Initiating Coverage of Cantel Medical With $85 Fair Value Estimate, Narrow Moat, and Stable Trend
We are initiating coverage of Cantel Medical Corp, a New Jersey-based medical equipment company, with narrow moat and stable trend ratings. Our estimate of fair value is roughly $85 per share, but we'd note the wide distribution implied by our high uncertainty rating.ÂWe believe Cantel's endoscopy and water purification segments, which account for nearly 75% of total revenue, are moat worthy and derive their competitive advantage from switching costs and valuable intangible assets. The firm's m...
Cantel Medical is a provider of infection prevention products and services in the healthcare market. The company has four segments: Medical, which designs, develops, manufactures, sells and installs products and services comprising a circle of infection prevention solutions; Life Sciences, which designs, develops, manufactures, sells, and installs water purification systems; Dental, which designs, manufactures, sells, supplies and distributes infection prevention healthcare products; and Dialysis, which designs, develops, manufactures, sells and services reprocessing systems and sterilants for dialyzers, as well as dialysate concentrates and supplies utilized for renal dialysis
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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