Zacks Investment Research upgraded shares of Sharps Compliance Corp (NASDAQ:SMED) from a sell rating to a buy rating in a report issued on Wednesday morning. Zacks Investment Research currently has $4.50 price objective on the industrial products company’s stock.
According to Zacks, “Headquartered in Houston, Texas, SHARPS COMPLIANCE is a leading provider of cost-effective disposal solutions for small quantity generators of medical waste. The Company’s flagship product, the Sharps Disposal by Mail System, is a cost-effective and easy-to-use solution to dispose of medical waste such as hypodermic needles, lancets and any other medical device or objects used to puncture or lacerate the skin. The Company also offers a number of products specifically designed for the home healthcare market. Sharps Compliance focuses on targeted growth markets such as the pharmaceutical, retail, healthcare, commercial, professional and hospitality markets, as well as serving a variety of additional markets. Sharps is a leading proponent and participant in the development of public awareness and solutions for the safe disposal of needles, syringes and other sharps in the community setting. “
A number of other equities analysts also recently issued reports on SMED. First Analysis raised Sharps Compliance Corp from an equal weight rating to an overweight rating and set a $8.00 price target for the company in a report on Monday, August 14th. ValuEngine raised Sharps Compliance Corp from a sell rating to a hold rating in a report on Friday, August 11th. Finally, Stifel Nicolaus reaffirmed a buy rating and issued a $7.00 price target on shares of Sharps Compliance Corp in a report on Friday, August 11th.
Sharps Compliance Corp (SMED) traded up 2.18% during mid-day trading on Wednesday, hitting $4.22. 9,689 shares of the stock were exchanged. Sharps Compliance Corp has a 12-month low of $3.32 and a 12-month high of $5.73. The firm’s market cap is $67.55 million. The company has a 50 day moving average of $4.68 and a 200 day moving average of $4.53.
Sharps Compliance Corp (NASDAQ:SMED) last announced its quarterly earnings results on Thursday, August 10th. The industrial products company reported $0.04 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.05 by ($0.01). The business had revenue of $10.36 million during the quarter, compared to analyst estimates of $10.51 million. Sharps Compliance Corp had a negative net margin of 0.65% and a negative return on equity of 0.98%. The business’s revenue for the quarter was up 16.8% compared to the same quarter last year. During the same period last year, the company earned $0.01 earnings per share. On average, equities analysts anticipate that Sharps Compliance Corp will post $0.08 earnings per share for the current fiscal year.
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Several hedge funds have recently bought and sold shares of SMED. Lapides Asset Management LLC boosted its holdings in shares of Sharps Compliance Corp by 2.3% in the second quarter. Lapides Asset Management LLC now owns 172,600 shares of the industrial products company’s stock valued at $730,000 after acquiring an additional 3,800 shares during the period. Cadence Capital Management LLC boosted its holdings in shares of Sharps Compliance Corp by 5.3% in the second quarter. Cadence Capital Management LLC now owns 177,450 shares of the industrial products company’s stock valued at $751,000 after acquiring an additional 8,860 shares during the period. North Star Investment Management Corp. boosted its holdings in shares of Sharps Compliance Corp by 98.5% in the second quarter. North Star Investment Management Corp. now owns 193,350 shares of the industrial products company’s stock valued at $818,000 after acquiring an additional 95,922 shares during the period. Finally, Goodman Financial Corp boosted its holdings in shares of Sharps Compliance Corp by 1.4% in the second quarter. Goodman Financial Corp now owns 940,701 shares of the industrial products company’s stock valued at $3,979,000 after acquiring an additional 12,746 shares during the period. 24.97% of the stock is owned by institutional investors and hedge funds.
About Sharps Compliance Corp
Sharps Compliance Corp. is a provider of waste management services, including medical, pharmaceutical and hazardous. The Company’s solutions include Sharps Recovery System, TakeAway Medication Recovery System, MedSafe, Route-Based Pickup Service, TakeAway Recycle System, ComplianceTRAC, Universal Waste Shipback Systems and Other Solutions.
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