Needham & Company Maintains a 'Buy' on Cantel Medical (CMN); Company’s Organic Growth Continues to Exceed Market Growth
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Price: $81.14 +0.77%
Rating Summary:
3 Buy, 2 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
3 Buy, 2 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Needham & Company maintains a 'Buy' on Cantel Medical (NYSE: CMN) price target of $32.00.
Needham analyst says, "All three of the key reporting segments representing more than 85% of total revenue exceeded our revenue estimates. This was also the first quarter to include the results of Byrne Medical, CMN’s largest (by price) acquisition to date. Byrne also exceeded our expectations in terms of revenue and gross margin. Although we are raising our revenue estimates and gross margin assumptions, our EPS estimates are down a bit on slightly higher operating expense, higher tax rates and the inclusion of interest expense on new debt related to the Byrne acquisition."
"We have raised our revenue forecast and gross margin assumptions based on the strong results of the quarter. However, our EPS estimates come down a bit on the aforementioned operating expense, tax rate and interest expense assumptions." (FY12 revs go from $380.2 mln to $388.6 mln & EPS get cut from $1.74 to $1.54. FY13 revs upped from $402.8 mln to $414.5 mln, but EPS lowered from $2.10 to $1.70)
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 $26.83 yesterday.
Needham analyst says, "All three of the key reporting segments representing more than 85% of total revenue exceeded our revenue estimates. This was also the first quarter to include the results of Byrne Medical, CMN’s largest (by price) acquisition to date. Byrne also exceeded our expectations in terms of revenue and gross margin. Although we are raising our revenue estimates and gross margin assumptions, our EPS estimates are down a bit on slightly higher operating expense, higher tax rates and the inclusion of interest expense on new debt related to the Byrne acquisition."
"We have raised our revenue forecast and gross margin assumptions based on the strong results of the quarter. However, our EPS estimates come down a bit on the aforementioned operating expense, tax rate and interest expense assumptions." (FY12 revs go from $380.2 mln to $388.6 mln & EPS get cut from $1.74 to $1.54. FY13 revs upped from $402.8 mln to $414.5 mln, but EPS lowered from $2.10 to $1.70)
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 $26.83 yesterday.
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