Carl Zeiss Meditec (OTCMKTS:CZMWY) Stock Falls 1% – What’s Next?

Shares of Carl Zeiss Meditec AG (OTCMKTS:CZMWY) were down 1% on Thursday. The stock traded as low as $34.88 and last traded at $34.9950. Approximately 2,659 shares were traded during mid-day trading, a decline of 20% from the average session volume of 3,322 shares. The stock had previously closed at $35.35.

Analysts Set New Price Targets

A number of equities analysts have commented on CZMWY shares. UBS Group cut shares of Carl Zeiss Meditec from a “neutral” rating to a “sell” rating in a research note on Tuesday, August 11th. Zacks Research downgraded Carl Zeiss Meditec from a “hold” rating to a “strong sell” rating in a research report on Tuesday, August 11th. Finally, Morgan Stanley assumed coverage on Carl Zeiss Meditec in a research report on Wednesday, September 2nd. They set an “underweight” rating on the stock. Two research analysts have rated the stock with a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, Carl Zeiss Meditec has an average rating of “Strong Sell”.

Carl Zeiss Meditec Price Performance

The company’s fifty day simple moving average is $35.63 and its 200 day simple moving average is $32.26.

Carl Zeiss Meditec Company Profile

Carl Zeiss Meditec AG is a Germany-based medical technology company focused on ophthalmology and microsurgery. The company develops, manufactures and distributes diagnostic and therapeutic systems, surgical equipment, implants and related digital solutions for healthcare professionals.

Its ophthalmic portfolio includes devices for eye examinations and diagnostics, laser systems for refractive and cataract procedures, surgical microscopes, intraocular lenses and other products used in cataract, retinal, glaucoma and corneal treatments.