$229.20 Million in Sales Expected for CONMED Co. (CNMD) This Quarter

Equities research analysts predict that CONMED Co. (NASDAQ:CNMD) will announce $229.20 million in sales for the current quarter, Zacks Investment Research reports. Three analysts have issued estimates for CONMED’s earnings, with the highest sales estimate coming in at $230.31 million and the lowest estimate coming in at $227.80 million. CONMED posted sales of $222.56 million in the same quarter last year, which would indicate a positive year over year growth rate of 3%. The business is scheduled to report its next quarterly earnings report after the market closes on Tuesday, January 22nd.

On average, analysts expect that CONMED will report full-year sales of $846.40 million for the current financial year, with estimates ranging from $845.00 million to $847.50 million. For the next year, analysts forecast that the business will post sales of $890.61 million, with estimates ranging from $888.60 million to $893.03 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that that provide coverage for CONMED.

CONMED (NASDAQ:CNMD) last announced its quarterly earnings results on Thursday, November 1st. The medical technology company reported $0.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.01. CONMED had a net margin of 8.56% and a return on equity of 9.51%. The company had revenue of $202.30 million for the quarter, compared to analysts’ expectations of $198.51 million. During the same quarter in the previous year, the company earned $0.42 earnings per share. CONMED’s quarterly revenue was up 6.4% on a year-over-year basis.

Several equities analysts recently issued reports on CNMD shares. Zacks Investment Research upgraded shares of CONMED from a “sell” rating to a “hold” rating in a research report on Monday, September 17th. BidaskClub cut shares of CONMED from a “strong-buy” rating to a “buy” rating in a research report on Thursday, September 20th. Finally, Barclays set a $78.00 price target on shares of CONMED and gave the company an “equal weight” rating in a research report on Tuesday, October 16th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The company has an average rating of “Hold” and an average target price of $81.50.

In other CONMED news, EVP Heather L. Cohen acquired 900 shares of the company’s stock in a transaction that occurred on Tuesday, November 6th. The shares were acquired at an average price of $68.60 per share, with a total value of $61,740.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 3.13% of the company’s stock.

Large investors have recently bought and sold shares of the stock. Harvest Fund Management Co. Ltd bought a new stake in CONMED during the third quarter worth about $168,000. Itau Unibanco Holding S.A. bought a new stake in CONMED during the second quarter worth about $165,000. Wendell David Associates Inc. bought a new stake in CONMED during the third quarter worth about $208,000. Trexquant Investment LP bought a new stake in CONMED during the third quarter worth about $229,000. Finally, Fruth Investment Management bought a new stake in CONMED during the third quarter worth about $208,000. 95.80% of the stock is currently owned by institutional investors and hedge funds.

Shares of NASDAQ CNMD traded down $0.11 during midday trading on Friday, hitting $64.24. 79,500 shares of the company traded hands, compared to its average volume of 193,375. CONMED has a 12-month low of $55.23 and a 12-month high of $83.49. The company has a debt-to-equity ratio of 0.68, a current ratio of 2.20 and a quick ratio of 1.27. The stock has a market capitalization of $1.79 billion, a P/E ratio of 33.99, a P/E/G ratio of 2.28 and a beta of 0.63.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, January 7th. Investors of record on Friday, December 14th were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.25%. The ex-dividend date was Thursday, December 13th. CONMED’s payout ratio is currently 42.33%.


CONMED Corporation, a medical technology company, develops, manufactures, and sells surgical devices and related equipment for minimally invasive procedures in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. 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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