Analysts forecast that CONMED Corporation (NASDAQ:CNMD) will report $0.68 earnings per share for the current quarter, according to Zacks. Three analysts have issued estimates for CONMED Corporation’s earnings. The highest EPS estimate is $0.71 and the lowest is $0.65. CONMED Corporation posted earnings per share of $0.54 in the same quarter last year, which suggests a positive year-over-year growth rate of 25.9%. The business is expected to issue its next quarterly earnings report on Wednesday, February 7th.
On average, analysts expect that CONMED Corporation will report full year earnings of $1.88 per share for the current financial year, with EPS estimates ranging from $1.86 to $1.93. For the next year, analysts expect that the firm will post earnings of $2.06 per share, with EPS estimates ranging from $1.94 to $2.20. Zacks’ EPS averages are an average based on a survey of sell-side analysts that that provide coverage for CONMED Corporation.
CONMED Corporation (NASDAQ:CNMD) last posted its quarterly earnings data on Thursday, November 2nd. The medical technology company reported $0.42 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.41 by $0.01. The firm had revenue of $190.10 million during the quarter, compared to analyst estimates of $187.13 million. CONMED Corporation had a net margin of 1.99% and a return on equity of 8.40%. The company’s revenue for the quarter was up 2.9% on a year-over-year basis. During the same quarter last year, the business posted $0.41 EPS.
Several equities research analysts have commented on CNMD shares. KeyCorp reiterated a “hold” rating on shares of CONMED Corporation in a research note on Friday, August 25th. Needham & Company LLC reissued a “buy” rating and set a $57.00 target price on shares of CONMED Corporation in a research report on Friday, September 1st. Zacks Investment Research downgraded shares of CONMED Corporation from a “hold” rating to a “sell” rating in a research report on Friday, July 28th. TheStreet raised shares of CONMED Corporation from a “c+” rating to a “b-” rating in a research report on Thursday, August 3rd. Finally, BidaskClub downgraded shares of CONMED Corporation from a “hold” rating to a “sell” rating in a research report on Thursday, July 27th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $50.33.
In related news, EVP Luke A. Pomilio sold 10,020 shares of the firm’s stock in a transaction that occurred on Friday, November 3rd. The shares were sold at an average price of $53.57, for a total value of $536,771.40. Following the completion of the transaction, the executive vice president now directly owns 44,472 shares of the company’s stock, valued at approximately $2,382,365.04. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Jo Ann Golden sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, August 14th. The stock was sold at an average price of $50.00, for a total transaction of $150,000.00. Following the completion of the transaction, the director now directly owns 19,782 shares of the company’s stock, valued at $989,100. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 54,812 shares of company stock valued at $2,804,756. 2.62% of the stock is owned by insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its holdings in CONMED Corporation by 46,036.5% in the 1st quarter. BlackRock Inc. now owns 3,153,427 shares of the medical technology company’s stock valued at $140,043,000 after purchasing an additional 3,146,592 shares during the period. AHL Partners LLP boosted its holdings in CONMED Corporation by 2,792.2% in the 2nd quarter. AHL Partners LLP now owns 158,090 shares of the medical technology company’s stock valued at $8,053,000 after purchasing an additional 152,624 shares during the period. Heartland Advisors Inc. boosted its holdings in CONMED Corporation by 315.7% in the 2nd quarter. Heartland Advisors Inc. now owns 165,992 shares of the medical technology company’s stock valued at $8,456,000 after purchasing an additional 126,062 shares during the period. Victory Capital Management Inc. boosted its holdings in CONMED Corporation by 5.4% in the 3rd quarter. Victory Capital Management Inc. now owns 2,180,586 shares of the medical technology company’s stock valued at $114,415,000 after purchasing an additional 111,096 shares during the period. Finally, Macquarie Group Ltd. boosted its holdings in CONMED Corporation by 13.9% in the 3rd quarter. Macquarie Group Ltd. now owns 731,957 shares of the medical technology company’s stock valued at $38,406,000 after purchasing an additional 89,078 shares during the period. 98.75% of the stock is owned by institutional investors.
Shares of CONMED Corporation (NASDAQ CNMD) opened at $49.79 on Friday. The company has a debt-to-equity ratio of 0.84, a current ratio of 2.56 and a quick ratio of 1.49. The company has a market cap of $1,390.83, a PE ratio of 28.45, a price-to-earnings-growth ratio of 3.14 and a beta of 0.66. CONMED Corporation has a one year low of $39.74 and a one year high of $54.47.
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CONMED Corporation Company Profile
CONMED Corporation is a medical technology company. The Company is engaged in the development, manufacturing and sale on a global basis of surgical devices and related equipment. The Company provides surgical devices and equipment for minimally invasive procedures. The Company’s products are used by surgeons and physicians in a range of specialties, including orthopedics, general surgery, gynecology, neurosurgery and gastroenterology.
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