Investors Buy Shares of Cantel Medical Corp. (CMD) on Weakness
Traders bought shares of Cantel Medical Corp. (NYSE:CMD) on weakness during trading hours on Wednesday. $8.23 million flowed into the stock on the tick-up and $0.01 million flowed out of the stock on the tick-down, for a money net flow of $8.22 million into the stock. Of all companies tracked, Cantel Medical Corp. had the 8th highest net in-flow for the day. Cantel Medical Corp. traded down ($0.05) for the day and closed at $81.16
Several research firms have issued reports on CMD. Zacks Investment Research upgraded Cantel Medical Corp. from a “sell” rating to a “hold” rating in a research note on Tuesday, August 8th. Sidoti upgraded Cantel Medical Corp. from a “neutral” rating to a “buy” rating and set a $92.00 price objective on the stock in a research note on Wednesday, August 2nd. Benchmark Co. lowered Cantel Medical Corp. from a “buy” rating to a “hold” rating in a research note on Friday, June 9th. Finally, Needham & Company LLC restated a “hold” rating on shares of Cantel Medical Corp. in a research note on Thursday, June 8th. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Cantel Medical Corp. presently has a consensus rating of “Hold” and a consensus target price of $91.67.
The stock has a market cap of $3.37 billion, a P/E ratio of 48.00 and a beta of 1.23. The company’s 50-day moving average is $76.65 and its 200-day moving average is $76.65.
Cantel Medical Corp. (NYSE:CMD) last posted its earnings results on Thursday, June 8th. The company reported $0.51 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.51. Cantel Medical Corp. had a net margin of 9.50% and a return on equity of 17.75%. The firm had revenue of $192.10 million for the quarter, compared to analysts’ expectations of $193.84 million. The business’s quarterly revenue was up 10.6% on a year-over-year basis. On average, analysts expect that Cantel Medical Corp. will post $2.06 EPS for the current fiscal year.
In related news, Chairman Charles M. Diker sold 35,000 shares of Cantel Medical Corp. stock in a transaction that occurred on Wednesday, July 12th. The shares were sold at an average price of $75.52, for a total value of $2,643,200.00. Following the sale, the chairman now owns 3,114,520 shares of the company’s stock, valued at approximately $235,208,550.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Charles M. Diker sold 13,000 shares of Cantel Medical Corp. stock in a transaction that occurred on Monday, June 12th. The stock was sold at an average price of $76.36, for a total transaction of $992,680.00. Following the completion of the sale, the chairman now directly owns 3,124,222 shares in the company, valued at approximately $238,565,591.92. The disclosure for this sale can be found here. Insiders own 14.90% of the company’s stock.
Several large investors have recently bought and sold shares of the stock. Navellier & Associates Inc bought a new stake in shares of Cantel Medical Corp. in the 2nd quarter worth approximately $275,000. Kimelman & Baird LLC bought a new stake in shares of Cantel Medical Corp. in the 2nd quarter worth approximately $17,459,000. Ashford Capital Management Inc. bought a new stake in shares of Cantel Medical Corp. in the 2nd quarter worth approximately $347,000. Koch Industries Inc. bought a new stake in shares of Cantel Medical Corp. in the 2nd quarter worth approximately $407,000. Finally, 1st Global Advisors Inc. bought a new stake in shares of Cantel Medical Corp. in the 2nd quarter worth approximately $593,000. 84.28% of the stock is currently owned by institutional investors.
TRADEMARK VIOLATION WARNING: This piece of content was first published by Daily Political and is the sole property of of Daily Political. If you are reading this piece of content on another site, it was stolen and reposted in violation of US & international trademark & copyright legislation. The legal version of this piece of content can be viewed at https://www.dailypolitical.com/2017/09/08/investors-buy-shares-of-cantel-medical-corp-cmd-on-weakness.html.
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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.