Zacks Investment Research Lowers Sotera Health (NYSE:SHC) to Hold

Zacks Investment Research downgraded shares of Sotera Health (NYSE:SHC) from a buy rating to a hold rating in a research note published on Wednesday morning, reports.

According to Zacks, “Sotera Health Company is a provider of mission-critical end-to-end sterilization solutions and lab testing as well as advisory services for the healthcare industry. The company market through businesses which include Sterigenics(R), Nordion(R) and Nelson Labs(R). Sotera Health Company is Sotera Health Company is based in CLEVELAND. “

Other analysts have also recently issued reports about the company. Barclays upped their target price on Sotera Health from $30.00 to $32.00 and gave the company an overweight rating in a report on Friday, August 13th. Credit Suisse Group restated a buy rating and issued a $31.00 target price on shares of Sotera Health in a report on Tuesday, May 25th. One research analyst has rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of Buy and a consensus price target of $32.05.

Shares of SHC opened at $26.17 on Wednesday. The company has a debt-to-equity ratio of 3.58, a quick ratio of 2.46 and a current ratio of 2.70. Sotera Health has a one year low of $21.21 and a one year high of $30.38. The stock has a market capitalization of $7.40 billion and a price-to-earnings ratio of 68.87. The stock has a 50 day moving average price of $24.18 and a 200 day moving average price of $24.57.

Sotera Health (NYSE:SHC) last issued its quarterly earnings results on Thursday, August 12th. The company reported $0.26 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.19 by $0.07. The firm had revenue of $251.92 million for the quarter, compared to analysts’ expectations of $226.27 million. On average, analysts predict that Sotera Health will post 0.85 earnings per share for the current year.

In related news, insider Michael P. Rutz sold 67,000 shares of the stock in a transaction dated Wednesday, August 25th. The stock was sold at an average price of $25.03, for a total transaction of $1,677,010.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 64.95% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of SHC. American International Group Inc. acquired a new position in Sotera Health during the 1st quarter worth about $34,000. SG Americas Securities LLC purchased a new stake in Sotera Health during the 2nd quarter worth about $113,000. Metropolitan Life Insurance Co NY increased its holdings in Sotera Health by 180,766.7% during the 2nd quarter. Metropolitan Life Insurance Co NY now owns 5,426 shares of the company’s stock worth $131,000 after purchasing an additional 5,423 shares during the period. First Mercantile Trust Co. purchased a new stake in Sotera Health during the 2nd quarter worth about $139,000. Finally, Acadian Asset Management LLC purchased a new stake in Sotera Health during the 1st quarter worth about $145,000. 86.69% of the stock is currently owned by hedge funds and other institutional investors.

Sotera Health Company Profile

Sotera Health Company provides sterilization, and lab testing and advisory services to the medical device, pharmaceutical, and food products industries in the Americas, Europe and Asia. The company's sterilization services include gamma and electron beam irradiation, and EO processing; Nelson Labs comprise microbiological and analytical chemistry testing; and advisory services for medical device and biopharmaceutical industries.

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