Zacks Investment Research Lowers ProShares UltraShort DJ-UBS Commodity (CMD) to Hold

Zacks Investment Research lowered shares of ProShares UltraShort DJ-UBS Commodity (NYSEARCA:CMD) from a buy rating to a hold rating in a research report released on Wednesday morning.

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 research analysts also recently issued reports on the company. Raymond James Financial upgraded 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 note on Wednesday. Needham & Company LLC reiterated a hold rating on shares of ProShares UltraShort DJ-UBS Commodity in a research note on Thursday, December 7th.

ProShares UltraShort DJ-UBS Commodity (NYSEARCA CMD) opened at $80.17 on Wednesday. The company has a quick ratio of 1.36, a current ratio of 2.31 and a debt-to-equity ratio of 0.26. ProShares UltraShort DJ-UBS Commodity has a 12 month low of $37.21 and a 12 month 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, beating analysts’ consensus estimates of $0.54 by $0.03. The firm had revenue of $212.80 million during the quarter, compared to the consensus estimate 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 in the prior year, the company earned $0.51 EPS.

The company also recently declared a dividend, which will be paid on Wednesday, January 31st. Stockholders of record on Wednesday, January 17th will be paid a dividend of $0.085 per share. The ex-dividend date is Tuesday, January 16th.

In other news, EVP Seth M. Yellin sold 1,000 shares of the stock in a transaction on Saturday, December 29th. The stock was sold at an average price of $103.58, for a total transaction of $103,580.00. Following the completion of the transaction, the executive vice president now owns 22,856 shares in the company, valued at approximately $2,367,424.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director George L. Fotiades sold 5,700 shares of the stock in a transaction on Monday, December 18th. The stock was sold at an average price of $101.09, for a total value of $576,213.00. Following the transaction, the director now owns 94,366 shares of the company’s stock, valued at approximately $9,539,458.94. The disclosure for this sale can be found here. Insiders have sold a total of 47,700 shares of company stock valued at $4,829,533 in the last quarter. 14.90% of the stock is owned by corporate insiders.

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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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