Needham & Company Starts Cantel Medical (CMN) at Hold
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Needham & Company initiates coverage on Cantel Medical (NYSE: CMN) with a Hold rating.
Analyst Mike Matson commented,"CMN has become a leader in the $50B infection prevention and control market through a combination of strong growth (five-year sales CAGR of 16% and EPS CAGR of 17%) and savvy M&A deals (28 since 2000). CMN’s revenue growth is being driven by Endoscopy, but we think Endoscopy could slow in FY17 as its laps a competitor's recall and faces difficult comps. We expect acquisitions to provide CMN with additional growth and upside to consensus. But while we think consensus estimates are conservative, we think CMN’s premium valuation already discounts potential upside, and we initiate coverage at Hold."
Shares of Cantel Medical closed at $73.28 yesterday.
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