Sotera Health (NYSE:SHC) Rating Lowered to Hold at Zacks Investment Research


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Zacks Investment Research lowered shares of Sotera Health (NYSE:SHC) from a buy rating to a hold rating in a report released on Thursday, Zacks.com 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. “

Several other equities analysts have also weighed in on the stock. Barclays initiated coverage on shares of Sotera Health in a research report on Monday, March 8th. They issued an overweight rating and a $35.00 price objective on the stock. Robert W. Baird initiated coverage on shares of Sotera Health in a research note on Wednesday, January 13th. They issued an outperform rating and a $31.00 price target on the stock. Finally, KeyCorp upped their price target on shares of Sotera Health from $31.00 to $33.00 and gave the company an overweight rating in a research note on Tuesday, March 16th. One analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. Sotera Health currently has an average rating of Buy and a consensus price target of $32.41.

NYSE SHC opened at $25.81 on Thursday. The stock’s fifty day moving average price is $26.12. Sotera Health has a 1 year low of $23.84 and a 1 year high of $30.38.

Sotera Health (NYSE:SHC) last posted its quarterly earnings results on Monday, March 8th. The company reported $0.09 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.07 by $0.02. The firm had revenue of $216.90 million for the quarter, compared to the consensus estimate of $212.29 million. The firm’s quarterly revenue was up 12.1% compared to the same quarter last year. On average, equities analysts anticipate that Sotera Health will post 0.38 EPS for the current fiscal year.

In related news, CEO Michael B. Jr. Petras sold 817,439 shares of the firm’s stock in a transaction that occurred on Monday, March 22nd. The shares were sold at an average price of $26.12, for a total value of $21,351,506.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Pincus & Co. Warburg sold 13,512,582 shares of the firm’s stock in a transaction that occurred on Monday, March 22nd. The shares were sold at an average price of $26.12, for a total transaction of $352,948,641.84. The disclosure for this sale can be found here. In the last quarter, insiders sold 14,371,973 shares of company stock valued at $375,395,935.

A number of institutional investors have recently added to or reduced their stakes in SHC. Warburg Pincus LLC bought a new position in Sotera Health during the 4th quarter worth approximately $3,263,436,000. BlackRock Inc. bought a new position in Sotera Health during the 4th quarter worth approximately $201,045,000. Lazard Asset Management LLC bought a new position in Sotera Health during the 4th quarter worth approximately $100,205,000. Janus Henderson Group PLC bought a new position in Sotera Health during the 4th quarter worth approximately $96,159,000. Finally, Wells Fargo & Company MN bought a new position in Sotera Health during the 4th quarter worth approximately $38,879,000.

About Sotera Health

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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