Sotera Health (NASDAQ:SHC) Updates FY24 Earnings Guidance

Sotera Health (NASDAQ:SHC) updated its FY24 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $0.67 to $0.75 for the period, compared to the consensus estimate of $0.71. The company issued revenue guidance of +4 to +6% yr/yr or $1.091 billion to $1.112 billion, compared to the consensus revenue estimate of $1.10 billion.

Sotera Health Stock Up 1.0 %

Shares of SHC stock traded up $0.11 on Friday, reaching $11.02. 1,039,496 shares of the stock were exchanged, compared to its average volume of 1,036,531. The company has a current ratio of 3.20, a quick ratio of 2.21 and a debt-to-equity ratio of 5.18. The business’s 50 day moving average price is $12.45 and its 200 day moving average price is $14.01. The company has a market capitalization of $3.12 billion, a price-to-earnings ratio of 58.00 and a beta of 2.08. Sotera Health has a twelve month low of $10.71 and a twelve month high of $19.40.

Sotera Health (NASDAQ:SHC) last announced its quarterly earnings results on Tuesday, February 27th. The company reported $0.26 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.26. Sotera Health had a return on equity of 48.47% and a net margin of 5.09%. The company had revenue of $310.24 million during the quarter, compared to the consensus estimate of $302.17 million. During the same period in the previous year, the business earned $0.23 EPS. Sotera Health’s revenue for the quarter was up 23.3% on a year-over-year basis. As a group, sell-side analysts expect that Sotera Health will post 0.63 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on SHC. Barclays cut their price objective on shares of Sotera Health from $19.00 to $14.00 and set an overweight rating on the stock in a report on Wednesday, April 10th. Royal Bank of Canada reissued an outperform rating and issued a $20.00 price target on shares of Sotera Health in a research report on Monday, March 4th. Citigroup upgraded shares of Sotera Health from a neutral rating to a buy rating and decreased their price objective for the company from $18.00 to $16.00 in a research note on Wednesday, April 3rd. KeyCorp initiated coverage on Sotera Health in a research report on Tuesday, February 6th. They set a sector weight rating on the stock. Finally, TheStreet upgraded Sotera Health from a d rating to a c- rating in a research note on Tuesday, February 27th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Sotera Health currently has an average rating of Moderate Buy and a consensus target price of $17.70.

Insider Activity at Sotera Health

In other news, Director Pincus & Co. Warburg sold 16,594,363 shares of the business’s stock in a transaction that occurred 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 transaction, the director now owns 88,822,952 shares of the company’s stock, valued at $1,271,056,443.12. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, insider Michael P. Rutz sold 83,109 shares of the stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $14.31, for a total transaction of $1,189,289.79. Following the completion of the transaction, the insider now directly owns 544,409 shares of the company’s stock, valued at $7,790,492.79. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Pincus & Co. Warburg sold 16,594,363 shares of Sotera Health stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $14.31, for a total value of $237,465,334.53. Following the completion of the sale, the director now directly 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. 55.12% of the stock is currently owned by insiders.

Sotera Health Company Profile

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.