Cantel Medical Corp. (NYSE:CMN) saw an uptick in trading volume on Friday following a stronger than expected earnings report. 200,092 shares were traded 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 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.11. The firm had revenue of $179 million for the quarter. Cantel Medical Corp. had a net margin of 8.94% and a return on equity of 16.20%. The company’s quarterly revenue was up 18.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.39 EPS.
Several research firms have recently issued reports on CMN. Needham & Company LLC began coverage on shares of Cantel Medical Corp. in a research report on Wednesday, August 24th. They set a “hold” rating on the stock. Benchmark Co. assumed coverage on shares of Cantel Medical Corp. in a research report on Monday, August 29th. They issued a “buy” rating and a $83.00 price target on the stock.
A number of large investors have recently made changes to their positions in CMN. Quadrature Capital Ltd acquired a new stake in shares of Cantel Medical Corp. during the first quarter valued at $232,000. UBS Group AG boosted its stake in shares of Cantel Medical Corp. by 2.6% in the first quarter. UBS Group AG now owns 52,630 shares of the company’s stock valued at $3,756,000 after buying an additional 1,348 shares in the last quarter. State Street Corp boosted its stake in shares of Cantel Medical Corp. by 1.4% in the first quarter. State Street Corp now owns 698,437 shares of the company’s stock valued at $49,838,000 after buying an additional 9,417 shares in the last quarter. Cypress Wealth Advisors LLC acquired a new stake in shares of Cantel Medical Corp. during the first quarter valued at $210,000. Finally, Zebra Capital Management LLC boosted its stake in shares of Cantel Medical Corp. by 20.2% in the first quarter. Zebra Capital Management LLC now owns 13,431 shares of the company’s stock valued at $958,000 after buying an additional 2,254 shares in the last quarter. Institutional investors own 81.61% of the company’s stock.
The firm has a market cap of $3.23 billion, a P/E ratio of 57.14 and a beta of 1.66. The firm has a 50 day moving average of $76.08 and a 200 day moving average of $70.66.
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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