Sotera Health (NASDAQ:SHC) Releases FY 2024 Earnings Guidance

Sotera Health (NASDAQ:SHC) issued an update on its FY 2024 earnings guidance on Friday morning. The company provided EPS guidance of 0.670-0.750 for the period, compared to the consensus EPS estimate of 0.710. The company issued revenue guidance of $1.1 billion-$1.1 billion, compared to the consensus revenue estimate of $1.1 billion.

Sotera Health Stock Up 1.1 %

Sotera Health stock traded up $0.12 during mid-day trading on Friday, hitting $11.03. The company had a trading volume of 408,457 shares, compared to its average volume of 1,540,256. The business has a fifty day moving average of $12.56 and a 200 day moving average of $14.03. The stock has a market cap of $3.12 billion, a price-to-earnings ratio of 60.61 and a beta of 2.08. Sotera Health has a 1 year low of $10.71 and a 1 year high of $19.40. The company has a quick ratio of 2.21, a current ratio of 2.42 and a debt-to-equity ratio of 5.16.

Sotera Health (NASDAQ:SHC) last released its quarterly earnings results on Tuesday, February 27th. The company reported $0.26 EPS for the quarter, hitting the consensus estimate of $0.26. Sotera Health had a return on equity of 51.32% and a net margin of 4.90%. The business had revenue of $310.24 million during the quarter, compared to analysts’ expectations of $302.17 million. During the same quarter in the prior year, the business earned $0.23 earnings per share. The company’s quarterly revenue was up 23.3% compared to the same quarter last year. On average, sell-side analysts expect that Sotera Health will post 0.63 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on SHC shares. Jefferies Financial Group raised shares of Sotera Health from a hold rating to a buy rating and raised their target price for the stock from $15.00 to $15.50 in a research report on Monday, March 25th. Royal Bank of Canada reissued an outperform rating and set a $20.00 target price on shares of Sotera Health in a research note on Monday, March 4th. KeyCorp initiated coverage on shares of Sotera Health in a research note on Tuesday, February 6th. They issued a sector weight rating on the stock. Barclays dropped their price target on shares of Sotera Health from $19.00 to $14.00 and set an overweight rating on the stock in a research report on Wednesday, April 10th. Finally, Citigroup raised shares of Sotera Health from a neutral rating to a buy rating and dropped their target price for the stock from $18.00 to $16.00 in a research report on Wednesday, April 3rd. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, Sotera Health presently has a consensus rating of Moderate Buy and an average target price of $17.70.

Insiders Place Their Bets

In related news, insider Michael P. Rutz sold 83,109 shares of the stock in a transaction that occurred on 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 completion of the sale, the insider now directly owns 544,409 shares of the company’s stock, valued at approximately $7,790,492.79. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, insider Michael P. Rutz sold 83,109 shares of the firm’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $14.31, for a total value of $1,189,289.79. Following the transaction, the insider now owns 544,409 shares in the company, valued at $7,790,492.79. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Pincus & Co. Warburg sold 16,594,363 shares of the firm’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $14.31, for a total value of $237,465,334.53. Following the completion of the transaction, the director now owns 88,822,952 shares in the company, valued at approximately $1,271,056,443.12. 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.