Wall Street analysts predict that CONMED Corporation (NASDAQ:CNMD) will post earnings per share of $0.65 for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for CONMED’s earnings, with estimates ranging from $0.64 to $0.67. CONMED reported earnings of $0.54 per share in the same quarter last year, which would suggest a positive year over year growth rate of 20.4%. The company is expected to report its next quarterly earnings report on Wednesday, February 7th.
According to Zacks, analysts expect that CONMED will report full-year earnings of $1.86 per share for the current year, with EPS estimates ranging from $1.85 to $1.87. For the next fiscal year, analysts expect that the firm will post earnings of $2.06 per share, with EPS estimates ranging from $2.00 to $2.14. Zacks’ EPS averages are a mean average based on a survey of sell-side research firms that that provide coverage for CONMED.
CONMED (NASDAQ:CNMD) last released its quarterly earnings results on Thursday, November 2nd. The medical technology company reported $0.42 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.01. CONMED had a net margin of 1.99% and a return on equity of 8.40%. The firm had revenue of $190.10 million during the quarter, compared to the consensus estimate of $187.13 million. During the same quarter in the prior year, the firm earned $0.41 EPS. The company’s revenue for the quarter was up 2.9% on a year-over-year basis.
In related news, CFO Luke A. Pomilio sold 12,429 shares of the company’s stock in a transaction dated Tuesday, November 7th. The shares were sold at an average price of $50.63, for a total transaction of $629,280.27. Following the completion of the sale, the chief financial officer now owns 45,486 shares of the company’s stock, valued at approximately $2,302,956.18. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Luke A. Pomilio sold 10,020 shares of the company’s stock in a transaction dated Friday, November 3rd. The shares were sold at an average price of $53.57, for a total transaction of $536,771.40. Following the sale, the executive vice president now directly owns 44,472 shares of the company’s stock, valued at approximately $2,382,365.04. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 51,812 shares of company stock valued at $2,654,756. 2.62% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in CNMD. AHL Partners LLP grew its stake in shares of CONMED 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 buying an additional 152,624 shares during the period. Heartland Advisors Inc. grew its stake in shares of CONMED 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 buying an additional 126,062 shares during the period. Victory Capital Management Inc. grew its stake in shares of CONMED 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 buying an additional 111,096 shares during the period. Macquarie Group Ltd. grew its stake in shares of CONMED 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 buying an additional 89,078 shares during the period. Finally, Martingale Asset Management L P purchased a new stake in shares of CONMED in the 2nd quarter valued at approximately $4,193,000. 99.02% of the stock is owned by institutional investors.
CONMED (CNMD) remained flat at $$53.50 on Thursday. The stock had a trading volume of 112,413 shares, compared to its average volume of 126,240. CONMED has a 52 week low of $39.74 and a 52 week high of $54.77. The company has a current ratio of 2.56, a quick ratio of 1.49 and a debt-to-equity ratio of 0.84. The stock has a market cap of $1,508.99, a price-to-earnings ratio of 30.87, a P/E/G ratio of 3.42 and a beta of 0.66.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 5th. Investors of record on Friday, December 15th will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $0.80 annualized dividend and a yield of 1.50%. CONMED’s dividend payout ratio is presently 142.86%.
TRADEMARK VIOLATION NOTICE: “$0.65 Earnings Per Share Expected for CONMED Corporation (CNMD) This Quarter” was originally posted by American Banking News and is owned by of American Banking News. If you are viewing this article on another publication, it was illegally stolen and republished in violation of United States and international copyright and trademark legislation. The correct version of this article can be read at https://www.americanbankingnews.com/2017/11/30/0-65-earnings-per-share-expected-for-conmed-corporation-cnmd-this-quarter.html.
CONMED 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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for CONMED Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CONMED Corporation and related companies with MarketBeat.com's FREE daily email newsletter.