Cantel Medical Corp. (NYSE:CMD) was the recipient of a large decline in short interest in the month of October. As of October 13th, there was short interest totalling 798,587 shares, a decline of 32.0% from the September 29th total of 1,175,114 shares. Based on an average trading volume of 222,726 shares, the short-interest ratio is currently 3.6 days.
In related news, EVP Eric W. Nodiff sold 2,868 shares of the firm’s stock in a transaction that occurred on Friday, October 20th. The shares were sold at an average price of $97.55, for a total transaction of $279,773.40. Following the completion of the sale, the executive vice president now directly owns 39,102 shares in the company, valued at $3,814,400.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Mark N. Diker sold 7,000 shares of Cantel Medical Corp. stock in a transaction dated Tuesday, October 3rd. The shares were sold at an average price of $98.90, for a total transaction of $692,300.00. The disclosure for this sale can be found here. Insiders sold a total of 36,368 shares of company stock worth $3,576,028 in the last ninety days. 14.90% of the stock is owned by corporate insiders.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Globeflex Capital L P purchased a new position in Cantel Medical Corp. in the second quarter worth about $114,000. Integrated Investment Consultants LLC bought a new stake in Cantel Medical Corp. during the 2nd quarter valued at approximately $161,000. LS Investment Advisors LLC bought a new stake in Cantel Medical Corp. during the 2nd quarter valued at approximately $172,000. World Asset Management Inc bought a new stake in Cantel Medical Corp. during the 3rd quarter valued at approximately $224,000. Finally, Waldron LP bought a new stake in Cantel Medical Corp. during the 3rd quarter valued at approximately $232,000. Hedge funds and other institutional investors own 85.16% of the company’s stock.
A number of research firms recently weighed in on CMD. Zacks Investment Research raised shares of Cantel Medical Corp. from a “hold” rating to a “buy” rating and set a $83.00 price target for the company in a research note on Tuesday, August 1st. Sidoti raised shares of Cantel Medical Corp. from a “neutral” rating to a “buy” rating and set a $92.00 price target for the company in a research note on Wednesday, August 2nd. Finally, Needham & Company LLC restated a “hold” rating on shares of Cantel Medical Corp. in a report on Friday, September 1st. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $91.67.
Cantel Medical Corp. (NYSE CMD) opened at $98.28 on Monday. Cantel Medical Corp. has a 1-year low of $69.21 and a 1-year high of $99.83. The company has a market cap of $4,100.98, a price-to-earnings ratio of 47.25 and a beta of 1.23. The company has a current ratio of 2.41, a quick ratio of 1.49 and a debt-to-equity ratio of 0.24.
Cantel Medical Corp. (NYSE:CMD) last announced its quarterly earnings data on Thursday, September 28th. The company reported $0.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.52 by $0.02. Cantel Medical Corp. had a net margin of 9.27% and a return on equity of 17.60%. The firm had revenue of $205.50 million for the quarter, compared to the consensus estimate of $200.32 million. The firm’s revenue was up 14.8% compared to the same quarter last year. analysts forecast that Cantel Medical Corp. will post 2.34 EPS for the current fiscal year.
The company also recently disclosed a Semi-Annual dividend, which will be paid on Wednesday, January 31st. Investors of record on Wednesday, January 17th will be paid a $0.085 dividend. This is a boost from Cantel Medical Corp.’s previous Semi-Annual dividend of $0.07. This represents a yield of 0.17%. The ex-dividend date is Tuesday, January 16th. Cantel Medical Corp.’s payout ratio is currently 8.19%.
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Cantel Medical Corp. Company Profile
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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