Sotera Health (NASDAQ:SHC) Releases FY24 Earnings Guidance

Sotera Health (NASDAQ:SHC) updated its FY24 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $0.67 to $0.75 for the period, compared to the consensus estimate of $0.71. The company issued revenue guidance of +4 to +6% yr/yr or $1.091 billion to $1.112 billion, compared to the consensus revenue estimate of $1.10 billion.

Wall Street Analysts Forecast Growth

SHC has been the topic of a number of recent analyst reports. Royal Bank of Canada reiterated an outperform rating and set a $20.00 target price on shares of Sotera Health in a research note on Monday, March 4th. Citigroup upgraded Sotera Health from a neutral rating to a buy rating and lowered their target price for the stock from $18.00 to $16.00 in a research note on Wednesday, April 3rd. TheStreet upgraded Sotera Health from a d rating to a c- rating in a research note on Tuesday, February 27th. KeyCorp initiated coverage on Sotera Health in a research note on Tuesday, February 6th. They set a sector weight rating on the stock. Finally, Barclays lowered their target price on Sotera Health from $19.00 to $14.00 and set an overweight rating on the stock in a research note on Wednesday, April 10th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of Moderate Buy and an average target price of $17.70.

Sotera Health Price Performance

Shares of NASDAQ SHC traded up $0.11 during trading hours on Friday, reaching $11.02. 1,039,496 shares of the stock traded hands, compared to its average volume of 1,036,531. The company has a market capitalization of $3.12 billion, a P/E ratio of 58.00 and a beta of 2.08. The company’s 50-day simple moving average is $12.45 and its two-hundred day simple moving average is $14.01. The company has a quick ratio of 2.21, a current ratio of 3.20 and a debt-to-equity ratio of 5.18. Sotera Health has a 52-week low of $10.71 and a 52-week high of $19.40.

Sotera Health (NASDAQ:SHC) last posted its quarterly earnings results on Tuesday, February 27th. The company reported $0.26 earnings per share for the quarter, hitting the consensus estimate of $0.26. Sotera Health had a net margin of 5.09% and a return on equity of 48.47%. The business had revenue of $310.24 million during the quarter, compared to the consensus estimate of $302.17 million. During the same period in the previous year, the firm posted $0.23 earnings per share. The firm’s revenue for the quarter was up 23.3% on a year-over-year basis. Equities research analysts forecast that Sotera Health will post 0.63 EPS for the current year.

Insider Buying and Selling at Sotera Health

In other news, Director Pincus & Co. Warburg sold 16,594,363 shares of the stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $14.31, for a total transaction of $237,465,334.53. Following the completion of the sale, the director now directly owns 88,822,952 shares in the company, valued at $1,271,056,443.12. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, Director Pincus & Co. Warburg sold 16,594,363 shares of the stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $14.31, for a total transaction of $237,465,334.53. Following the completion of the sale, the director now directly owns 88,822,952 shares in the company, valued at $1,271,056,443.12. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Michael P. Rutz sold 83,109 shares of the stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $14.31, for a total transaction of $1,189,289.79. Following the sale, the insider now owns 544,409 shares of the company’s stock, valued at $7,790,492.79. The disclosure for this sale can be found here. Company insiders own 55.12% of the company’s stock.

About Sotera Health

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.