Sotera Health (NASDAQ:SHC) Posts Quarterly Earnings Results, Misses Estimates By $0.01 EPS

Sotera Health (NASDAQ:SHC) announced its quarterly earnings results on Tuesday. The company reported $0.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.01), Briefing.com reports. Sotera Health had a net margin of 3.65% and a return on equity of 47.26%. The company had revenue of $285.47 million during the quarter, compared to analysts’ expectations of $278.64 million. During the same quarter in the prior year, the business posted $0.18 earnings per share. The company’s revenue was up 8.5% compared to the same quarter last year. Sotera Health updated its FY 2024 guidance to 0.670-0.750 EPS and its FY24 guidance to $0.67-0.75 EPS.

Sotera Health Price Performance

Shares of SHC stock traded up $0.47 during midday trading on Wednesday, reaching $15.89. 929,339 shares of the company traded hands, compared to its average volume of 1,304,662. The firm has a market cap of $4.50 billion, a PE ratio of 112.93 and a beta of 2.08. The company has a debt-to-equity ratio of 5.46, a current ratio of 2.93 and a quick ratio of 2.59. Sotera Health has a 1-year low of $10.71 and a 1-year high of $17.44. The firm’s 50 day simple moving average is $15.94 and its two-hundred day simple moving average is $13.67.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. Barclays lifted their price target on shares of Sotera Health from $14.00 to $17.00 and gave the stock an “overweight” rating in a report on Tuesday, August 6th. Citigroup raised their target price on Sotera Health from $18.00 to $20.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $17.00 price objective on shares of Sotera Health in a report on Tuesday, August 6th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, Sotera Health has an average rating of “Moderate Buy” and an average price target of $16.50.

Insider Buying and Selling at Sotera Health

In related news, Director Gtcr Investment Xi Llc sold 10,000,000 shares of Sotera Health stock in a transaction on Friday, September 6th. The shares were sold at an average price of $15.03, for a total transaction of $150,300,000.00. Following the transaction, the director now owns 49,215,301 shares in the company, valued at approximately $739,705,974.03. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 55.12% of the company’s stock.

Sotera Health Company Profile

Sotera Health Company engages in the provision of sterilization, lab testing, and advisory services in the United States and internationally. The company operates through three segments: Sterigenics, Nordion, and Nelson Labs. It provides mission-critical end-to-end sterilization services, including gamma and electron beam irradiation, and ethylene oxide processing, as well as designs, installs, and maintains gamma irradiation systems.