CONMED Corporation (CNMD) to Release Earnings on Thursday
CONMED Corporation (NASDAQ:CNMD) is scheduled to be releasing its earnings data after the market closes on Thursday, November 2nd. Analysts expect CONMED Corporation to post earnings of $0.42 per share for the quarter.
CONMED Corporation (NASDAQ:CNMD) last posted its earnings results on Wednesday, July 26th. The medical technology company reported $0.41 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.41. CONMED Corporation had a net margin of 2.02% and a return on equity of 8.38%. The firm had revenue of $197.20 million for the quarter, compared to the consensus estimate of $194.50 million. During the same period in the previous year, the firm posted $0.47 EPS. The business’s quarterly revenue was up 2.0% on a year-over-year basis. On average, analysts expect CONMED Corporation to post $1.87 EPS for the current fiscal year and $2.03 EPS for the next fiscal year.
Shares of CONMED Corporation (CNMD) opened at 53.15 on Thursday. The stock has a 50 day moving average of $52.03 and a 200-day moving average of $50.46. CONMED Corporation has a 12-month low of $37.60 and a 12-month high of $54.47. The company has a market capitalization of $1.48 billion, a P/E ratio of 95.08 and a beta of 0.68.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 5th. Investors of record on Friday, September 15th were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.51%. The ex-dividend date was Thursday, September 14th. CONMED Corporation’s payout ratio is currently 142.86%.
CNMD has been the subject of several recent analyst reports. BidaskClub cut shares of CONMED Corporation from a “buy” rating to a “hold” rating in a research report on Thursday, June 29th. Needham & Company LLC raised their price objective on shares of CONMED Corporation from $54.00 to $57.00 and gave the stock a “buy” rating in a research report on Thursday, July 27th. Zacks Investment Research cut shares of CONMED Corporation from a “hold” rating to a “sell” rating in a research report on Friday, July 28th. TheStreet upgraded shares of CONMED Corporation from a “c+” rating to a “b-” rating in a research report on Thursday, August 3rd. Finally, KeyCorp restated a “hold” rating on shares of CONMED Corporation in a research report on Friday, August 25th. Two analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $49.33.
In related news, Director Jo Ann Golden sold 3,000 shares of the firm’s stock in a transaction dated Monday, August 14th. The shares were sold at an average price of $50.00, for a total transaction of $150,000.00. Following the completion of the sale, the director now directly owns 19,782 shares in the company, valued at $989,100. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 2.62% of the stock is currently owned by company insiders.
About CONMED Corporation
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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