Man Group plc bought a new stake in Sotera Health Company (NASDAQ:SHC – Free Report) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 81,321 shares of the company’s stock, valued at approximately $1,443,000.
A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Jupiter Topco LLC purchased a new stake in shares of Sotera Health during the 2nd quarter worth approximately $149,137,000. ABS Investment Management LLC acquired a new stake in shares of Sotera Health in the 2nd quarter worth approximately $2,218,750. Ancora Advisors LLC purchased a new position in Sotera Health in the 2nd quarter valued at approximately $47,635,000. Canada Pension Plan Investment Board purchased a new position in Sotera Health in the 2nd quarter valued at approximately $754,000. Finally, Lakewood Capital Management LP acquired a new position in Sotera Health during the second quarter worth $70,638,000. 91.03% of the stock is currently owned by institutional investors and hedge funds.
Sotera Health Stock Performance
Shares of NASDAQ SHC opened at $18.96 on Thursday. The company has a market cap of $5.41 billion, a PE ratio of 33.26 and a beta of 1.77. Sotera Health Company has a 12 month low of $13.09 and a 12 month high of $19.85. The company has a debt-to-equity ratio of 3.33, a current ratio of 2.80 and a quick ratio of 2.55. The company has a 50-day simple moving average of $18.28 and a 200-day simple moving average of $16.44.
Insider Buying and Selling at Sotera Health
In related news, Chairman Michael B. Jr. Petras sold 850,000 shares of the company’s stock in a transaction on Monday, August 17th. The stock was sold at an average price of $18.50, for a total value of $15,725,000.00. Following the completion of the transaction, the chairman directly owned 3,969,393 shares in the company, valued at approximately $73,433,770.50. This represents a 17.64% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Michael P. Rutz sold 150,000 shares of the stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $18.84, for a total value of $2,826,000.00. Following the transaction, the insider owned 334,279 shares in the company, valued at $6,297,816.36. This trade represents a 30.97% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 1,294,515 shares of company stock valued at $23,999,528 over the last quarter. 15.36% of the stock is currently owned by insiders.
Analyst Ratings Changes
A number of research firms have commented on SHC. Citigroup boosted their target price on Sotera Health from $23.00 to $25.00 and gave the stock a “buy” rating in a research report on Friday, August 7th. Barclays raised their price target on Sotera Health from $19.00 to $22.00 and gave the company an “overweight” rating in a research report on Friday, August 7th. Wall Street Zen upgraded shares of Sotera Health from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 29th. Piper Sandler reissued an “overweight” rating and issued a $25.00 price objective (up from $22.00) on shares of Sotera Health in a research note on Friday, August 7th. Finally, The Goldman Sachs Group began coverage on shares of Sotera Health in a report on Friday, June 5th. They set a “buy” rating and a $20.00 target price for the company. Eight research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $21.50.
View Our Latest Research Report on SHC
Sotera Health Profile
Sotera Health Inc (NASDAQ: SHC) is a global provider of sterilization and laboratory testing services that support the medical device, pharmaceutical, life sciences and consumer product industries. Headquartered in Jacksonville, Florida, the company offers a suite of services designed to ensure products meet rigorous safety and regulatory requirements before reaching market.
Sotera Health operates through three primary service platforms. Its Sterigenics division delivers contract sterilization solutions, including ethylene oxide (EtO), gamma irradiation, electron beam and X-ray technologies.
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