$212.38 Million in Sales Expected for CONMED Corporation (CNMD) This Quarter
Wall Street analysts forecast that CONMED Corporation (NASDAQ:CNMD) will post sales of $212.38 million for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for CONMED’s earnings, with the lowest sales estimate coming in at $211.73 million and the highest estimate coming in at $213.40 million. CONMED posted sales of $204.09 million during the same quarter last year, which suggests a positive year over year growth rate of 4.1%. The business is expected to announce its next earnings report on Wednesday, February 7th.
According to Zacks, analysts expect that CONMED will report full year sales of $212.38 million for the current financial year, with estimates ranging from $785.70 million to $787.30 million. For the next financial year, analysts anticipate that the business will report sales of $808.56 million per share, with estimates ranging from $800.00 million to $817.32 million. Zacks’ sales calculations 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 (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.01. The business had revenue of $190.10 million during the quarter, compared to the consensus estimate of $187.13 million. CONMED had a return on equity of 8.40% and a net margin of 1.99%. The business’s revenue was up 2.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.41 EPS.
CONMED (CNMD) opened at $52.74 on Friday. The stock has a market capitalization of $1,508.99, a price-to-earnings ratio of 30.87, a PEG ratio of 3.42 and a beta of 0.66. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.49 and a current ratio of 2.56. CONMED has a one year low of $39.74 and a one year high of $54.77.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 5th. Investors of record on Friday, December 15th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.52%. The ex-dividend date of this dividend is Thursday, December 14th. CONMED’s dividend payout ratio is presently 142.86%.
In related news, EVP Luke A. Pomilio sold 10,020 shares of CONMED stock in a transaction dated Friday, November 3rd. The stock was sold at an average price of $53.57, for a total transaction of $536,771.40. Following the completion of the sale, the executive vice president now owns 44,472 shares in the company, valued at approximately $2,382,365.04. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Luke A. Pomilio sold 29,363 shares of CONMED stock in a transaction dated Thursday, November 9th. The stock was sold at an average price of $50.70, for a total value of $1,488,704.10. Following the sale, the executive vice president now owns 45,486 shares of the company’s stock, valued at approximately $2,306,140.20. The disclosure for this sale can be found here. In the last quarter, insiders have sold 51,812 shares of company stock valued at $2,654,756. 2.62% of the stock is currently owned by company insiders.
A number of institutional investors have recently bought and sold shares of the stock. Public Employees Retirement System of Ohio grew its holdings in CONMED by 3.3% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 2,022 shares of the medical technology company’s stock valued at $103,000 after buying an additional 64 shares during the period. SG Americas Securities LLC purchased a new stake in CONMED in the 2nd quarter valued at about $111,000. Quantbot Technologies LP purchased a new stake in CONMED in the 3rd quarter valued at about $133,000. Pillar Pacific Capital Management LLC purchased a new stake in CONMED in the 2nd quarter valued at about $229,000. Finally, Aperio Group LLC grew its holdings in CONMED by 10.7% in the 2nd quarter. Aperio Group LLC now owns 5,034 shares of the medical technology company’s stock valued at $256,000 after buying an additional 487 shares during the period. Hedge funds and other institutional investors own 99.02% of the company’s stock.
WARNING: This report was reported by American Banking News and is the sole property of of American Banking News. If you are viewing this report on another domain, it was illegally copied and reposted in violation of US & international trademark & copyright legislation. The legal version of this report can be accessed at https://www.americanbankingnews.com/2017/12/02/212-38-million-in-sales-expected-for-conmed-corporation-cnmd-this-quarter.html.
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.