Carl Zeiss Meditec (OTCMKTS:CZMWY) Stock Falls 1% – Time to Sell?

Carl Zeiss Meditec AG (OTCMKTS:CZMWY) dropped 1% during mid-day trading on Thursday. The company traded as low as $34.88 and last traded at $34.9950. Approximately 2,659 shares traded hands during trading, a decline of 20% from the average session volume of 3,322 shares. The stock had previously closed at $35.35.

Analysts Set New Price Targets

CZMWY has been the topic of several recent research reports. Morgan Stanley began coverage on shares of Carl Zeiss Meditec in a research note on Wednesday, September 2nd. They issued an “underweight” rating on the stock. UBS Group cut Carl Zeiss Meditec from a “neutral” rating to a “sell” rating in a research note on Tuesday, August 11th. Finally, Zacks Research downgraded Carl Zeiss Meditec from a “hold” rating to a “strong sell” rating in a report on Tuesday, August 11th. Two equities research analysts have rated the stock with a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Strong Sell”.

Carl Zeiss Meditec Price Performance

The business’s 50 day moving average is $35.55 and its 200 day moving average is $32.24.

About Carl Zeiss Meditec

Carl Zeiss Meditec AG is a Germany-based medical technology company focused on ophthalmology and microsurgery. The company develops, manufactures and distributes diagnostic and therapeutic systems, surgical equipment, implants and related digital solutions for healthcare professionals.

Its ophthalmic portfolio includes devices for eye examinations and diagnostics, laser systems for refractive and cataract procedures, surgical microscopes, intraocular lenses and other products used in cataract, retinal, glaucoma and corneal treatments.