Equities research analysts expect CONMED Co. (NYSE:CNMD) to report earnings per share (EPS) of $0.43 for the current fiscal quarter, according to Zacks Investment Research. Five analysts have provided estimates for CONMED’s earnings, with estimates ranging from $0.43 to $0.44. CONMED reported earnings per share of $0.51 during the same quarter last year, which indicates a negative year over year growth rate of 15.7%. The company is expected to issue its next earnings report on Wednesday, May 5th.
On average, analysts expect that CONMED will report full year earnings of $2.95 per share for the current fiscal year, with EPS estimates ranging from $2.94 to $2.96. For the next financial year, analysts forecast that the firm will report earnings of $3.63 per share, with EPS estimates ranging from $3.54 to $3.69. Zacks’ EPS calculations are an average based on a survey of sell-side research firms that that provide coverage for CONMED.
CONMED (NYSE:CNMD) last released its earnings results on Tuesday, January 26th. The company reported $0.84 EPS for the quarter, beating the consensus estimate of $0.77 by $0.07. CONMED had a net margin of 0.04% and a return on equity of 9.48%. The business had revenue of $252.80 million during the quarter, compared to analyst estimates of $262.94 million. During the same period in the prior year, the business earned $0.90 earnings per share. The business’s quarterly revenue was down 4.6% on a year-over-year basis.
Separately, Piper Sandler increased their target price on shares of CONMED from $95.00 to $145.00 and gave the company an “overweight” rating in a research note on Thursday, January 28th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. CONMED presently has a consensus rating of “Buy” and a consensus price target of $96.67.
In other news, CEO Curt R. Hartman sold 596 shares of CONMED stock in a transaction on Friday, November 27th. The stock was sold at an average price of $105.01, for a total transaction of $62,585.96. Following the transaction, the chief executive officer now owns 240,051 shares in the company, valued at $25,207,755.51. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Curt R. Hartman sold 2,512 shares of CONMED stock in a transaction on Wednesday, November 25th. The shares were sold at an average price of $105.40, for a total value of $264,764.80. Following the transaction, the chief executive officer now owns 240,051 shares in the company, valued at approximately $25,301,375.40. The disclosure for this sale can be found here. Over the last three months, insiders have sold 58,483 shares of company stock worth $6,408,615. Company insiders own 5.39% of the company’s stock.
Several hedge funds have recently modified their holdings of CNMD. Steward Partners Investment Advisory LLC purchased a new position in shares of CONMED during the third quarter valued at $28,000. Dimension Capital Management LLC purchased a new position in shares of CONMED during the third quarter valued at $28,000. FIL Ltd grew its holdings in shares of CONMED by 108.3% during the fourth quarter. FIL Ltd now owns 250 shares of the company’s stock valued at $28,000 after buying an additional 130 shares in the last quarter. Inspire Advisors LLC purchased a new position in shares of CONMED during the fourth quarter valued at $28,000. Finally, Harbor Investment Advisory LLC grew its stake in CONMED by 104.6% in the third quarter. Harbor Investment Advisory LLC now owns 446 shares of the company’s stock valued at $35,000 after purchasing an additional 228 shares in the last quarter.
CNMD stock traded up $1.77 on Tuesday, hitting $125.25. 15,170 shares of the company’s stock traded hands, compared to its average volume of 279,777. CONMED has a 1-year low of $37.66 and a 1-year high of $124.68. The stock has a market cap of $3.58 billion, a price-to-earnings ratio of -3,131.25, a P/E/G ratio of 3.48 and a beta of 1.55. The stock has a fifty day moving average of $116.88 and a 200-day moving average of $103.02. The company has a current ratio of 2.26, a quick ratio of 1.24 and a debt-to-equity ratio of 1.11.
CONMED Corporation, a medical technology company, develops, manufactures, and sells surgical devices and related equipment for minimally invasive procedures worldwide. 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, spinal, and cardiothoracic surgeries; sports biologics and tissue products; and surgical visualization products.
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