StockNews.com Begins Coverage on Stericycle (NASDAQ:SRCL)

StockNews.com initiated coverage on shares of Stericycle (NASDAQ:SRCL) in a research note released on Sunday. The brokerage issued a hold rating on the business services provider’s stock.

Stericycle Stock Performance

Stericycle stock opened at $61.47 on Friday. Stericycle has a fifty-two week low of $37.78 and a fifty-two week high of $61.77. The stock’s 50 day simple moving average is $60.70 and its two-hundred day simple moving average is $56.59. 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 stock has a market cap of $5.71 billion, a price-to-earnings ratio of 161.76, a PEG ratio of 3.32 and a beta of 1.11.

Institutional Investors Weigh In On Stericycle

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC boosted its stake in Stericycle by 23.9% during the first quarter. Allspring Global Investments Holdings LLC now owns 557,562 shares of the business services provider’s stock worth $29,411,000 after acquiring an additional 107,562 shares in the last quarter. State of Michigan Retirement System lifted its holdings in shares of Stericycle by 2.3% during the first quarter. State of Michigan Retirement System now owns 22,719 shares of the business services provider’s stock valued at $1,198,000 after purchasing an additional 500 shares during the last quarter. Van ECK Associates Corp boosted its position in shares of Stericycle by 26.4% in the 1st quarter. Van ECK Associates Corp now owns 106,154 shares of the business services provider’s stock worth $5,600,000 after purchasing an additional 22,166 shares in the last quarter. Retirement Systems of Alabama grew its stake in shares of Stericycle by 0.3% in the 1st quarter. Retirement Systems of Alabama now owns 116,185 shares of the business services provider’s stock worth $6,129,000 after buying an additional 305 shares during the last quarter. Finally, BNP Paribas Financial Markets increased its position in Stericycle by 21.5% during the 1st quarter. BNP Paribas Financial Markets now owns 7,957 shares of the business services provider’s stock valued at $420,000 after buying an additional 1,408 shares in the last quarter. 98.82% of the stock is owned by hedge funds and other institutional investors.

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.