Equities analysts expect that CONMED Co. (NASDAQ:CNMD) will post sales of $229.20 million for the current fiscal quarter, according to Zacks. Three analysts have made estimates for CONMED’s earnings. The lowest sales estimate is $227.80 million and the highest is $230.31 million. CONMED reported sales of $222.56 million in the same quarter last year, which indicates a positive year-over-year growth rate of 3%. The business is scheduled to issue its next earnings results after the market closes on Tuesday, January 22nd.
According to Zacks, analysts expect that CONMED will report full year sales of $846.40 million for the current financial year, with estimates ranging from $845.00 million to $847.50 million. For the next financial year, analysts anticipate that the business will post sales of $890.61 million, with estimates ranging from $888.60 million to $893.03 million. Zacks’ sales averages are an average based on a survey of sell-side research firms that cover CONMED.
CONMED (NASDAQ:CNMD) last released its quarterly earnings results on Thursday, November 1st. The medical technology company reported $0.46 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.45 by $0.01. CONMED had a return on equity of 9.51% and a net margin of 8.56%. The firm had revenue of $202.30 million for the quarter, compared to the consensus estimate of $198.51 million. During the same quarter last year, the business posted $0.42 EPS. The company’s revenue for the quarter was up 6.4% on a year-over-year basis.
CNMD has been the topic of several recent research reports. BidaskClub downgraded CONMED from a “strong-buy” rating to a “buy” rating in a research note on Thursday, September 20th. Barclays set a $78.00 target price on CONMED and gave the company an “equal weight” rating in a research report on Tuesday, October 16th. Finally, Zacks Investment Research raised CONMED from a “sell” rating to a “hold” rating in a research report on Wednesday, October 3rd. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $81.50.
In other CONMED news, EVP Heather L. Cohen purchased 900 shares of the stock in a transaction on Tuesday, November 6th. The shares were purchased at an average price of $68.60 per share, with a total value of $61,740.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.13% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Harvest Fund Management Co. Ltd acquired a new position in CONMED during the third quarter worth approximately $168,000. Itau Unibanco Holding S.A. bought a new stake in shares of CONMED during the second quarter worth approximately $165,000. Wendell David Associates Inc. bought a new stake in shares of CONMED during the third quarter worth approximately $208,000. Trexquant Investment LP bought a new stake in shares of CONMED during the third quarter worth approximately $229,000. Finally, Fruth Investment Management bought a new stake in shares of CONMED during the third quarter worth approximately $208,000. 95.80% of the stock is currently owned by hedge funds and other institutional investors.
Shares of CNMD traded down $0.11 during midday trading on Friday, hitting $64.24. The stock had a trading volume of 79,500 shares, compared to its average volume of 193,375. CONMED has a twelve month low of $55.23 and a twelve month high of $83.49. The company has a market capitalization of $1.79 billion, a price-to-earnings ratio of 33.99, a P/E/G ratio of 2.28 and a beta of 0.63. 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 firm also recently declared a quarterly dividend, which was paid on Monday, January 7th. Shareholders of record on Friday, December 14th were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.25%. The ex-dividend date of this dividend was Thursday, December 13th. CONMED’s dividend payout ratio (DPR) is presently 42.33%.
CONMED Company Profile
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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