Sotera Health (NASDAQ:SHC) Issues FY24 Earnings Guidance

Sotera Health (NASDAQ:SHC) issued an update on its FY24 earnings guidance on Thursday morning. The company provided earnings per share guidance of $0.67 to $0.75 for the period, compared to the consensus earnings per share 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 Price Performance

Shares of SHC stock opened at $11.27 on Thursday. The stock’s 50-day moving average is $12.68 and its 200 day moving average is $14.05. Sotera Health has a 1-year low of $10.71 and a 1-year high of $19.40. The company has a debt-to-equity ratio of 5.16, a current ratio of 2.42 and a quick ratio of 2.21. The company has a market cap of $3.19 billion, a P/E ratio of 62.61 and a beta of 2.08.

Sotera Health (NASDAQ:SHC) last released its quarterly earnings results on Tuesday, February 27th. The company reported $0.26 EPS for the quarter, meeting the consensus estimate of $0.26. Sotera Health had a net margin of 4.90% and a return on equity of 51.32%. The business had revenue of $310.24 million during the quarter, compared to analyst estimates of $302.17 million. During the same period in the prior year, the firm posted $0.23 earnings per share. The company’s quarterly revenue was up 23.3% on a year-over-year basis. Research analysts predict that Sotera Health will post 0.64 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on SHC. Citigroup upgraded shares of Sotera Health from a neutral rating to a buy rating and lowered their target price for the company from $18.00 to $16.00 in a research note on Wednesday, April 3rd. Royal Bank of Canada reiterated an outperform rating and set a $20.00 price objective on shares of Sotera Health in a report on Monday, March 4th. KeyCorp began coverage on Sotera Health in a research note on Tuesday, February 6th. They set a sector weight rating on the stock. Jefferies Financial Group raised Sotera Health from a hold rating to a buy rating and upped their target price for the company from $15.00 to $15.50 in a research report on Monday, March 25th. Finally, Barclays lowered their price target on Sotera Health from $19.00 to $14.00 and set an overweight rating for the company in a report on Wednesday, April 10th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, Sotera Health has an average rating of Moderate Buy and an average price target of $17.70.

Insider Transactions at Sotera Health

In other Sotera Health news, Director Pincus & Co. Warburg sold 16,594,363 shares of Sotera Health stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $14.31, for a total transaction of $237,465,334.53. Following the completion of the sale, the director now owns 88,822,952 shares of the company’s stock, valued at approximately $1,271,056,443.12. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Sotera Health news, insider Michael P. Rutz sold 83,109 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 transaction of $1,189,289.79. Following the completion of the sale, the insider now directly owns 544,409 shares in the company, valued at approximately $7,790,492.79. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Pincus & Co. Warburg sold 16,594,363 shares of the company’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $14.31, for a total transaction 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 $1,271,056,443.12. The disclosure for this sale can be found here. 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.