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Needham & Company Reiterates a 'Buy' on Cantel Medical (CMN); Continues To Top Expectations

June 8, 2012 7:37 AM EDT Send to a Friend
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Price: $35.28 -3.71%

Rating Summary:
    2 Buy, 1 Hold, 0 Sell

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Today's Overall Ratings:
    Up: 13 | Down: 24 | New: 21
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Needham & Company reiterates a 'Buy' on Cantel Medical (NYSE: CMN) price target of $28.00 (from $26.00).

Analyst, Dalton Chandler, said, "CMN continues to top our expectations on the strength of its acquisitions and cost controls. Byrne Medical, acquired in August of last year in the largest deal by dollar volume CMN has done, rerformed exceptionally well with revenue up 28% Y/Y. The cost control initiatives implemented by management over the last couple of years are beginning to pay off in expanding margins, particularly the gross margin, which is also helped by the efficiency of the acquisition integrations."

Needham raises FY12 EPS estimate from $1.10 to $1.15 and FY13 from $1.37 to $1.39.

For an analyst ratings summary and ratings history on Cantel Medical click here. For more ratings news on Cantel Medical click here.

Shares of Cantel Medical closed at $24.80 yesterday.




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