Zacks Investment Research cut shares of Cantel Medical Corp. (NYSE:CMD) from a buy rating to a sell rating in a research report sent to investors on Wednesday morning.

According to Zacks, “Cantel Medical Corp. is a healthcare company concentrating primarily in infection prevention and control products and diagnostic and therapeutic medical equipment. Through its United States subsidiary, MediVators, Inc., Cantel serves customers worldwide by designing, developing, manufacturing, marketing and distributing innovative products for the infection prevention and control industry. “

CMD has been the subject of a number of other research reports. Benchmark Co. downgraded Cantel Medical Corp. from a buy rating to a hold rating in a report on Friday, June 9th. Needham & Company LLC reissued a hold rating on shares of Cantel Medical Corp. in a report on Thursday, June 8th. Finally, Sidoti raised Cantel Medical Corp. from a neutral rating to a buy rating and set a $92.00 price target for the company in a report on Wednesday. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the stock. The company currently has a consensus rating of Hold and an average price target of $91.67.

Shares of Cantel Medical Corp. (NYSE CMD) traded up 0.55% during midday trading on Wednesday, hitting $76.76. The stock had a trading volume of 68,443 shares. The company has a market cap of $3.19 billion, a P/E ratio of 45.42 and a beta of 1.23. The stock has a 50 day moving average of $76.11 and a 200-day moving average of $76.95. Cantel Medical Corp. has a one year low of $67.26 and a one year high of $88.81.

Cantel Medical Corp. (NYSE:CMD) last issued its quarterly earnings results on Thursday, June 8th. The company reported $0.51 EPS for the quarter, meeting analysts’ consensus estimates of $0.51. The firm had revenue of $192.10 million during the quarter, compared to the consensus estimate of $193.84 million. Cantel Medical Corp. had a return on equity of 17.75% and a net margin of 9.50%. The business’s quarterly revenue was up 10.6% compared to the same quarter last year. Analysts forecast that Cantel Medical Corp. will post $2.06 EPS for the current fiscal year.

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The firm also recently declared a semiannual dividend, which was paid on Monday, July 31st. Investors of record on Monday, July 17th were issued a $0.07 dividend. This represents a yield of 0.18%. The ex-dividend date of this dividend was Thursday, July 13th. Cantel Medical Corp.’s dividend payout ratio is currently 8.28%.

In related news, Chairman Charles M. Diker sold 35,000 shares of the stock in a transaction dated Wednesday, July 12th. The stock was sold at an average price of $75.52, for a total value of $2,643,200.00. Following the completion of the transaction, the chairman now owns 3,114,520 shares of the company’s stock, valued at $235,208,550.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Charles M. Diker sold 13,000 shares of the stock in a transaction dated Monday, June 12th. The shares were sold at an average price of $76.36, for a total value of $992,680.00. Following the completion of the transaction, the chairman now directly owns 3,124,222 shares of the company’s stock, valued at approximately $238,565,591.92. The disclosure for this sale can be found here. Corporate insiders own 14.90% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Integrated Investment Consultants LLC acquired a new position in shares of Cantel Medical Corp. during the second quarter worth approximately $161,000. LS Investment Advisors LLC purchased a new stake in shares of Cantel Medical Corp. during the second quarter valued at about $172,000. SG Americas Securities LLC purchased a new stake in shares of Cantel Medical Corp. during the second quarter valued at about $230,000. First Quadrant L P CA purchased a new stake in shares of Cantel Medical Corp. during the second quarter valued at about $233,000. Finally, Cue Financial Group Inc. purchased a new stake in shares of Cantel Medical Corp. during the second quarter valued at about $234,000. 83.72% of the stock is owned by hedge funds and other institutional investors.

About Cantel Medical Corp.

Cantel Medical Corp. is a provider of infection prevention products and services in the healthcare market. The Company’s operating segments include Endoscopy; Water Purification and Filtration; Healthcare Disposables, and Dialysis. Its Endoscopy segment includes medical device reprocessing systems, disinfectants, detergents and other supplies.

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