Stericycle, Inc. (NASDAQ:SRCL) Experiences Heavy Trading Volume

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(NASDAQ:SRCL) shares saw heavy trading volume with 1,374K shares changing hands by the end of trading on Friday. Shares saw a steep increase in trading volume of 104.03% over the normal average daily volume.

Investors are more bearish lately if you put credence in the rise in short interest. The firm experienced a rise in short interest of 11.74% between July 31, 2017 and August 15, 2017. Short shares increased from 4,897,896 to 5,473,053 over that period. With short interest at 5,473,053 and short average daily volume at 1,406,990, days to cover is 4.0 and the percentage of shorted shares was 0.06% on August 15.

Here are a few substantial investment firms who have updated their positions. Point72 Asset Management, L.p. expanded its position by buying 434,600 shares an increase of 1,073.1%. Point72 Asset Management, L.p. owns 475,100 shares with a value of $36,260,000. The total value of its holdings increased 980.1%. Swedbank bolstered its investment by buying 9,024 shares an increase of 2.7% from 03/31/2017 to 06/30/2017. Swedbank now holds 337,958 shares valued at $25,793,000. The value of the position overall is down by 5.4%.

Douglas Lane & Associates, LLC trimmed its ownership by shedding 29,552 shares a decrease of 24.2% as of 06/30/2017. Douglas Lane & Associates, LLC currently owns 92,469 shares worth $7,057,000. The value of the position overall is down by 30.2%. As of quarter end Lgt Capital Partners Ltd. had bought a total of 14,000 shares growing its position 22.6%. The value of the investment in SRCL went from $5,139,000 to $5,800,000 a change of $661,000 quarter over quarter.

BMO Capital starting coverage on the stock setting a rating of “Market Perform”.

The company is trading down from yesterday’s close of 70.5. Shares of the company are trading at $69.00 which is marginally under the 50 day moving average of $73.91 and impressively lower than the 200 day moving average of $79.60. The 50 day moving average was down $-4.91 or -6.64% and the 200 day average went down $-10.60 or -13.32%.

In the latest earnings report the EPS was $-0.25 and is estimated to be $4.60 for the current year with 85,338,000 shares now outstanding. Analysts expect next quarter’s EPS to be $1.21 and the next full year EPS is projected to be $4.80.

Stericycle, Inc., launched on March 21, 1989, is a business-to-business services provider. The Company focuses on regulated and compliance solutions for healthcare, retail, and commercial businesses. The Business’s segments include Domestic and Canada Regulated Waste and Compliance Services (RCS), Domestic Communication and Related Services (CRS), International RCS and All other. The Domestic and Canada RCS and International RCS segments include medical waste disposal, pharmaceutical waste disposal, hazardous waste management, sustainability solutions for expired or unused inventory, secure information destruction of documents and e-media, training and consulting through its Steri-Safe and Clinical Services programs, and other regulatory compliance services. The Domestic CRS segment consists of inbound/outbound communication, automated patient reminders, online scheduling, notifications, product retrievals, product returns and quality audits..