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.

Several research firms have recently issued reports on CNMD. BidaskClub downgraded CONMED from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 5th. Needham & Company LLC reaffirmed a “buy” rating and set a $58.00 price target on shares of CONMED in a research note on Friday, November 17th. Zacks Investment Research raised CONMED from a “sell” rating to a “hold” rating in a research note on Tuesday, November 14th. KeyCorp reaffirmed a “hold” rating on shares of CONMED in a research note on Friday, August 25th. Finally, Piper Jaffray Companies reaffirmed a “hold” rating and set a $46.00 price target on shares of CONMED in a research note on Friday, November 3rd. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $50.67.

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.

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About CONMED

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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Earnings History and Estimates for CONMED (NASDAQ:CNMD)

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