CONMED Corporation (CNMD) Issues FY17 Earnings Guidance
CONMED Corporation (NASDAQ:CNMD) updated its FY17 earnings guidance on Thursday. The company provided EPS guidance of $1.85-1.90 for the period, compared to the Thomson Reuters consensus EPS estimate of $1.87.
A number of equities analysts recently issued reports on the stock. BidaskClub downgraded shares of CONMED Corporation from a sell rating to a strong sell rating in a research note on Saturday, August 5th. Zacks Investment Research raised shares of CONMED Corporation from a sell rating to a hold rating in a research note on Tuesday. TheStreet raised shares of CONMED Corporation from a c+ rating to a b- rating in a research note on Thursday, August 3rd. Needham & Company LLC raised their target price on shares of CONMED Corporation from $54.00 to $57.00 and gave the company a buy rating in a research note on Thursday, July 27th. Finally, KeyCorp reaffirmed a hold rating on shares of CONMED Corporation in a research note on Friday, August 25th. One analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the stock. The company presently has a consensus rating of Hold and a consensus target price of $52.50.
CONMED Corporation (NASDAQ:CNMD) last posted its quarterly earnings results on Thursday, November 2nd. The medical technology company reported $0.42 EPS for the quarter, beating the consensus estimate of $0.41 by $0.01. CONMED Corporation had a net margin of 2.02% and a return on equity of 8.38%. The business had revenue of $190.10 million during the quarter, compared to analyst estimates of $187.13 million. During the same quarter in the previous year, the business posted $0.41 EPS. The company’s quarterly revenue was up 2.9% compared to the same quarter last year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, October 5th. Stockholders of record on Friday, September 15th were issued a $0.20 dividend. The ex-dividend date of this dividend was Thursday, September 14th. This represents a $0.80 annualized dividend and a dividend yield of 1.53%. CONMED Corporation’s dividend payout ratio is currently 142.86%.
In other news, Director Jo Ann Golden sold 3,000 shares of the business’s stock in a transaction dated Monday, August 14th. The shares were sold at an average price of $50.00, for a total value of $150,000.00. Following the completion of the sale, the director now owns 19,782 shares in the company, valued at approximately $989,100. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 2.62% of the company’s stock.
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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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