ProShares UltraShort DJ-UBS Commodity (NYSEARCA:CMD) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Wednesday. The firm presently has a $124.00 target price on the medical instruments supplier’s stock. Zacks Investment Research‘s target price suggests a potential upside of 54.67% from the stock’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 issued reports on the company. Raymond James Financial raised ProShares UltraShort DJ-UBS Commodity from a “market perform” rating to an “outperform” rating and set a $115.00 price objective for the company in a research report on Wednesday, January 3rd. Needham & Company LLC reissued a “hold” rating on shares of ProShares UltraShort DJ-UBS Commodity in a research report on Thursday, December 7th.
ProShares UltraShort DJ-UBS Commodity (NYSEARCA:CMD) last released 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 firm had revenue of $212.80 million during the quarter, compared to analysts’ expectations of $207.72 million. ProShares UltraShort DJ-UBS Commodity had a return on equity of 16.70% and a net margin of 9.02%. The business’s revenue for the quarter was up 13.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.51 earnings per share.
In other ProShares UltraShort DJ-UBS Commodity news, Chairman Charles M. Diker sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, January 16th. The stock was sold at an average price of $110.96, for a total transaction of $1,109,600.00. Following the transaction, the chairman now directly owns 3,036,978 shares in the company, valued at $336,983,078.88. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Chairman Charles M. Diker sold 12,000 shares of the firm’s stock in a transaction dated Tuesday, December 19th. The shares were sold at an average price of $100.53, for a total value of $1,206,360.00. Following the transaction, the chairman now owns 3,078,256 shares in the company, valued at $309,457,075.68. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 71,956 shares of company stock worth $7,466,435. Corporate 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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