast that Stericycle, Inc. will post 2.29 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Truist Financial increased their target price on shares of Stericycle from $50.00 to $62.00 and gave the company a "hold" rating in a research report on Tuesday, June 4th. Keefe, Bruyette & Woods increased their price target on Stericycle from $135.00 to $142.00 and gave the stock an "outperform" rating in a research note on Tuesday, June 4th. StockNews.com assumed coverage on Stericycle in a research note on Friday, August 16th. They issued a "hold" rating on the stock. Royal Bank of Canada reiterated a "sector perform" rating and set a $62.00 target price (down previously from $69.00) on shares of Stericycle in a research report on Tuesday, June 4th. Finally, Robert W. Baird dropped their price objective on Stericycle from $62.00 to $55.00 and set a "neutral" rating for the company in a research note on Friday, April 26th. One analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target 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.