Sharps Compliance (SMED) Upgraded at Zacks Investment Research

Zacks Investment Research upgraded shares of Sharps Compliance (NASDAQ:SMED) from a strong sell rating to a hold rating in a research report released on Wednesday morning.

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. “

Separately, Barrington Research set a $5.00 price target on shares of Sharps Compliance and gave the stock a buy rating in a research report on Thursday, October 25th. Three equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and a consensus target price of $4.50.

Shares of NASDAQ SMED traded down $0.03 during trading on Wednesday, hitting $3.97. 6,906 shares of the company traded hands, compared to its average volume of 17,171. Sharps Compliance has a 1 year low of $3.02 and a 1 year high of $5.15. The stock has a market capitalization of $64.33 million, a PE ratio of -99.25, a P/E/G ratio of 1.65 and a beta of 0.23. The company has a quick ratio of 2.05, a current ratio of 2.74 and a debt-to-equity ratio of 0.05.

Sharps Compliance (NASDAQ:SMED) last announced its quarterly earnings data on Tuesday, August 14th. The industrial products company reported ($0.01) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.03 by ($0.04). Sharps Compliance had a negative net margin of 1.66% and a negative return on equity of 2.66%. The company had revenue of $9.91 million for the quarter, compared to analysts’ expectations of $11.24 million. Equities research analysts expect that Sharps Compliance will post 0.11 EPS for the current fiscal year.

Hedge funds have recently modified their holdings of the business. Lapides Asset Management LLC lifted its holdings in Sharps Compliance by 24.8% in the 3rd quarter. Lapides Asset Management LLC now owns 163,200 shares of the industrial products company’s stock worth $563,000 after buying an additional 32,400 shares in the last quarter. North Star Investment Management Corp. acquired a new position in Sharps Compliance in the 2nd quarter worth $873,000. Quantum Capital Management lifted its holdings in Sharps Compliance by 78.4% in the 2nd quarter. Quantum Capital Management now owns 265,105 shares of the industrial products company’s stock worth $978,000 after buying an additional 116,512 shares in the last quarter. Wells Fargo & Company MN lifted its holdings in Sharps Compliance by 59.6% in the 1st quarter. Wells Fargo & Company MN now owns 227,500 shares of the industrial products company’s stock worth $1,033,000 after buying an additional 85,000 shares in the last quarter. Finally, Ingalls & Snyder LLC lifted its holdings in Sharps Compliance by 492.9% in the 3rd quarter. Ingalls & Snyder LLC now owns 351,268 shares of the industrial products company’s stock worth $1,212,000 after buying an additional 292,018 shares in the last quarter. Hedge funds and other institutional investors own 24.82% of the company’s stock.

Sharps Compliance Company Profile

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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