Connable Office Inc. acquired a new stake in shares of Cantel Medical Corp. (NYSE:CMD) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 3,282 shares of the company’s stock, valued at approximately $256,000.
Other institutional investors have also recently made changes to their positions in the company. Capstone Asset Management Co. purchased a new position in shares of Cantel Medical Corp. during the second quarter valued at about $690,000. Bank of Montreal Can acquired a new position in shares of Cantel Medical Corp. during the second quarter worth approximately $248,000. GW&K Investment Management LLC acquired a new position in shares of Cantel Medical Corp. during the second quarter worth approximately $30,121,000. Pennsylvania Trust Co acquired a new position in shares of Cantel Medical Corp. during the second quarter worth approximately $6,590,000. Finally, State of Alaska Department of Revenue acquired a new position in shares of Cantel Medical Corp. during the second quarter worth approximately $558,000. 83.88% of the stock is currently owned by institutional investors and hedge funds.
Shares of Cantel Medical Corp. (NYSE:CMD) opened at 73.79 on Friday. The company has a market capitalization of $3.06 billion, a P/E ratio of 43.66 and a beta of 1.23. Cantel Medical Corp. has a 52-week low of $68.19 and a 52-week high of $88.81. The firm’s 50 day moving average is $75.90 and its 200-day moving average is $76.88.
Cantel Medical Corp. (NYSE:CMD) last released its earnings results on Thursday, June 8th. The company reported $0.51 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.51. Cantel Medical Corp. had a net margin of 9.50% and a return on equity of 17.75%. The company had revenue of $192.10 million for the quarter, compared to the consensus estimate of $193.84 million. Cantel Medical Corp.’s revenue was up 10.6% on a year-over-year basis. Equities research analysts anticipate that Cantel Medical Corp. will post $2.06 earnings per share for the current fiscal year.
The firm also recently announced a semiannual dividend, which was paid on Monday, July 31st. Investors of record on Monday, July 17th were paid a dividend of $0.07 per share. The ex-dividend date of this dividend was Thursday, July 13th. This represents a yield of 0.18%. Cantel Medical Corp.’s payout ratio is 8.28%.
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A number of equities analysts have recently commented on CMD shares. Zacks Investment Research downgraded shares of Cantel Medical Corp. from a “hold” rating to a “sell” rating in a research note on Monday, June 5th. Benchmark Co. lowered shares of 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 shares of Cantel Medical Corp. from a “neutral” rating to a “buy” rating and set a $92.00 price objective for the company in a report on Wednesday, August 2nd. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $91.67.
In other news, Chairman Charles M. Diker sold 35,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 12th. The shares were sold at an average price of $75.52, for a total transaction of $2,643,200.00. Following the completion of the transaction, the chairman now directly owns 3,114,520 shares of the company’s stock, valued at approximately $235,208,550.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Charles M. Diker sold 13,000 shares of the firm’s 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 transaction, the chairman now directly owns 3,124,222 shares of the company’s stock, valued at $238,565,591.92. The disclosure for this sale can be found here. 14.90% of the stock is currently owned by corporate insiders.
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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