Sharps Compliance (SMED) Stock Rating Lowered by Zacks Investment Research

Sharps Compliance (NASDAQ:SMED) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a research note issued to investors on Thursday.

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 target price on shares of Sharps Compliance and gave the company a “buy” rating in a research report on Thursday, October 25th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $4.50.

SMED stock traded up $0.10 during trading hours on Thursday, hitting $3.32. The company’s stock had a trading volume of 3,524 shares, compared to its average volume of 8,448. The company has a quick ratio of 2.08, a current ratio of 2.74 and a debt-to-equity ratio of 0.05. The company has a market capitalization of $51.78 million, a price-to-earnings ratio of -83.00, a P/E/G ratio of 3.43 and a beta of 0.05. Sharps Compliance has a 12 month low of $2.97 and a 12 month high of $5.15.

Several large investors have recently added to or reduced their stakes in the stock. North Star Investment Management Corp. raised its stake in Sharps Compliance by 10.0% in the third quarter. North Star Investment Management Corp. now owns 260,425 shares of the industrial products company’s stock valued at $898,000 after purchasing an additional 23,775 shares in the last quarter. Ingalls & Snyder LLC grew its position in Sharps Compliance by 492.9% in the third quarter. Ingalls & Snyder LLC now owns 351,268 shares of the industrial products company’s stock valued at $1,212,000 after acquiring an additional 292,018 shares during the last quarter. Lapides Asset Management LLC grew its position in Sharps Compliance by 24.8% in the third quarter. Lapides Asset Management LLC now owns 163,200 shares of the industrial products company’s stock valued at $563,000 after acquiring an additional 32,400 shares during the last quarter. Wells Fargo & Company MN grew its position in Sharps Compliance by 16.0% in the third quarter. Wells Fargo & Company MN now owns 321,500 shares of the industrial products company’s stock valued at $1,109,000 after acquiring an additional 44,400 shares during the last quarter. Finally, Quantum Capital Management grew its position in Sharps Compliance by 82.7% in the third quarter. Quantum Capital Management now owns 484,456 shares of the industrial products company’s stock valued at $1,671,000 after acquiring an additional 219,351 shares during the last quarter. 21.35% of the stock is owned by institutional investors and hedge funds.

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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