ProShares UltraShort DJ-UBS Commodity (CMD) Rating Increased to Buy at Zacks Investment Research

ProShares UltraShort DJ-UBS Commodity (NYSEARCA:CMD) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Monday. The firm currently has a $130.00 target price on the medical instruments supplier’s stock. Zacks Investment Research‘s price objective would indicate a potential upside of 11.94% from the company’s current price.

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. “

CMD has been the subject of a number of other reports. Needham & Company LLC restated a “hold” rating on shares of ProShares UltraShort DJ-UBS Commodity in a research report on Thursday, December 7th. Raymond James Financial upgraded ProShares UltraShort DJ-UBS Commodity from a “market perform” rating to an “outperform” rating and set a $115.00 price target for the company in a research report on Wednesday, January 3rd.

Shares of ProShares UltraShort DJ-UBS Commodity (NYSEARCA CMD) traded up $0.33 during trading on Monday, hitting $116.13. The company’s stock had a trading volume of 228,862 shares, compared to its average volume of 140,101. ProShares UltraShort DJ-UBS Commodity has a fifty-two week low of $69.21 and a fifty-two week high of $123.60. 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 (NYSEARCA:CMD) last announced its earnings results on Thursday, December 7th. The medical instruments supplier reported $0.57 EPS for the quarter, beating analysts’ consensus estimates of $0.54 by $0.03. ProShares UltraShort DJ-UBS Commodity had a return on equity of 16.70% and a net margin of 9.02%. The business had revenue of $212.80 million during the quarter, compared to analysts’ expectations of $207.72 million. During the same quarter in the prior year, the firm earned $0.51 earnings per share. The business’s revenue was up 13.4% compared to the same quarter last year.

In related news, Director Mark N. Diker sold 5,000 shares of the stock in a transaction that occurred on Thursday, January 18th. The stock was sold at an average price of $111.77, for a total value of $558,850.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Seth M. Yellin sold 1,000 shares of the stock in a transaction that occurred on Friday, December 29th. The stock was sold at an average price of $103.58, for a total value of $103,580.00. The disclosure for this sale can be found here. Insiders sold 77,956 shares of company stock valued at $8,137,495 over the last 90 days. Company insiders own 14.90% of the company’s stock.

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ProShares UltraShort DJ-UBS Commodity Company Profile

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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