Glazer Capital LLC Acquires New Position in Stericycle, Inc. (NASDAQ:SRCL)

Glazer Capital LLC acquired a new stake in Stericycle, Inc. (NASDAQ:SRCL) in the 3rd quarter, Holdings Channel reports. The fund acquired 424,700 shares of the business services provider’s stock, valued at approximately $25,907,000. Stericycle accounts for about 1.5% of Glazer Capital LLC’s portfolio, making the stock its 15th largest holding.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Dimensional Fund Advisors LP increased its holdings in Stericycle by 7.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,171,659 shares of the business services provider’s stock worth $126,238,000 after buying an additional 142,814 shares during the period. Citigroup Inc. grew its stake in shares of Stericycle by 1,433.7% during the 3rd quarter. Citigroup Inc. now owns 2,046,496 shares of the business services provider’s stock worth $124,836,000 after purchasing an additional 1,913,065 shares during the period. Alpine Associates Management Inc. grew its stake in shares of Stericycle by 83.4% during the 3rd quarter. Alpine Associates Management Inc. now owns 1,965,997 shares of the business services provider’s stock worth $119,926,000 after purchasing an additional 894,297 shares during the period. Westchester Capital Management LLC grew its stake in shares of Stericycle by 17.4% during the 3rd quarter. Westchester Capital Management LLC now owns 1,564,603 shares of the business services provider’s stock worth $95,441,000 after purchasing an additional 232,314 shares during the period. Finally, Pentwater Capital Management LP acquired a new stake in shares of Stericycle during the 2nd quarter worth approximately $83,010,000. 98.82% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, StockNews.com began coverage on shares of Stericycle in a research note on Thursday. They issued a “hold” rating on the stock. One analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $74.00.

Stericycle Price Performance

Shares of SRCL opened at $61.98 on Friday. The firm has a market cap of $5.75 billion, a P/E ratio of 163.11, a price-to-earnings-growth ratio of 3.38 and a beta of 1.10. Stericycle, Inc. has a 12-month low of $37.78 and a 12-month high of $61.99. The company’s 50-day moving average price is $61.42 and its 200 day moving average price is $58.63. The company has a current ratio of 1.20, a quick ratio of 1.13 and a debt-to-equity ratio of 0.53.

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.