Pentwater Capital Management LP Invests $83.01 Million in Stericycle, Inc. (NASDAQ:SRCL)

Pentwater Capital Management LP purchased a new position in shares of Stericycle, Inc. (NASDAQ:SRCL - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 1,428,000 shares of the business services provider's stock, valued at approximately $83,010,000. Stericycle makes up 1.1% of Pentwater Capital Management LP's portfolio, making the stock its 11th biggest position. Pentwater Capital Management LP owned approximately 1.54% of Stericycle at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. Retirement Systems of Alabama grew its stake in shares of Stericycle by 0.3% during the 1st quarter. Retirement Systems of Alabama now owns 116,185 shares of the business services provider's stock worth $6,129,000 after acquiring an additional 305 shares in the last quarter. Treasurer of the State of North Carolina grew its stake in shares of Stericycle by 1.0% in the fourth quarter. Treasurer of the State of North Carolina now owns 40,838 shares of the business services provider's stock valued at $2,024,000 after buying an additional 400 shares in the last quarter. Mirova grew its stake in shares of Stericycle by 0.9% in the first quarter. Mirova now owns 47,345 shares of the business services provider's stock valued at $2,497,000 after buying an additional 428 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in shares of Stericycle by 6.4% in the second 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 in the last quarter. Finally, Private Advisor Group LLC grew its stake in shares of Stericycle by 8.6% in the fourth quarter. Private Advisor Group LLC now owns 5,788 shares of the business services provider's stock valued at $287,000 after buying an additional 459 shares in the last quarter. 98.82% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Stericycle Trading Up 0.4 %

Shares of Stericycle stock traded up $0.25 on Friday, reaching $59.26. 1,059,211 shares of the company's stock were exchanged, compared to its average volume of 1,002,069. The company has a market capitalization of $5.50 billion, a P/E ratio of -269.36, a price-to-earnings-growth ratio of 3.20 and a beta of 1.11. Stericycle, Inc. has a 52 week low of $37.78 and a 52 week high of $59.45. The firm's 50-day moving average is $58.46 and its two-hundred day moving average is $53.78. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.13 and a current ratio of 1.13.

Stericycle (NASDAQ:SRCL - Get Free Report) last posted its quarterly earnings results 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. Stericycle had a return on equity of 7.94% and a net margin of 1.37%. The firm had revenue of $661.60 million for the quarter, compared to analysts' expectations of $672.07 million. Sell-side analysts predict that Stericycle, Inc. will post 2.29 EPS for the current fiscal year.

Stericycle 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.

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