Price Action to Note: Can Cantel Medical Corp.’s Tomorrow be Different? The Stock Just Broke Its High

Price Action to Note: Can Cantel Medical Corp.'s Tomorrow be Different? The Stock Just Broke Its High

The stock of Cantel Medical Corp. (NYSE:CMN) reached all time high today, Nov, 25 and still has $89.24 target or 9.00% above today’s $81.87 share price. This indicates more upside for the $3.46B company. This technical setup was reported by Barchart.com. If the $89.24 PT is reached, the company will be worth $311.40M more.
Trading stocks at an all time highs is usually a winning strategy. An all time high points to a stock which has the most positive fundamentals ever. Even thought the pullback rate is high, if correct risk management is utilized, investors can trade very well such events. The stock increased 0.84% or $0.68 during the last trading session, hitting $81.87. About 74,132 shares traded hands. Cantel Medical Corp. (NYSE:CMN) has risen 17.36% since April 22, 2016 and is uptrending. It has outperformed by 11.95% the S&P500.

Analysts await Cantel Medical Corp. (NYSE:CMN) to report earnings on December, 8 before the open.

Cantel Medical Corp. (NYSE:CMN) Ratings Coverage

Out of 2 analysts covering Cantel Medical (NYSE:CMN), 1 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 50% are positive. Cantel Medical has been the topic of 2 analyst reports since August 24, 2016 according to StockzIntelligence Inc. The stock of Cantel Medical Corp. (NYSE:CMN) earned “Buy” rating by Benchmark on Monday, August 29. The firm has “Hold” rating given on Wednesday, August 24 by Needham.

According to Zacks Investment Research, “Cantel Medical Corp. is a healthcare company concentrating primarily in infection prevention and control products and diagnostic and therapeutic medical equipment. Through its United States subsidiary, MediVators, Inc., Cantel serves customers worldwide by designing, developing, manufacturing, marketing and distributing innovative products for the infection prevention and control industry.”

Insitutional Activity: The institutional sentiment decreased to 0.95 in Q2 2016. Its down 0.36, from 1.31 in 2016Q1. The ratio turned negative, as 20 funds sold all Cantel Medical Corp. shares owned while 65 reduced positions. 32 funds bought stakes while 79 increased positions. They now own 32.47 million shares or 5.14% less from 34.23 million shares in 2016Q1.
Stevens Mngmt L P has invested 0.02% of its portfolio in Cantel Medical Corp. (NYSE:CMN). Brown Mngmt Ltd Liability Corporation last reported 4.27 million shares in the company. Matarin Cap Mngmt Limited Liability Corp holds 0% or 4,381 shares in its portfolio. Van Eck Associate accumulated 9,966 shares or 0% of the stock. Us Bancshares De has 0% invested in the company for 1,150 shares. The Massachusetts-based Numeric Investors has invested 0% in Cantel Medical Corp. (NYSE:CMN). Ubs Asset Mngmt Americas Incorporated holds 0% or 23,099 shares in its portfolio. State Board Of Administration Of Florida Retirement Sys accumulated 24,176 shares or 0.01% of the stock. Walleye Trading Ltd Llc holds 0% of its portfolio in Cantel Medical Corp. (NYSE:CMN) for 733 shares. The Connecticut-based Cubist Systematic Strategies Ltd Llc has invested 0.02% in Cantel Medical Corp. (NYSE:CMN). King Luther Cap Mgmt last reported 0.14% of its portfolio in the stock. 1St Advsr accumulated 0.08% or 7,967 shares. Wall Street Access Asset Mgmt Limited Liability Company has invested 0.15% of its portfolio in Cantel Medical Corp. (NYSE:CMN). State Teachers Retirement Systems has 42,924 shares for 0.01% of their US portfolio. Gotham Asset Mgmt Ltd accumulated 0.01% or 7,321 shares.

Insider Transactions: Since June 10, 2016, the stock had 0 insider purchases, and 6 selling transactions for $2.64 million net activity. 7,000 Cantel Medical Corp. (NYSE:CMN) shares with value of $513,111 were sold by Diker Mark N.. 3,000 shares were sold by DIKER CHARLES M, worth $226,841. 2,574 shares were sold by NODIFF ERIC W, worth $187,823. ANAYA STEVEN C had sold 5,500 shares worth $423,877. BERMAN ANN E also sold $112,698 worth of Cantel Medical Corp. (NYSE:CMN) shares.

More notable recent Cantel Medical Corp. (NYSE:CMN) news were published by: Marketwatch.com which released: “Cantel Medical Corp initiated at buy rating, $83 price target at Benchmark” on December 21, 2009, also Prnewswire.com with their article: “Cantel Medical to Present at the Stifel 2016 Healthcare Conference” published on November 01, 2016, Prnewswire.com published: “Cantel Medical Acquires Accutron, Inc.” on August 01, 2016. More interesting news about Cantel Medical Corp. (NYSE:CMN) were released by: Prnewswire.com and their article: “Cantel Medical Expands its Direct Sales Operations in Canada through the …” published on September 26, 2016 as well as Prnewswire.com‘s news article titled: “Cantel Medical Announces 17% Increase In Semiannual Dividend And New Stock Symbol” with publication date: October 14, 2016.

CMN Company Profile

Cantel Medical Corp., incorporated on August 16, 1963, is a well-known provider of infection prevention services and products in the healthcare market. The Company’s operating divisions include Endoscopy; Water Purification and Filtration; Healthcare Disposables, and Dialysis. The Company’s Endoscopy segment includes medical device reprocessing systems, disinfectants, detergents and other supplies. The Company’s Water Purification and Filtration segment includes water purification equipment and services, filtration and separation products, and disinfectant, sterilization and decontamination services and products. The Company’s Healthcare Disposables segment includes single-use, infection prevention and control healthcare products. The Company’s Dialysis segment includes medical device reprocessing systems, sterilants/disinfectants, dialysate concentrates and other supplies for renal dialysis.

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