Why Sotera Health Stock Tumbled Again on Tuesday
For the second straight day, beleaguered Sotera Health (NASDAQ: SHC) took a wallop on the stock exchange Tuesday. The company's shares were hammered by over 16%, on the back of a recommendation downgrade from a prominent investment bank.
Tuesday morning, Goldman Sachs analyst Amit Hazan lowered his Sotera recommendation to neutral from the previous buy. He also took a broadsword to his price target, slicing it down to $9 per share from the preceding $23.
While drastic, Hazan's adjustments were hardly shocking. They follow Monday's news that a jury in an Illinois county court awarded a plaintiff $363 million from the healthcare company and two related businesses. That plaintiff, Susan Kamuda, sued the three entities for being responsible for her breast cancer and her son's non-Hodgkin's lymphoma.
Source Fool.com
