Stericycle Inc (NASDAQ:SRCL) was the recipient of a large decline in short interest during the month of September. As of September 28th, there was short interest totalling 4,392,617 shares, a decline of 27.7% from the September 14th total of 6,078,026 shares. Based on an average daily volume of 864,898 shares, the days-to-cover ratio is currently 5.1 days. Currently, 5.2% of the company’s stock are short sold.

In other Stericycle news, CFO Daniel Ginnetti sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 1st. The stock was sold at an average price of $70.00, for a total transaction of $350,000.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders have sold a total of 10,060 shares of company stock worth $707,912 in the last ninety days. Insiders own 3.50% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Bank of Montreal Can boosted its stake in Stericycle by 2.3% in the 3rd quarter. Bank of Montreal Can now owns 179,915 shares of the business services provider’s stock valued at $10,557,000 after purchasing an additional 3,996 shares during the period. Busey Trust CO boosted its stake in Stericycle by 2.5% in the 3rd quarter. Busey Trust CO now owns 59,879 shares of the business services provider’s stock valued at $3,514,000 after purchasing an additional 1,436 shares during the period. Contravisory Investment Management Inc. bought a new stake in Stericycle in the 3rd quarter valued at $295,000. Montecito Bank & Trust boosted its stake in Stericycle by 42.0% in the 3rd quarter. Montecito Bank & Trust now owns 7,424 shares of the business services provider’s stock valued at $436,000 after purchasing an additional 2,195 shares during the period. Finally, DNB Asset Management AS boosted its stake in Stericycle by 22.7% in the 3rd quarter. DNB Asset Management AS now owns 12,995 shares of the business services provider’s stock valued at $763,000 after purchasing an additional 2,400 shares during the period. Institutional investors and hedge funds own 95.47% of the company’s stock.

A number of research analysts recently weighed in on the company. Jefferies Financial Group set a $75.00 target price on Stericycle and gave the stock a “buy” rating in a report on Thursday, August 2nd. BidaskClub raised Stericycle from a “buy” rating to a “strong-buy” rating in a report on Tuesday, July 31st. Zacks Investment Research lowered Stericycle from a “buy” rating to a “hold” rating in a report on Monday, July 16th. BMO Capital Markets reissued a “hold” rating and set a $71.00 target price on shares of Stericycle in a report on Thursday, July 12th. Finally, Robert W. Baird reissued a “hold” rating and set a $70.00 target price on shares of Stericycle in a report on Friday, August 3rd. Four investment analysts have rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $71.29.

SRCL stock opened at $52.55 on Friday. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.87. The company has a market cap of $5.04 billion, a P/E ratio of 12.21, a price-to-earnings-growth ratio of 1.38 and a beta of 0.35. Stericycle has a 1-year low of $51.45 and a 1-year high of $76.73.

Stericycle (NASDAQ:SRCL) last released its quarterly earnings results on Thursday, August 2nd. The business services provider reported $1.17 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.13 by $0.04. The business had revenue of $883.30 million during the quarter, compared to the consensus estimate of $896.62 million. Stericycle had a return on equity of 14.04% and a net margin of 5.03%. The firm’s quarterly revenue was down 3.7% on a year-over-year basis. During the same period in the previous year, the company posted $1.15 EPS. Equities analysts forecast that Stericycle will post 4.43 EPS for the current year.

About Stericycle

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 collects and processes regulated and specialized waste for disposal services; and collects personal and confidential information for secure destruction, as well as offers training, consulting, recall/return, communication, and compliance services.

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