Stock of the Day: Cantel Medical Corp. Sets 52-Week High; Strong Momentum for Holders

Stock of the Day: Cantel Medical Corp. Sets 52 Week High; Strong Momentum for Holders

The stock of Cantel Medical Corp. (NYSE:CMN) hit a new 52-week high and has $87.43 target or 7.00% above today’s $81.71 share price. The 6 months bullish chart indicates low risk for the $3.45 billion company. The 1-year high was reported on Nov, 25 by Barchart.com. If the $87.43 price target is reached, the company will be worth $241.50 million more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 45,659 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 company was initiated on Wednesday, August 24 by Needham. The firm has “Buy” rating by Benchmark given on Monday, August 29.

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 worsened, 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.
Teachers Advisors Inc, a New York-based fund reported 57,167 shares. Ranger Investment L P owns 389,180 shares or 1.65% of their US portfolio. Swiss National Bank & Trust last reported 61,950 shares in the company. Janney Montgomery Scott Ltd Company accumulated 13,245 shares or 0.01% of the stock. Amer Century Inc holds 0% of its portfolio in Cantel Medical Corp. (NYSE:CMN) for 31,724 shares. Bb&T Corporation last reported 0.01% of its portfolio in the stock. Aperio Grp Inc Lc last reported 0.01% of its portfolio in the stock. The Massachusetts-based Panagora Asset Management Inc has invested 0% in Cantel Medical Corp. (NYSE:CMN). Turner Invests L P holds 11,000 shares or 0.24% of its portfolio. Fmr Lc reported 123,647 shares or 0% of all its holdings. Credit Suisse Ag holds 0.02% or 248,817 shares in its portfolio. California Employees Retirement Systems reported 90,700 shares or 0.01% of all its holdings. Van Eck Associate, a New York-based fund reported 9,966 shares. First Midwest National Bank Tru Division accumulated 0.17% or 20,412 shares. Blackrock Fund Advisors holds 0.04% or 2.41M shares in its portfolio.

Insider Transactions: Since June 10, 2016, the stock had 0 insider buys, and 6 sales for $2.64 million net activity. DIKER CHARLES M also sold $1.17 million worth of Cantel Medical Corp. (NYSE:CMN) shares. 2,574 shares were sold by NODIFF ERIC W, worth $187,823. 1,453 shares were sold by BERMAN ANN E, worth $112,698. Diker Mark N. sold $513,111 worth of stock or 7,000 shares. On Monday, October 10 ANAYA STEVEN C sold $423,877 worth of the stock or 5,500 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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