Sotera Health (NYSE:SHC) Posts Earnings Results

Sotera Health (NYSE:SHC – Get Rating) released its quarterly earnings data on Thursday. The company reported $0.27 earnings per share for the quarter, beating analysts’ consensus estimates of $0.23 by $0.04, Briefing.com reports. Sotera Health had a net margin of 14.30% and a return on equity of 42.65%. The firm had revenue of $266.40 million for the quarter, compared to analyst estimates of $256.30 million. During the same period last year, the firm earned $0.25 earnings per share. The business’s quarterly revenue was up 5.8% compared to the same quarter last year. Sotera Health updated its FY22 guidance to $0.93-0.97 EPS and its FY 2022 guidance to $0.93-$0.97 EPS.

Sotera Health Stock Performance

NYSE SHC traded up $0.16 during trading hours on Friday, reaching $18.53. 621,680 shares of the company were exchanged, compared to its average volume of 781,029. Sotera Health has a 1 year low of $17.73 and a 1 year high of $27.38. The business’s 50 day simple moving average is $19.96 and its 200-day simple moving average is $20.61. The company has a quick ratio of 2.27, a current ratio of 2.58 and a debt-to-equity ratio of 2.78. The stock has a market capitalization of $5.24 billion, a P/E ratio of 37.82 and a beta of 0.35.

Institutional Trading of Sotera Health

A number of large investors have recently added to or reduced their stakes in the stock. Royal Bank of Canada increased its holdings in Sotera Health by 1.8% during the first quarter. Royal Bank of Canada now owns 109,461 shares of the company’s stock worth $2,372,000 after buying an additional 1,965 shares during the last quarter. MetLife Investment Management LLC purchased a new stake in Sotera Health during the first quarter worth about $139,000. Federated Hermes Inc. purchased a new stake in Sotera Health during the first quarter worth about $157,000. Sei Investments Co. increased its holdings in Sotera Health by 32.8% during the first quarter. Sei Investments Co. now owns 36,970 shares of the company’s stock worth $801,000 after buying an additional 9,128 shares during the last quarter. Finally, PNC Financial Services Group Inc. purchased a new position in shares of Sotera Health in the first quarter worth about $317,000. Hedge funds and other institutional investors own 87.44% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on SHC. Wolfe Research lowered shares of Sotera Health from an “outperform” rating to a “peer perform” rating and set a $26.00 price target on the stock. in a research report on Thursday, June 9th. Barclays dropped their price target on shares of Sotera Health from $24.00 to $22.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 13th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, Sotera Health presently has a consensus rating of “Moderate Buy” and an average target price of $25.83.

About Sotera Health

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Sotera Health Company provides sterilization, and lab testing and advisory services in the United States, Canada, Europe, and internationally. 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.