Equities research analysts predict that CONMED Co. (NASDAQ:CNMD) will announce earnings per share (EPS) of $0.53 for the current fiscal quarter, according to Zacks Investment Research. Four analysts have issued estimates for CONMED’s earnings, with the highest EPS estimate coming in at $0.54 and the lowest estimate coming in at $0.52. CONMED reported earnings per share of $0.46 during the same quarter last year, which would suggest a positive year-over-year growth rate of 15.2%. The company is scheduled to report its next earnings results on Wednesday, August 7th.
According to Zacks, analysts expect that CONMED will report full-year earnings of $2.50 per share for the current fiscal year, with EPS estimates ranging from $2.49 to $2.50. For the next year, analysts expect that the business will report earnings of $2.94 per share, with EPS estimates ranging from $2.88 to $3.04. Zacks’ earnings per share averages are a mean average based on a survey of research firms that that provide coverage for CONMED.
CONMED (NASDAQ:CNMD) last announced its earnings results on Wednesday, April 24th. The medical technology company reported $0.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.54 by $0.03. The company had revenue of $218.38 million for the quarter, compared to analyst estimates of $213.95 million. CONMED had a return on equity of 9.67% and a net margin of 3.56%. The firm’s quarterly revenue was up 8.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.53 earnings per share.
A number of analysts have issued reports on CNMD shares. Zacks Investment Research raised CONMED from a “hold” rating to a “buy” rating and set a $93.00 target price on the stock in a research report on Monday, April 15th. Needham & Company LLC reissued a “buy” rating and issued a $79.00 target price (down previously from $86.00) on shares of CONMED in a research report on Wednesday, January 23rd. BidaskClub raised CONMED from a “hold” rating to a “buy” rating in a research report on Wednesday, March 6th. Stifel Nicolaus started coverage on CONMED in a research report on Wednesday, April 17th. They issued a “buy” rating and a $95.00 target price on the stock. Finally, Barclays boosted their target price on CONMED from $85.00 to $92.00 and gave the company an “overweight” rating in a research report on Monday, April 15th. One analyst has rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. CONMED currently has an average rating of “Buy” and an average price target of $91.00.
Shares of NASDAQ CNMD opened at $80.65 on Friday. The company has a market capitalization of $2.28 billion, a price-to-earnings ratio of 37.00, a PEG ratio of 2.41 and a beta of 0.64. The company has a debt-to-equity ratio of 1.16, a quick ratio of 1.45 and a current ratio of 2.58. CONMED has a 52-week low of $56.90 and a 52-week high of $85.91.
In other news, EVP Peter K. Shagory sold 3,000 shares of the company’s stock in a transaction on Friday, March 8th. The stock was sold at an average price of $77.77, for a total transaction of $233,310.00. Following the sale, the executive vice president now owns 4,649 shares of the company’s stock, valued at $361,552.73. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Daniel Jonas sold 4,000 shares of the company’s stock in a transaction on Friday, April 26th. The stock was sold at an average price of $80.51, for a total value of $322,040.00. Following the sale, the executive vice president now directly owns 27,497 shares in the company, valued at approximately $2,213,783.47. The disclosure for this sale can be found here. Insiders have sold 10,511 shares of company stock worth $846,032 in the last ninety days. Corporate insiders own 4.38% of the company’s stock.
Institutional investors have recently bought and sold shares of the company. Financial Gravity Companies Inc. purchased a new position in CONMED in the fourth quarter valued at $45,000. Quadrant Capital Group LLC increased its holdings in CONMED by 2,888.0% in the first quarter. Quadrant Capital Group LLC now owns 747 shares of the medical technology company’s stock valued at $61,000 after buying an additional 722 shares during the last quarter. First Quadrant L P CA purchased a new position in CONMED in the fourth quarter valued at $78,000. US Bancorp DE increased its holdings in CONMED by 48.1% in the first quarter. US Bancorp DE now owns 1,324 shares of the medical technology company’s stock valued at $110,000 after buying an additional 430 shares during the last quarter. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its holdings in CONMED by 35.2% in the fourth quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 1,742 shares of the medical technology company’s stock valued at $106,000 after buying an additional 454 shares during the last quarter. 96.52% of the stock is currently owned by institutional investors and hedge funds.
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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