CONMED (NYSE:CNMD – Get Free Report) issued an update on its FY24 earnings guidance on Wednesday morning. The company provided EPS guidance of $4.25-4.35 for the period, compared to the consensus EPS estimate of $4.33. The company issued revenue guidance of $1.330-1.355 billion, compared to the consensus revenue estimate of $1.35 billion.
CONMED Stock Down 1.8 %
Shares of NYSE CNMD traded down $1.30 during midday trading on Wednesday, hitting $70.01. 1,189,572 shares of the company’s stock were exchanged, compared to its average volume of 559,479. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.98 and a quick ratio of 0.96. CONMED has a twelve month low of $69.84 and a twelve month high of $138.47. The company has a market cap of $2.16 billion, a PE ratio of 34.33, a P/E/G ratio of 0.66 and a beta of 1.33. The firm’s fifty day simple moving average is $79.06 and its 200-day simple moving average is $94.06.
CONMED (NYSE:CNMD – Get Free Report) last issued its earnings results on Wednesday, January 31st. The company reported $1.06 earnings per share for the quarter, missing the consensus estimate of $1.11 by ($0.05). The business had revenue of $327.05 million for the quarter, compared to analyst estimates of $332.94 million. CONMED had a return on equity of 13.69% and a net margin of 5.18%. Research analysts predict that CONMED will post 4.34 EPS for the current fiscal year.
CONMED Dividend Announcement
Wall Street Analysts Forecast Growth
CNMD has been the topic of several analyst reports. Needham & Company LLC lifted their target price on CONMED from $119.00 to $129.00 and gave the company a buy rating in a research note on Thursday, February 1st. Piper Sandler reduced their price target on CONMED from $130.00 to $100.00 and set an overweight rating for the company in a report on Thursday, February 1st. JPMorgan Chase & Co. cut their price target on CONMED from $135.00 to $115.00 and set an overweight rating for the company in a report on Thursday, February 1st. Finally, Wells Fargo & Company cut their price target on CONMED from $107.00 to $98.00 and set an equal weight rating for the company in a report on Thursday, February 1st. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, CONMED currently has a consensus rating of Moderate Buy and a consensus price target of $120.43.
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About CONMED
CONMED Corporation, a medical technology company, develops, manufactures, and sells surgical devices and related equipment for surgical procedures worldwide. The company offers orthopedic surgery products, including BioBrace, TruShot with Y-Knot All-In-One Soft Tissue Fixation System, Y-knot All-Suture Anchors, and Agro Knotless Suture Anchors, which provide clinical solutions to orthopedic surgeons for the augmentation and repair of soft tissue injuries, as well as provides supporting products that enable surgeons to perform minimally invasive sports medicine surgeries.
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