Vanguard Group Inc. Takes $246.86 Million Position in Cantel Medical Corp. (CMD)
Vanguard Group Inc. bought a new position in Cantel Medical Corp. (NYSE:CMD) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 3,168,514 shares of the company’s stock, valued at approximately $246,860,000. Vanguard Group Inc. owned approximately 7.63% of Cantel Medical Corp. at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Northern Trust Corp bought a new stake in shares of Cantel Medical Corp. in the 2nd quarter worth approximately $62,346,000. Public Sector Pension investment Board purchased a new position in shares of Cantel Medical Corp. in the second quarter worth approximately $1,458,000. Citigroup Inc. purchased a new position in shares of Cantel Medical Corp. in the second quarter worth approximately $1,936,000. Pinebridge Investments L.P. purchased a new position in shares of Cantel Medical Corp. in the second quarter worth approximately $372,000. Finally, Van ECK Associates Corp purchased a new position in shares of Cantel Medical Corp. in the second quarter worth approximately $769,000. Institutional investors and hedge funds own 83.79% of the company’s stock.
Cantel Medical Corp. (NYSE:CMD) opened at 94.97 on Friday. The stock has a market capitalization of $3.94 billion, a P/E ratio of 55.54 and a beta of 1.25. Cantel Medical Corp. has a 52-week low of $68.19 and a 52-week high of $99.83. The stock has a 50 day moving average of $87.05 and a 200 day moving average of $78.37.
Cantel Medical Corp. (NYSE:CMD) last announced its quarterly earnings results on Thursday, September 28th. The company reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.52 by $0.02. The business had revenue of $205.50 million for the quarter, compared to the consensus estimate of $200.32 million. Cantel Medical Corp. had a net margin of 9.27% and a return on equity of 17.60%. The firm’s quarterly revenue was up 14.8% compared to the same quarter last year. On average, equities research analysts forecast that Cantel Medical Corp. will post $2.34 EPS for the current year.
In related news, Chairman Charles M. Diker sold 20,500 shares of the stock in a transaction that occurred on Wednesday, October 4th. The shares were sold at an average price of $99.15, for a total value of $2,032,575.00. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Mark N. Diker sold 7,000 shares of the stock in a transaction that occurred on Tuesday, October 3rd. The shares were sold at an average price of $98.90, for a total transaction of $692,300.00. The disclosure for this sale can be found here. Company insiders own 14.90% of the company’s stock.
CMD has been the topic of several analyst reports. Zacks Investment Research raised shares of Cantel Medical Corp. from a “hold” rating to a “buy” rating and set a $83.00 target price on the stock in a research report on Tuesday, August 1st. Sidoti raised shares of Cantel Medical Corp. from a “neutral” rating to a “buy” rating and set a $92.00 target price on the stock in a research report on Wednesday, August 2nd. Finally, Needham & Company LLC reissued a “hold” rating on shares of Cantel Medical Corp. in a research report on Friday, September 1st. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Cantel Medical Corp. presently has an average rating of “Hold” and a consensus price target of $91.67.
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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