Shares of Cantel Medical Corp. (NYSE:CMN) saw strong trading volume on Friday following a stronger than expected earnings report. 200,092 shares traded hands during trading, an increase of 1% from the previous session’s volume of 199,096 shares.The stock last traded at $78.20 and had previously closed at $77.20.
The company reported $0.48 EPS for the quarter, topping analysts’ consensus estimates of $0.37 by $0.11. Cantel Medical Corp. had a return on equity of 16.70% and a net margin of 9.02%. The firm had revenue of $179 million for the quarter. During the same quarter in the prior year, the company posted $0.39 EPS. The company’s quarterly revenue was up 18.3% on a year-over-year basis.
A number of brokerages have issued reports on CMN. Needham & Company LLC began coverage on Cantel Medical Corp. in a research report on Wednesday, August 24th. They set a “hold” rating for the company. Benchmark Co. began coverage on Cantel Medical Corp. in a research report on Monday, August 29th. They set a “buy” rating and a $83.00 target price for the company.
Large investors have recently made changes to their positions in the company. Mason Street Advisors LLC bought a new stake in shares of Cantel Medical Corp. during the second quarter worth about $482,000. Schwab Charles Investment Management Inc. boosted its stake in Cantel Medical Corp. by 5.5% in the second quarter. Schwab Charles Investment Management Inc. now owns 126,662 shares of the company’s stock valued at $8,706,000 after buying an additional 6,608 shares in the last quarter. Stifel Financial Corp boosted its stake in Cantel Medical Corp. by 5.3% in the second quarter. Stifel Financial Corp now owns 85,294 shares of the company’s stock valued at $5,862,000 after buying an additional 4,271 shares in the last quarter. Amalgamated Bank boosted its stake in Cantel Medical Corp. by 14.6% in the second quarter. Amalgamated Bank now owns 4,139 shares of the company’s stock valued at $297,000 after buying an additional 526 shares in the last quarter. Finally, Legal & General Group Plc boosted its stake in Cantel Medical Corp. by 4.7% in the second quarter. Legal & General Group Plc now owns 7,679 shares of the company’s stock valued at $527,000 after buying an additional 347 shares in the last quarter. 81.61% of the stock is owned by hedge funds and other institutional investors.
The firm’s 50 day moving average is $76.26 and its 200-day moving average is $70.71. The firm has a market capitalization of $3.23 billion, a P/E ratio of 57.04 and a beta of 1.66.
About Cantel Medical Corp.
Cantel Medical Corp. is a provider of infection prevention and control products and services in the healthcare market. The Company’s segments include Endoscopy, Water Purification and Filtration, Healthcare Disposables, Dialysis and Specialty Packaging. Its Endoscopy segment includes medical device reprocessing systems, disinfectants, detergents and other supplies.
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