Sotera Health (NASDAQ:SHC) Cut to “Buy” at Wall Street Zen

by · The Cerbat Gem

Wall Street Zen lowered shares of Sotera Health (NASDAQ:SHC – Free Report) from a strong-buy rating to a buy rating in a research report released on Saturday morning,Wall Street Zen reports.

Several other brokerages have also issued reports on SHC. Weiss Ratings lowered shares of Sotera Health from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, October 23rd. Piper Sandler reiterated an “overweight” rating and issued a $25.00 price objective on shares of Sotera Health in a research note on Tuesday, September 8th. JPMorgan Chase & Co. reduced their price objective on Sotera Health from $17.00 to $15.00 and set an “underweight” rating for the company in a report on Wednesday, November 4th. Barclays reduced their price objective on Sotera Health from $22.00 to $20.00 and set an “overweight” rating for the company in a report on Wednesday, November 4th. Finally, Citigroup raised their target price on Sotera Health from $23.00 to $25.00 and gave the stock a “buy” rating in a research report on Friday, August 7th. Eight analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $20.88.

View Our Latest Stock Report on Sotera Health

Sotera Health Trading Up 2.7%

NASDAQ SHC opened at $16.44 on Friday. The stock has a market capitalization of $4.70 billion, a price-to-earnings ratio of 18.62 and a beta of 1.94. Sotera Health has a one year low of $13.09 and a one year high of $19.85. The company has a debt-to-equity ratio of 3.04, a current ratio of 3.13 and a quick ratio of 2.55. The business’s fifty day moving average is $18.16 and its 200-day moving average is $16.96.

Sotera Health (NASDAQ:SHC – Get Free Report) last issued its quarterly earnings results on Tuesday, November 3rd. The company reported $0.29 earnings per share for the quarter, topping analysts’ consensus estimates of $0.27 by $0.02. Sotera Health had a net margin of 14.11% and a return on equity of 38.46%. The company had revenue of $324.89 million for the quarter, compared to the consensus estimate of $319.86 million. During the same period in the previous year, the firm earned $0.26 EPS. The firm’s quarterly revenue was up 4.4% on a year-over-year basis. Equities research analysts predict that Sotera Health will post 0.87 EPS for the current year.

Insiders Place Their Bets

In other news, Chairman Michael B. Jr. Petras sold 850,000 shares of Sotera Health stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $18.50, for a total value of $15,725,000.00. Following the completion of the transaction, the chairman owned 3,969,393 shares in the company, valued at $73,433,770.50. This trade represents a 17.64% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 15.36% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Sotera Health in the 3rd quarter worth approximately $29,000. Meeder Asset Management Inc. purchased a new position in shares of Sotera Health during the 2nd quarter valued at $37,000. Provenance Wealth Advisors LLC purchased a new position in shares of Sotera Health during the 3rd quarter valued at $42,000. Nykredit A S bought a new position in shares of Sotera Health in the second quarter worth $50,000. Finally, IFP Advisors Inc increased its holdings in shares of Sotera Health by 150.8% in the second quarter. IFP Advisors Inc now owns 3,509 shares of the company’s stock worth $62,000 after purchasing an additional 2,110 shares during the period. Hedge funds and other institutional investors own 91.03% of the company’s stock.

About Sotera Health

(Get Free Report)

Sotera Health Company is a global provider of sterilization, laboratory testing and advisory services for the medical device, pharmaceutical and food industries. Its services help customers assess product safety, meet regulatory requirements and prepare products for use.

Through Sterigenics, the company provides contract sterilization using technologies including ethylene oxide, gamma irradiation and electron beam processing. Nelson Labs offers microbiological and analytical testing, as well as consulting, for medical devices and pharmaceutical products.

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