Insider Buying: Sharps Compliance Corp. (NASDAQ:SMED) Director Acquires 40,000 Shares of Stock

Sharps Compliance Corp. (NASDAQ:SMED) Director Parris H. Holmes, Jr. bought 40,000 shares of the firm’s stock in a transaction dated Thursday, June 13th. The shares were acquired at an average price of $3.31 per share, with a total value of $132,400.00. Following the completion of the transaction, the director now owns 942,027 shares of the company’s stock, valued at approximately $3,118,109.37. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Shares of Sharps Compliance stock remained flat at $$3.30 during trading on Friday. The stock had a trading volume of 30,311 shares, compared to its average volume of 12,638. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 2.49. Sharps Compliance Corp. has a 1 year low of $2.97 and a 1 year high of $4.22.

Sharps Compliance (NASDAQ:SMED) last announced its quarterly earnings results on Wednesday, April 24th. The industrial products company reported ($0.07) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.06). The firm had revenue of $9.45 million for the quarter, compared to analysts’ expectations of $10.09 million. Sharps Compliance had a negative net margin of 1.00% and a negative return on equity of 1.64%. During the same quarter in the prior year, the business posted ($0.05) EPS. Sell-side analysts predict that Sharps Compliance Corp. will post 0.01 earnings per share for the current year.

Several brokerages have recently commented on SMED. Zacks Investment Research lowered Sharps Compliance from a “buy” rating to a “hold” rating in a research note on Wednesday, April 24th. Barrington Research restated a “buy” rating and set a $4.50 price target on shares of Sharps Compliance in a research note on Tuesday, May 21st.

Several institutional investors have recently made changes to their positions in SMED. Wells Fargo & Company MN increased its stake in shares of Sharps Compliance by 10.8% during the first quarter. Wells Fargo & Company MN now owns 392,214 shares of the industrial products company’s stock valued at $1,436,000 after buying an additional 38,214 shares during the period. Quantum Capital Management increased its stake in shares of Sharps Compliance by 7.2% during the fourth quarter. Quantum Capital Management now owns 519,346 shares of the industrial products company’s stock valued at $1,792,000 after buying an additional 34,890 shares during the period. Finally, Renaissance Technologies LLC increased its stake in shares of Sharps Compliance by 2.1% during the first quarter. Renaissance Technologies LLC now owns 459,143 shares of the industrial products company’s stock valued at $1,680,000 after buying an additional 9,243 shares during the period. Hedge funds and other institutional investors own 19.88% of the company’s stock.

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Sharps Compliance Company Profile

Sharps Compliance Corp. provides medical, pharmaceutical, and hazardous waste management services in the United States. It offers Sharps Recovery System for the containment, transportation, treatment, and tracking of medical waste and used healthcare materials generated outside the hospital and health care facility settings; TakeAway Medication Recovery System, a solution that facilitates the proper disposal of unused medications; MedSafe, a solution for the safe collection, transportation, and proper disposal of unwanted and expired prescription medications; and ComplianceTRAC, a Web-based compliance and training program.

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