Wall Street brokerages expect that CONMED Co. (NASDAQ:CNMD) will report earnings per share of $0.56 for the current fiscal quarter, according to Zacks. Four analysts have issued estimates for CONMED’s earnings, with the lowest EPS estimate coming in at $0.54 and the highest estimate coming in at $0.58. CONMED posted earnings per share of $0.46 in the same quarter last year, which suggests a positive year over year growth rate of 21.7%. The firm is scheduled to report its next quarterly earnings report on Thursday, November 7th.
According to Zacks, analysts expect that CONMED will report full year earnings of $2.55 per share for the current year, with EPS estimates ranging from $2.54 to $2.55. For the next year, analysts expect that the business will report earnings of $2.98 per share, with EPS estimates ranging from $2.90 to $3.04. Zacks’ earnings per share calculations are a mean average based on a survey of research analysts that follow CONMED.
CONMED (NASDAQ:CNMD) last posted its quarterly earnings results on Wednesday, July 31st. The medical technology company reported $0.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.53 by $0.03. CONMED had a net margin of 3.13% and a return on equity of 9.95%. The business had revenue of $238.26 million during the quarter, compared to analyst estimates of $233.06 million. During the same period in the prior year, the business posted $0.46 earnings per share. The company’s revenue was up 12.0% on a year-over-year basis.
Several research firms have issued reports on CNMD. Stifel Nicolaus upped their price target on shares of CONMED from $97.00 to $99.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. BidaskClub lowered shares of CONMED from a “strong-buy” rating to a “buy” rating in a research report on Friday, September 6th. Zacks Investment Research upgraded shares of CONMED from a “hold” rating to a “buy” rating and set a $98.00 price target for the company in a research report on Friday, August 2nd. Piper Jaffray Companies upgraded shares of CONMED from a “neutral” rating to an “overweight” rating and upped their price target for the company from $88.00 to $110.00 in a research report on Thursday, August 22nd. Finally, Barclays increased their target price on shares of CONMED from $96.00 to $105.00 and gave the stock an “overweight” rating in a report on Thursday, August 1st. Six equities research analysts have rated the stock with a buy rating, The stock has an average rating of “Buy” and an average price target of $101.20.
In related news, Director Dirk Kuyper sold 11,614 shares of the stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $91.10, for a total value of $1,058,035.40. Following the completion of the transaction, the director now directly owns 10,396 shares of the company’s stock, valued at $947,075.60. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Stanley W. Peters III sold 500 shares of the stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $101.76, for a total transaction of $50,880.00. Following the completion of the transaction, the vice president now directly owns 130 shares of the company’s stock, valued at $13,228.80. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 17,476 shares of company stock valued at $1,610,458. 4.38% of the stock is currently owned by company insiders.
Hedge funds have recently added to or reduced their stakes in the stock. Altshuler Shaham Ltd bought a new position in CONMED in the second quarter worth about $27,000. Pearl River Capital LLC bought a new position in CONMED in the second quarter worth about $31,000. Ladenburg Thalmann Financial Services Inc. raised its stake in CONMED by 743.8% in the second quarter. Ladenburg Thalmann Financial Services Inc. now owns 675 shares of the medical technology company’s stock worth $58,000 after buying an additional 595 shares in the last quarter. Tower Research Capital LLC TRC raised its stake in CONMED by 272.6% in the second quarter. Tower Research Capital LLC TRC now owns 1,088 shares of the medical technology company’s stock worth $93,000 after buying an additional 796 shares in the last quarter. Finally, Amundi Pioneer Asset Management Inc. bought a new position in CONMED in the first quarter worth about $150,000. 96.75% of the stock is owned by institutional investors.
NASDAQ CNMD traded up $0.41 during trading on Tuesday, hitting $101.07. 143,823 shares of the company’s stock traded hands, compared to its average volume of 180,679. The stock has a fifty day moving average of $95.78 and a two-hundred day moving average of $85.51. The company has a debt-to-equity ratio of 1.14, a current ratio of 2.55 and a quick ratio of 1.44. CONMED has a 12-month low of $56.90 and a 12-month high of $102.56. The firm has a market cap of $2.85 billion, a P/E ratio of 46.36, a PEG ratio of 2.66 and a beta of 0.54.
The company also recently announced a quarterly dividend, which will be paid on Monday, October 7th. Stockholders of record on Friday, September 13th will be issued a dividend of $0.20 per share. The ex-dividend date is Thursday, September 12th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.79%. CONMED’s dividend payout ratio is currently 36.70%.
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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