Report
Barbara Noverini
EUR 101.80 For Business Accounts Only

What’s Next? With Class Action Now In Rear View Mirror, Stericycle Discloses FCPA Investigation

In a 10-Q released on Aug. 9, 2017, Stericycle disclosed that it is the subject of a Foreign Corrupt Practices Act investigation related to its business in Latin America. We spoke with management, who confirmed that the investigation is in very early stages and that the firm is fully cooperating; as such, we don’t intend to alter our fair value estimate of $110 based on this news. Stericycle’s Latin American business currently represents an approximately mid-single-digit percentage of the firm’s...
Underlying
Stericycle Inc.

Stericycle is engaged in the medical and hazardous waste management and secure information services. The company's segments are: North America, and International Regulated Waste and Compliance Services, which provides medical waste management services, pharmaceutical waste services, compliance programs, retail and healthcare, industrial and manufacturing hazardous waste management and secure information destruction; and Domestic Communication and Related Services, which provides appointment reminders, secure messaging, event registration, and other communications mainly for hospitals and integrated delivery network's as well as regulated recall and returns management communication, and logistics.

Provider
Morningstar
Morningstar

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.

Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.

We have operations in 27 countries.

Analysts
Barbara Noverini

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