Wall Street analysts expect CONMED Co. (NASDAQ:CNMD) to report earnings of $0.56 per share for the current quarter, according to Zacks Investment Research. Four analysts have made estimates for CONMED’s earnings, with the highest EPS estimate coming in at $0.58 and the lowest estimate coming in at $0.54. CONMED reported earnings of $0.46 per share in the same quarter last year, which indicates a positive year over year growth rate of 21.7%. The business is expected to report its next quarterly earnings results on Thursday, November 7th.
On average, analysts expect that CONMED will report full year earnings of $2.55 per share for the current fiscal year, with EPS estimates ranging from $2.54 to $2.55. For the next fiscal year, analysts forecast that the company will report earnings of $2.98 per share, with EPS estimates ranging from $2.90 to $3.04. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research analysts that follow CONMED.
CONMED (NASDAQ:CNMD) last issued its quarterly earnings results on Wednesday, July 31st. The medical technology company reported $0.56 EPS for the quarter, topping analysts’ consensus estimates of $0.53 by $0.03. CONMED had a return on equity of 9.95% and a net margin of 3.13%. The company had revenue of $238.26 million during the quarter, compared to analyst estimates of $233.06 million. During the same period in the previous year, the company earned $0.46 earnings per share. The company’s quarterly revenue was up 12.0% compared to the same quarter last year.
Several research firms have weighed in on CNMD. Zacks Investment Research raised CONMED from a “hold” rating to a “buy” rating and set a $98.00 target price on the stock in a research note on Friday, August 2nd. Stifel Nicolaus raised their price target on CONMED from $97.00 to $99.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Barclays lifted their target price on CONMED from $96.00 to $105.00 and gave the stock an “overweight” rating in a research note on Thursday, August 1st. Finally, BidaskClub upgraded CONMED from a “hold” rating to a “buy” rating in a research note on Saturday, August 3rd. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $95.40.
Shares of CNMD stock traded up $0.90 during trading hours on Friday, hitting $95.02. 145,500 shares of the company’s stock were exchanged, compared to its average volume of 241,991. The stock’s 50-day moving average is $88.76 and its 200-day moving average is $81.92. The company has a debt-to-equity ratio of 1.14, a current ratio of 2.55 and a quick ratio of 1.44. The stock has a market cap of $2.66 billion, a price-to-earnings ratio of 43.59, a price-to-earnings-growth ratio of 2.49 and a beta of 0.59. CONMED has a 52 week low of $56.90 and a 52 week high of $96.99.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 7th. Shareholders of record on Friday, September 13th will be issued a $0.20 dividend. The ex-dividend date is Thursday, September 12th. This represents a $0.80 annualized dividend and a yield of 0.84%. CONMED’s dividend payout ratio is presently 36.70%.
In other news, Director Dirk Kuyper sold 8,970 shares of the business’s stock in a transaction on Friday, June 14th. The stock was sold at an average price of $83.00, for a total transaction of $744,510.00. Following the completion of the transaction, the director now owns 5,000 shares of the company’s stock, valued at approximately $415,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Daniel Jonas sold 2,909 shares of the business’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $92.10, for a total value of $267,918.90. Following the transaction, the executive vice president now directly owns 28,319 shares of the company’s stock, valued at approximately $2,608,179.90. The disclosure for this sale can be found here. Insiders sold a total of 33,372 shares of company stock valued at $2,920,843 over the last ninety days. Insiders own 4.38% of the company’s stock.
Institutional investors have recently bought and sold shares of the company. Altshuler Shaham Ltd acquired a new position in shares of CONMED during the 2nd quarter worth $27,000. Pearl River Capital LLC bought a new stake in CONMED during the 2nd quarter worth $31,000. Ladenburg Thalmann Financial Services Inc. grew its position in CONMED by 743.8% during the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 675 shares of the medical technology company’s stock worth $58,000 after acquiring an additional 595 shares during the last quarter. Quadrant Capital Group LLC grew its position in CONMED by 2,888.0% during the 1st quarter. Quadrant Capital Group LLC now owns 747 shares of the medical technology company’s stock worth $61,000 after acquiring an additional 722 shares during the last quarter. Finally, Tower Research Capital LLC TRC grew its position in CONMED by 272.6% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,088 shares of the medical technology company’s stock worth $93,000 after acquiring an additional 796 shares during the last quarter. 96.75% of the stock is owned by institutional investors.
CONMED Company Profile
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, plastic, ENT, neurological, spinal, and cardiothoracic surgeries; sports biologics and tissue products; and surgical visualization products.
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