ProShares UltraShort DJ-UBS Commodity (NYSEARCA:CMD) was upgraded by analysts at Raymond James Financial from a “market perform” rating to an “outperform” rating in a research report issued on Wednesday. The brokerage presently has a $115.00 price objective on the medical instruments supplier’s stock. Raymond James Financial’s price objective points to a potential upside of 43.45% from the stock’s previous close.
A number of other equities research analysts also recently issued reports on CMD. Needham & Company LLC reiterated a “hold” rating on shares of ProShares UltraShort DJ-UBS Commodity in a research note on Thursday, December 7th. Zacks Investment Research upgraded shares of ProShares UltraShort DJ-UBS Commodity from a “hold” rating to a “buy” rating and set a $111.00 price objective on the stock in a research note on Monday, December 11th.
ProShares UltraShort DJ-UBS Commodity (NYSEARCA:CMD) opened at $80.17 on Wednesday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.36 and a current ratio of 2.31. ProShares UltraShort DJ-UBS Commodity has a one year low of $37.21 and a one year high of $86.30.
ProShares UltraShort DJ-UBS Commodity (NYSEARCA:CMD) last announced its quarterly earnings data on Thursday, December 7th. The medical instruments supplier reported $0.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.54 by $0.03. The firm had revenue of $212.80 million for the quarter, compared to the consensus estimate of $207.72 million. ProShares UltraShort DJ-UBS Commodity had a net margin of 9.02% and a return on equity of 16.70%. The business’s revenue for the quarter was up 13.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.51 earnings per share.
In other news, insider Seth M. Yellin sold 1,000 shares of the firm’s stock in a transaction that occurred on Friday, December 29th. The shares were sold at an average price of $103.58, for a total value of $103,580.00. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Chairman Charles M. Diker sold 18,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 27th. The shares were sold at an average price of $101.60, for a total transaction of $1,828,800.00. Following the completion of the sale, the chairman now owns 3,066,256 shares in the company, valued at $311,531,609.60. The disclosure for this sale can be found here. Insiders have sold 47,700 shares of company stock worth $4,829,533 over the last quarter. 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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