Brokerages expect CONMED Co. (NASDAQ:CNMD) to report sales of $212.38 million for the current fiscal quarter, Zacks reports. Three analysts have made estimates for CONMED’s earnings. The highest sales estimate is $213.40 million and the lowest is $211.73 million. CONMED reported sales of $204.09 million in the same quarter last year, which would suggest a positive year over year growth rate of 4.1%. The business is expected to report its next quarterly earnings report on Wednesday, February 7th.
On average, analysts expect that CONMED will report full-year sales of $212.38 million for the current fiscal year, with estimates ranging from $785.70 million to $787.30 million. For the next year, analysts anticipate that the company will report sales of $808.56 million per share, with estimates ranging from $800.00 million to $817.32 million. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that follow CONMED.
CONMED (NASDAQ:CNMD) last issued its quarterly earnings data on Thursday, November 2nd. The medical technology company reported $0.42 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.41 by $0.01. The business had revenue of $190.10 million for the quarter, compared to analysts’ expectations of $187.13 million. CONMED had a return on equity of 4.93% and a net margin of 3.79%. The company’s revenue for the quarter was up 2.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.41 EPS.
CNMD has been the topic of several recent research reports. Needham & Company LLC restated a “buy” rating and set a $58.00 price target on shares of CONMED in a report on Friday, November 17th. KeyCorp restated a “hold” rating on shares of CONMED in a report on Friday, November 3rd. Piper Jaffray Companies restated a “hold” rating and set a $46.00 price target on shares of CONMED in a report on Friday, November 3rd. Zacks Investment Research upgraded CONMED from a “sell” rating to a “hold” rating in a report on Tuesday, October 31st. Finally, BidaskClub lowered CONMED from a “hold” rating to a “sell” rating in a report on Tuesday, December 12th. One analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $50.67.
Shares of CONMED (NASDAQ CNMD) opened at $49.78 on Wednesday. The stock has a market capitalization of $1,390.00, a P/E ratio of 28.86, a PEG ratio of 3.24 and a beta of 0.66. CONMED has a twelve month low of $39.74 and a twelve month high of $54.77. The company has a current ratio of 2.56, a quick ratio of 1.49 and a debt-to-equity ratio of 0.84.
The business also recently declared a quarterly dividend, which will be paid on Friday, January 5th. Investors of record on Friday, December 15th will be issued a dividend of $0.20 per share. The ex-dividend date is Thursday, December 14th. This represents a $0.80 annualized dividend and a yield of 1.61%. CONMED’s payout ratio is presently 145.45%.
In related news, EVP Luke A. Pomilio sold 29,363 shares of the stock in a transaction on Thursday, November 9th. The stock was sold at an average price of $50.70, for a total transaction of $1,488,704.10. Following the sale, the executive vice president now owns 45,486 shares in the company, valued at approximately $2,306,140.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Luke A. Pomilio sold 12,429 shares of the company’s stock in a transaction on Tuesday, November 7th. The shares were sold at an average price of $50.63, for a total value of $629,280.27. Following the completion of the transaction, the chief financial officer now directly owns 45,486 shares in the company, valued at approximately $2,302,956.18. The disclosure for this sale can be found here. Insiders have sold a total of 51,812 shares of company stock worth $2,654,756 in the last 90 days. 2.62% of the stock is currently owned by insiders.
A number of institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. grew its position in CONMED by 1.1% in the 2nd quarter. Vanguard Group Inc. now owns 2,294,366 shares of the medical technology company’s stock valued at $116,875,000 after acquiring an additional 25,484 shares during the last quarter. Victory Capital Management Inc. grew its position in CONMED by 5.4% in the 3rd quarter. Victory Capital Management Inc. now owns 2,180,586 shares of the medical technology company’s stock valued at $114,415,000 after acquiring an additional 111,096 shares during the last quarter. Cramer Rosenthal Mcglynn LLC grew its position in CONMED by 7.6% in the 2nd quarter. Cramer Rosenthal Mcglynn LLC now owns 1,067,844 shares of the medical technology company’s stock valued at $54,396,000 after acquiring an additional 75,055 shares during the last quarter. Macquarie Group Ltd. grew its position in CONMED by 13.9% in the 3rd quarter. Macquarie Group Ltd. now owns 731,957 shares of the medical technology company’s stock valued at $38,406,000 after acquiring an additional 89,078 shares during the last quarter. Finally, State Street Corp grew its position in CONMED by 3.4% in the 2nd quarter. State Street Corp now owns 701,058 shares of the medical technology company’s stock valued at $35,715,000 after acquiring an additional 22,919 shares during the last quarter. 99.02% of the stock is currently owned by institutional investors.
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CONMED Corporation is a medical technology company. The Company is engaged in the development, manufacturing and sale on a global basis of surgical devices and related equipment. The Company provides surgical devices and equipment for minimally invasive procedures. The Company’s products are used by surgeons and physicians in a range of specialties, including orthopedics, general surgery, gynecology, neurosurgery and gastroenterology.
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