Principal Financial Group Inc. Lowers Position in Stericycle, Inc. (NASDAQ:SRCL)

Principal Financial Group Inc. reduced its position in Stericycle, Inc. (NASDAQ:SRCL - Free Report) by 11.3% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 308,935 shares of the business services provider's stock after selling 39,389 shares during the quarter. Principal Financial Group Inc. owned about 0.33% of Stericycle worth $17,958,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of SRCL. Vanguard Group Inc. lifted its holdings in shares of Stericycle by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 8,969,118 shares of the business services provider's stock valued at $444,509,000 after buying an additional 52,576 shares during the period. Capital Research Global Investors increased its holdings in shares of Stericycle by 11.4% in the 1st quarter. Capital Research Global Investors now owns 6,667,911 shares of the business services provider's stock valued at $351,732,000 after purchasing an additional 679,974 shares in the last quarter. Earnest Partners LLC lifted its stake in shares of Stericycle by 12.4% in the first quarter. Earnest Partners LLC now owns 2,460,020 shares of the business services provider's stock valued at $129,766,000 after purchasing an additional 271,025 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Stericycle by 10.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,971,719 shares of the business services provider's stock worth $97,720,000 after buying an additional 192,045 shares in the last quarter. Finally, Schroder Investment Management Group grew its position in Stericycle by 8.1% during the fourth quarter. Schroder Investment Management Group now owns 1,739,644 shares of the business services provider's stock worth $86,217,000 after buying an additional 129,822 shares during the period. Hedge funds and other institutional investors own 98.82% of the company's stock.

Analyst Upgrades and Downgrades

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

Stericycle Price Performance

SRCL stock traded down $0.40 during trading on Thursday, hitting $58.90. The stock had a trading volume of 556,940 shares, compared to its average volume of 996,333. The stock has a market cap of $5.47 billion, a price-to-earnings ratio of -267.73, a price-to-earnings-growth ratio of 3.23 and a beta of 1.11. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.13 and a current ratio of 1.13. The company's 50 day moving average price is $58.58 and its two-hundred day moving average price is $54.05. Stericycle, Inc. has a 1-year low of $37.78 and a 1-year high of $59.45.

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 for the quarter, beating analysts' consensus estimates of $0.57 by $0.04. Stericycle had a net margin of 1.37% and a return on equity of 7.94%. The business had revenue of $661.60 million during the quarter, compared to analyst estimates of $672.07 million. On average, sell-side analysts forecast 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.