Sotera Health (NYSE:SHC) Upgraded to “Buy” at Zacks Investment Research

Zacks Investment Research upgraded shares of Sotera Health (NYSE:SHC) from a hold rating to a buy rating in a report published on Tuesday morning, Zacks.com reports. The firm currently has $28.00 target price on the stock.

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. “

SHC has been the topic of a number of other reports. Credit Suisse Group restated a buy rating and issued a $31.00 price target on shares of Sotera Health in a report on Tuesday, May 25th. Barclays upped their price objective on shares of Sotera Health from $30.00 to $32.00 and gave the stock an overweight rating in a research note on Friday, August 13th. Eleven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has an average rating of Buy and an average target price of $32.05.

NYSE SHC opened at $25.30 on Tuesday. The company’s 50-day moving average price is $23.98 and its 200-day moving average price is $24.55. The company has a current ratio of 2.70, a quick ratio of 2.46 and a debt-to-equity ratio of 3.58. The stock has a market cap of $7.16 billion and a PE ratio of 66.58. Sotera Health has a 12 month low of $21.21 and a 12 month high of $30.38.

Sotera Health (NYSE:SHC) last posted its quarterly earnings results on Thursday, August 12th. The company reported $0.26 EPS for the quarter, topping the Zacks’ consensus estimate of $0.19 by $0.07. The company had revenue of $251.92 million during the quarter, compared to the consensus estimate of $226.27 million. As a group, sell-side analysts forecast that Sotera Health will post 0.85 earnings per share for the current year.

In other Sotera Health news, insider Michael P. Rutz sold 67,000 shares of the stock in a transaction dated Wednesday, August 25th. The shares were 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 Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 64.95% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. raised its position in shares of Sotera Health by 4.2% in the 2nd quarter. BlackRock Inc. now owns 10,127,235 shares of the company’s stock valued at $245,384,000 after purchasing an additional 406,881 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Sotera Health by 33.1% in the 2nd quarter. Vanguard Group Inc. now owns 8,467,635 shares of the company’s stock valued at $205,171,000 after purchasing an additional 2,104,850 shares during the last quarter. Lazard Asset Management LLC raised its position in shares of Sotera Health by 4.7% in the 2nd quarter. Lazard Asset Management LLC now owns 6,045,979 shares of the company’s stock valued at $146,493,000 after purchasing an additional 273,239 shares during the last quarter. ArrowMark Colorado Holdings LLC raised its position in shares of Sotera Health by 12.9% in the 2nd quarter. ArrowMark Colorado Holdings LLC now owns 2,822,100 shares of the company’s stock valued at $68,379,000 after purchasing an additional 322,934 shares during the last quarter. Finally, Holocene Advisors LP raised its position in shares of Sotera Health by 58.7% in the 1st quarter. Holocene Advisors LP now owns 2,557,321 shares of the company’s stock valued at $63,831,000 after purchasing an additional 945,631 shares during the last quarter. 86.69% of the stock is owned by institutional investors and hedge funds.

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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