ProShares UltraShort DJ-UBS Commodity (CMD) Rating Increased to Buy at Zacks Investment Research

ProShares UltraShort DJ-UBS Commodity (NYSEARCA:CMD) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Thursday. The firm currently has a $115.00 price target on the medical instruments supplier’s stock. Zacks Investment Research‘s price objective indicates a potential upside of 43.45% from the company’s current price.

According to Zacks, “Cantel Medical Corporation is a global company dedicated to delivering innovative infection prevention products and services for patients, caregivers, and other healthcare providers, which improve outcomes and help save lives. Through an expansive portfolio of endoscopy, water purification and filtration, and healthcare disposables, Cantel Medical provides high-quality infection prevention solutions and unsurpassed service, touching millions of patients each year around the world. Cantel Medical is a leading provider of infection prevention products and services in the healthcare market. Cantel Medical specializing in the Endoscopy procedure disposables includes single-use valves and irrigation tubing. Medical device reprocessing systems, disinfectants, detergents and other supplies are used to disinfect high-level endoscopes. “

A number of other analysts have also recently weighed in on the stock. Raymond James Financial reaffirmed a “hold” rating on shares of ProShares UltraShort DJ-UBS Commodity in a research note on Monday, December 4th. Needham & Company LLC reaffirmed a “hold” rating on shares of ProShares UltraShort DJ-UBS Commodity in a research note on Thursday, December 7th.

Shares of ProShares UltraShort DJ-UBS Commodity (NYSEARCA:CMD) traded up $0.51 during trading hours on Thursday, reaching $80.17. The company has a current ratio of 2.31, a quick ratio of 1.36 and a debt-to-equity ratio of 0.26. ProShares UltraShort DJ-UBS Commodity has a 52 week low of $37.21 and a 52 week high of $86.30.

ProShares UltraShort DJ-UBS Commodity (NYSEARCA:CMD) last announced its quarterly earnings data on Thursday, December 7th. The medical instruments supplier reported $0.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.54 by $0.03. The business had revenue of $212.80 million for the quarter, compared to analysts’ expectations of $207.72 million. ProShares UltraShort DJ-UBS Commodity had a net margin of 9.02% and a return on equity of 16.70%. The firm’s quarterly revenue was up 13.4% compared to the same quarter last year. During the same period last year, the firm posted $0.51 earnings per share.

In other news, EVP Seth M. Yellin sold 1,000 shares of ProShares UltraShort DJ-UBS Commodity stock in a transaction on Saturday, December 29th. The shares were sold at an average price of $103.58, for a total transaction of $103,580.00. Following the transaction, the executive vice president now owns 22,856 shares in the company, valued at $2,367,424.48. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Chairman Charles M. Diker sold 18,000 shares of ProShares UltraShort DJ-UBS Commodity stock in a transaction on Wednesday, December 27th. The stock was sold at an average price of $101.60, for a total transaction of $1,828,800.00. Following the transaction, the chairman now owns 3,066,256 shares in the company, valued at approximately $311,531,609.60. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 47,700 shares of company stock worth $4,829,533. Insiders own 14.90% of the company’s stock.

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About ProShares UltraShort DJ-UBS Commodity

ProShares UltraShort DJ-UBS Commodity (the Fund), formerly ProShares UltraShort DJ-AIG Commodity is an exchange-traded fund (ETF). The Fund seeks daily investment results that correspond to twice (200%) the inverse (opposite) of the daily performance of The Dow Jones-UBS Commodity Index. The Dow Jones-UBS Commodity Index allows investors to track the commodity futures market.

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