Sharps Compliance (SMED) Lifted to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of Sharps Compliance (NASDAQ:SMED) from a hold rating to a buy rating in a research report report published on Thursday morning, Zacks.com reports. They currently have $4.00 target price 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. “

Sharps Compliance stock opened at $3.38 on Thursday. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.63 and a quick ratio of 2.02. Sharps Compliance has a 52 week low of $2.97 and a 52 week high of $4.22. The stock has a market cap of $54.54 million, a P/E ratio of -84.50, a PEG ratio of 3.18 and a beta of 0.16.

Sharps Compliance (NASDAQ:SMED) last announced its quarterly earnings results on Wednesday, April 24th. The industrial products company reported ($0.07) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.01) by ($0.06). Sharps Compliance had a negative net margin of 1.00% and a negative return on equity of 1.64%. The company had revenue of $9.45 million during the quarter, compared to analyst estimates of $10.09 million. During the same period in the previous year, the firm posted ($0.05) earnings per share. On average, equities analysts anticipate that Sharps Compliance will post 0.06 EPS for the current fiscal year.

A hedge fund recently raised its stake in Sharps Compliance stock. Wells Fargo & Company MN raised its stake in Sharps Compliance Corp. (NASDAQ:SMED) by 16.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 321,500 shares of the industrial products company’s stock after acquiring an additional 44,400 shares during the quarter. Wells Fargo & Company MN owned approximately 2.00% of Sharps Compliance worth $1,109,000 at the end of the most recent reporting period. 20.41% of the stock is currently owned by hedge funds and other institutional investors.

About Sharps Compliance

Sharps Compliance Corp. provides medical, pharmaceutical, and hazardous waste management services in the United States. It offers Sharps Recovery System for the containment, transportation, treatment, and tracking of medical waste and used healthcare materials generated outside the hospital and health care facility settings; TakeAway Medication Recovery System, a solution that facilitates the proper disposal of unused medications; MedSafe, a solution for the safe collection, transportation, and proper disposal of unwanted and expired prescription medications; and ComplianceTRAC, a Web-based compliance and training program.

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