Brokerages forecast that CONMED Co. (NASDAQ:CNMD) will announce earnings per share of $0.73 for the current fiscal quarter, according to Zacks. Three analysts have issued estimates for CONMED’s earnings, with the highest EPS estimate coming in at $0.74 and the lowest estimate coming in at $0.72. CONMED reported earnings per share of $0.69 in the same quarter last year, which would indicate a positive year-over-year growth rate of 5.8%. The company is expected to announce its next quarterly earnings results on Wednesday, January 30th.
On average, analysts expect that CONMED will report full year earnings of $2.17 per share for the current financial year, with EPS estimates ranging from $2.15 to $2.18. For the next fiscal year, analysts expect that the firm will post earnings of $2.42 per share, with EPS estimates ranging from $2.40 to $2.44. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side research firms that that provide coverage for CONMED.
CONMED (NASDAQ:CNMD) last issued its quarterly earnings results on Thursday, November 1st. The medical technology company reported $0.46 EPS for the quarter, topping analysts’ consensus estimates of $0.45 by $0.01. The business had revenue of $202.30 million during the quarter, compared to analysts’ expectations of $198.51 million. CONMED had a return on equity of 9.51% and a net margin of 8.56%. The business’s quarterly revenue was up 6.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.42 earnings per share.
A number of analysts have commented on CNMD shares. Leerink Swann upped their price target on CONMED from $76.00 to $81.00 and gave the stock a “market perform” rating in a research report on Thursday, August 30th. BidaskClub cut CONMED from a “strong-buy” rating to a “buy” rating in a research report on Thursday, September 20th. Zacks Investment Research upgraded CONMED from a “sell” rating to a “hold” rating in a research report on Tuesday, September 25th. Barclays set a $78.00 price target on CONMED and gave the stock an “equal weight” rating in a research report on Tuesday, October 16th. Finally, Needham & Company LLC upped their price target on CONMED from $73.00 to $83.00 and gave the stock a “buy” rating in a research report on Thursday, August 2nd. One analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the stock. CONMED presently has an average rating of “Hold” and a consensus price target of $81.50.
In other news, VP Stanley W. Peters III sold 1,500 shares of the company’s stock in a transaction dated Friday, September 14th. The stock was sold at an average price of $80.43, for a total value of $120,645.00. Following the completion of the transaction, the vice president now owns 1,496 shares of the company’s stock, valued at $120,323.28. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Peter K. Shagory sold 2,500 shares of the company’s stock in a transaction dated Friday, August 31st. The stock was sold at an average price of $80.00, for a total value of $200,000.00. Following the completion of the transaction, the executive vice president now directly owns 3,655 shares of the company’s stock, valued at approximately $292,400. The disclosure for this sale can be found here. Corporate insiders own 3.13% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Robeco Institutional Asset Management B.V. bought a new position in shares of CONMED in the second quarter worth about $154,000. Itau Unibanco Holding S.A. bought a new position in shares of CONMED in the second quarter worth about $165,000. Harvest Fund Management Co. Ltd bought a new position in CONMED during the third quarter valued at approximately $168,000. Hartford Investment Management Co. bought a new position in CONMED during the second quarter valued at approximately $203,000. Finally, Fruth Investment Management bought a new position in CONMED during the third quarter valued at approximately $208,000. 95.85% of the stock is owned by hedge funds and other institutional investors.
Shares of CNMD opened at $67.24 on Friday. The company has a debt-to-equity ratio of 0.68, a current ratio of 2.20 and a quick ratio of 1.27. The stock has a market capitalization of $1.90 billion, a price-to-earnings ratio of 31.58, a P/E/G ratio of 2.71 and a beta of 0.68. CONMED has a 52 week low of $49.22 and a 52 week high of $83.49.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, January 7th. Stockholders of record on Friday, December 14th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.19%. The ex-dividend date is Thursday, December 13th. CONMED’s dividend payout ratio (DPR) is 42.33%.
CONMED Corporation, a medical technology company, develops, manufactures, and sells surgical devices and related equipment for minimally invasive procedures in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company offers orthopedic surgery products, including sports medicine products comprising powered resection instruments, arthroscopes, reconstructive systems, tissue repair sets, and metal and bioabsorbable implants, as well as related disposable products and fluid management systems; powered surgical instruments for use in bone orthopedic, arthroscopic, oral/maxillofacial, podiatric, plastic, ENT, neurological, spinal, and cardiothoracic surgeries; sports biologics and tissue products; and surgical visualization products.
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