CONMED Corporation (CNMD) Announces Earnings Results
CONMED Corporation (NASDAQ:CNMD) announced its quarterly earnings data on Thursday. The medical technology company reported $0.42 EPS for the quarter, topping the Zacks’ consensus estimate of $0.41 by $0.01, Bloomberg Earnings reports. The company had revenue of $190.10 million during the quarter, compared to the consensus estimate of $187.13 million. CONMED Corporation had a net margin of 2.02% and a return on equity of 8.38%. CONMED Corporation’s quarterly revenue was up 2.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.41 EPS. CONMED Corporation updated its FY17 guidance to $1.85-1.90 EPS.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 5th. Shareholders of record on Friday, September 15th were given a dividend of $0.20 per share. The ex-dividend date was Thursday, September 14th. This represents a $0.80 dividend on an annualized basis and a yield of 1.53%. CONMED Corporation’s payout ratio is currently 142.86%.
In other CONMED Corporation news, Director Jo Ann Golden sold 3,000 shares of the firm’s stock in a transaction on Monday, August 14th. The stock was sold at an average price of $50.00, for a total value of $150,000.00. Following 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 Securities & Exchange Commission, which is accessible through this link. Company insiders own 2.62% of the company’s stock.
CNMD has been the subject of a number of analyst reports. BidaskClub downgraded shares of CONMED Corporation from a “sell” rating to a “strong sell” rating in a research report on Sunday, August 20th. Needham & Company LLC restated a “buy” rating and set a $57.00 price objective on shares of CONMED Corporation in a research report on Friday, September 1st. Zacks Investment Research upgraded shares of CONMED Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday. KeyCorp restated a “hold” rating on shares of CONMED Corporation in a research report on Friday, August 25th. Finally, TheStreet upgraded shares of CONMED Corporation from a “c+” rating to a “b-” rating in a research report on Thursday, August 3rd. One analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $52.50.
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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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