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Crocs Inc. (CROX) is set to replace Cantel Medical Corp. (CMD) in the S&P MidCap 400, effective June 2, 2021. Concurrently, Organogenesis Holdings Inc. (ORGO) will take Crocs' place in the S&P SmallCap 600. This change is part of an acquisition by STERIS plc of Cantel Medical, which is anticipated to conclude soon pending final conditions. This move reflects Crocs' growing presence in the market and the dynamics of index composition.
Mar Cor Purification, a subsidiary of Cantel Medical (CMD), has launched the EON™ Portable Dialysis Water System, designed to provide high-quality medical-grade water for hemodialysis. This system employs reverse osmosis to eliminate contaminants and features innovative Heat Forward™ Technology for efficient disinfection without chemicals. Additionally, the EON system is FDA 510(k) cleared, meets AAMI-grade water standards, and is suitable for various settings including hospitals and home care. The device enhances operational efficiency while reducing resource consumption, thus offering significant advancements over previous models.
Cantel Medical Corp. (NYSE: CMD) reported its second quarter financial results for 2021, achieving net sales of $294.0M, up 1.9% year-over-year. Despite the pandemic's ongoing impact on elective procedures, GAAP earnings per diluted share rose to $0.27, compared to a loss of $(0.05) a year prior. Non-GAAP EPS increased by 29.5% to $0.79, driven by strong demand in dental and medical segments. The company has reduced its debt by $175.0M and ended the quarter with $243.1M in cash and gross debt of $988.4M, indicating solid financial health amidst challenges.
Cantel Medical Corp. (NYSE:CMD) will announce its second-quarter results on March 9, 2021, before market opening. A conference call is scheduled for 8:30 a.m. ET to discuss these results. Participants can join by calling 1-888-506-0062 (US & Canada) or 1-973-528-0011 (International) around 5-10 minutes prior. A digital replay will be available from March 9 to April 9, 2021. The company focuses on innovative infection prevention products across healthcare sectors, enhancing safety and patient outcomes.
Cantel Medical Corp. (NYSE: CMD) reported a robust first quarter for fiscal 2021, ending October 31, 2020. Net sales reached $297.0M, reflecting a 15.5% increase year-over-year, bolstered by acquisitions but offset by a 1.8% organic decline due to COVID-19's impact on elective procedures. GAAP earnings per diluted share surged 307.1% to $0.57, while non-GAAP EPS rose 38.5% to $0.90. The company achieved $125.0M in debt reduction and reported a strong cash position of $258.0M, despite challenges in its Medical segment. CEO George Fotiades noted effective infection prevention protocols driving improved margins.
Cantel Medical Corp (NYSE: CMD) has partnered with Censis Technologies to develop a new integrated software solution combining Cantel's CANEXIS™ with CensiTrac® for enhanced endoscope reprocessing and instrument tracking. This collaboration aims to bolster infection prevention and patient safety by streamlining workflows in healthcare facilities. Each year, healthcare-associated infections cost the U.S. health system between $96 billion to $147 billion. The partnership is expected to enhance operational efficiency and provide significant support for hospitals in managing critical medical devices.
Cantel Medical Corp (NYSE:CMD) announced key leadership changes on December 3, 2020, appointing Andy Xilas as President of Cantel Dental, effective January 1, 2021, succeeding Ken Serota. Additionally, Jennifer Naylor has been named Senior Vice President of Infection Prevention and Control Strategy and Education. Both leaders, integral to the 2019 acquisition of Hu-Friedy, bring extensive experience to enhance Cantel’s growth in infection prevention. CEO George Fotiades praised Ken Serota's contributions, emphasizing the importance of leadership continuity amidst pandemic challenges.
Cantel Medical Corp (NYSE:CMD) will announce its first-quarter results on December 8, 2020, prior to market opening, covering the period ending October 31, 2020. A conference call will follow at 8:30 a.m. ET to discuss the financial outcomes. Participants can join by dialing 1-844-602-0380 for US and Canada, or 1-862-298-0970 for international calls. A replay will be available post-call until January 7, 2021. Cantel Medical specializes in infection prevention products aimed at improving healthcare outcomes.
Cantel Medical Corp. (NYSE: CMD) has projected its first fiscal quarter revenue, estimating between $290 and $295 million, marking a 25% sequential increase and a 14% reported growth compared to the previous year. However, there is a 3% organic sales decline. CEO George Fotiades expressed optimism about strong performances in their Medical and Dental segments, particularly in infection prevention products. A further financial update is expected on December 8, 2020.
HuFriedyGroup, a division of Cantel Medical Corp. (NYSE: CMD), has launched the Harmony Ergonomic Scalers and Curettes featuring TrueFit Technology. Designed to improve the ergonomic experience for dental clinicians, the new scalers reduce pinch force by up to 65% and pressure against teeth by 37% compared to leading competitors. The scalers, with 72% sharper edges, aim to enhance patient comfort and decrease clinician fatigue. Available in the U.S., these instruments feature a durable handle with an optimal grip and 30 unique working end options.
