CONMED Co. (NYSE:CNMD) Expected to Announce Earnings of $0.43 Per Share


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Analysts predict that CONMED Co. (NYSE:CNMD) will announce $0.43 earnings per share (EPS) for the current quarter, Zacks reports. Five analysts have made estimates for CONMED’s earnings. The lowest EPS estimate is $0.43 and the highest is $0.44. CONMED posted earnings per share of $0.51 in the same quarter last year, which indicates a negative year over year growth rate of 15.7%. The company is expected to announce its next quarterly 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 financial year, with EPS estimates ranging from $2.94 to $2.96. For the next financial year, analysts forecast that the firm will post earnings of $3.63 per share, with EPS estimates ranging from $3.54 to $3.69. Zacks’ earnings per share averages are a mean average based on a survey of research analysts that cover CONMED.

CONMED (NYSE:CNMD) last released its quarterly earnings results on Tuesday, January 26th. The company reported $0.84 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.77 by $0.07. The company had revenue of $252.80 million during the quarter, compared to analysts’ expectations of $262.94 million. CONMED had a net margin of 0.04% and a return on equity of 9.48%. The business’s quarterly revenue was down 4.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.90 earnings per share.

Separately, Piper Sandler upped their price target on shares of CONMED from $95.00 to $145.00 and gave the stock an “overweight” rating in a research report on Thursday, January 28th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company. CONMED presently has an average rating of “Buy” and a consensus target price of $96.67.

CNMD traded up $1.77 during trading hours on Tuesday, hitting $125.25. 15,170 shares of the company’s stock were exchanged, 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’s 50-day moving average is $116.88 and its two-hundred day moving average is $103.02. The stock has a market cap of $3.58 billion, a price-to-earnings ratio of -3,131.25, a PEG ratio of 3.48 and a beta of 1.55. The company has a quick ratio of 1.24, a current ratio of 2.26 and a debt-to-equity ratio of 1.11.

In related news, CEO Curt R. Hartman sold 15,000 shares of CONMED stock in a transaction on Thursday, February 18th. The shares were sold at an average price of $119.93, for a total value of $1,798,950.00. Following the completion of the sale, the chief executive officer now owns 125,957 shares of the company’s stock, valued at approximately $15,106,023.01. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 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 transaction of $264,764.80. Following the completion of the sale, the chief executive officer now directly owns 240,051 shares of the company’s stock, valued at approximately $25,301,375.40. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 58,483 shares of company stock valued at $6,408,615. Company insiders own 5.39% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the business. Steward Partners Investment Advisory LLC purchased a new position in shares of CONMED in the 3rd quarter worth about $28,000. Dimension Capital Management LLC bought a new stake in shares of CONMED during the third quarter valued at about $28,000. FIL Ltd increased its position 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 during the period. Inspire Advisors LLC bought a new stake in shares of CONMED during the fourth quarter valued at about $28,000. Finally, Harbor Investment Advisory LLC increased its position in shares of CONMED by 104.6% in the third quarter. Harbor Investment Advisory LLC now owns 446 shares of the company’s stock worth $35,000 after purchasing an additional 228 shares during the last quarter.

About CONMED

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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Earnings History and Estimates for CONMED (NYSE:CNMD)

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