Sotera Health (NASDAQ:SHC) Announces Quarterly Earnings Results

Sotera Health (NASDAQ:SHC) posted its earnings results on Tuesday. The company reported $0.17 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.01), Briefing.com reports. Sotera Health had a return on equity of 47.26% and a net margin of 3.65%. The business had revenue of $285.47 million for the quarter, compared to analyst estimates of $278.64 million. During the same period in the previous year, the company earned $0.18 earnings per share. The company’s quarterly 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 Stock Performance

Shares of NASDAQ SHC traded down $0.28 during midday trading on Thursday, hitting $15.83. The company’s stock had a trading volume of 1,349,204 shares, compared to its average volume of 1,307,183. Sotera Health has a one year low of $10.71 and a one year high of $17.44. The stock has a fifty day moving average price of $15.96 and a 200 day moving average price of $13.69. The company has a current ratio of 2.93, a quick ratio of 2.59 and a debt-to-equity ratio of 5.46. The firm has a market capitalization of $4.48 billion, a price-to-earnings ratio of 63.40 and a beta of 2.08.

Wall Street Analyst Weigh In

A number of brokerages have commented on SHC. Barclays raised their price target on shares of Sotera Health from $14.00 to $17.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 6th. Royal Bank of Canada reissued an “outperform” rating and set a $17.00 price target on shares of Sotera Health in a research report on Tuesday, August 6th. Finally, Citigroup lifted their price target on shares of Sotera Health from $18.00 to $20.00 and gave the company a “buy” rating in a research note on Wednesday. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $16.50.

Insider Activity

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 value of $150,300,000.00. Following the transaction, the director now owns 49,215,301 shares in the company, valued at $739,705,974.03. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 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.