M&T Bank Corp Increases Stock Position in Stericycle Inc (NASDAQ:SRCL)

M&T Bank Corp boosted its position in shares of Stericycle Inc (NASDAQ:SRCL) by 23.1% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 143,553 shares of the business services provider’s stock after acquiring an additional 26,972 shares during the period. M&T Bank Corp’s holdings in Stericycle were worth $8,035,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of Stericycle in the fourth quarter worth about $85,515,000. Teacher Retirement System of Texas raised its holdings in Stericycle by 54.6% in the 1st quarter. Teacher Retirement System of Texas now owns 1,362,385 shares of the business services provider’s stock worth $66,185,000 after purchasing an additional 481,300 shares during the period. UBS Group AG boosted its position in Stericycle by 170.3% during the fourth quarter. UBS Group AG now owns 68,527 shares of the business services provider’s stock worth $4,373,000 after purchasing an additional 165,985 shares in the last quarter. Alliancebernstein L.P. grew its holdings in Stericycle by 2.0% in the first quarter. Alliancebernstein L.P. now owns 8,083,963 shares of the business services provider’s stock valued at $392,719,000 after purchasing an additional 159,669 shares during the period. Finally, Diamond Hill Capital Management Inc. grew its holdings in Stericycle by 8.1% in the first quarter. Diamond Hill Capital Management Inc. now owns 1,138,153 shares of the business services provider’s stock valued at $55,291,000 after purchasing an additional 85,664 shares during the period.

A number of research analysts have recently issued reports on SRCL shares. Stifel Nicolaus decreased their target price on Stericycle from $73.00 to $70.00 and set a “buy” rating on the stock in a research report on Wednesday, April 8th. BidaskClub raised shares of Stericycle from a “hold” rating to a “buy” rating in a report on Wednesday, July 22nd. Barrington Research cut shares of Stericycle to a “hold” rating in a research note on Tuesday, July 28th. Royal Bank of Canada reaffirmed a “buy” rating on shares of Stericycle in a research note on Thursday, June 18th. Finally, Zacks Investment Research upgraded Stericycle from a “sell” rating to a “hold” rating and set a $50.00 price objective for the company in a research note on Wednesday, July 8th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $63.29.

Shares of NASDAQ SRCL opened at $60.44 on Friday. Stericycle Inc has a 12-month low of $38.45 and a 12-month high of $67.94. The stock has a market cap of $5.52 billion, a PE ratio of -16.74, a P/E/G ratio of 5.06 and a beta of 1.14. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 1.24. The company has a 50-day moving average of $57.08 and a 200 day moving average of $55.55.

Stericycle (NASDAQ:SRCL) last issued its earnings results on Thursday, May 7th. The business services provider reported $0.52 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.65 by ($0.13). Stericycle had a positive return on equity of 9.80% and a negative net margin of 10.08%. The company had revenue of $785.00 million for the quarter, compared to analyst estimates of $793.27 million. During the same quarter in the prior year, the firm earned $0.57 earnings per share. The company’s revenue for the quarter was down 5.4% on a year-over-year basis. On average, sell-side analysts forecast that Stericycle Inc will post 1.88 EPS for the current fiscal year.

In other news, EVP David W. Stahl sold 1,000 shares of the business’s stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $63.53, for a total transaction of $63,530.00. 2.30% of the stock is owned by insiders.

Stericycle Company Profile

Stericycle, Inc, together with its subsidiaries, provides regulated and compliance solutions to the healthcare, retail, and commercial businesses in the United States and internationally. It operates through three segments: Domestic and Canada Regulated Waste and Compliance; International Regulated Waste and Compliance; and Domestic Communication and Related Services.

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Institutional Ownership by Quarter for Stericycle (NASDAQ:SRCL)

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