CONMED Co. (CNMD) Expected to Post Earnings of $0.65 Per Share

Wall Street brokerages expect that CONMED Co. (NASDAQ:CNMD) will post earnings of $0.65 per share for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for CONMED’s earnings. The lowest EPS estimate is $0.64 and the highest is $0.67. CONMED reported earnings per share of $0.54 in the same quarter last year, which would suggest a positive year-over-year growth rate of 20.4%. The company is scheduled to issue its next quarterly earnings results after the market closes on Wednesday, January 31st.

According to Zacks, analysts expect that CONMED will report full-year earnings of $1.86 per share for the current fiscal year, with EPS estimates ranging from $1.85 to $1.87. For the next financial year, analysts anticipate that the company will report earnings of $2.06 per share, with EPS estimates ranging from $2.00 to $2.14. Zacks’ EPS calculations are an average based on a survey of research firms that cover CONMED.

CONMED (NASDAQ:CNMD) last posted its quarterly earnings data on Thursday, November 2nd. The medical technology company reported $0.42 earnings per share for the quarter, beating the Thomson Reuters’ 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 company had revenue of $190.10 million during the quarter, compared to analyst estimates of $187.13 million. During the same quarter last year, the firm posted $0.41 EPS. The business’s revenue for the quarter was up 2.9% on a year-over-year basis.

Several research firms have recently weighed in on CNMD. Zacks Investment Research lowered shares of CONMED from a “buy” rating to a “hold” rating in a research report on Thursday, January 11th. BidaskClub upgraded shares of CONMED from a “strong sell” rating to a “sell” rating in a research report on Tuesday, January 9th. Needham & Company LLC restated a “buy” rating and set a $58.00 price objective on shares of CONMED in a research report on Friday, November 17th. KeyCorp restated a “hold” rating on shares of CONMED in a research report on Friday, November 3rd. Finally, Piper Jaffray Companies restated a “hold” rating and set a $46.00 price objective on shares of CONMED in a research report on Friday, November 3rd. One investment 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 company presently has an average rating of “Hold” and a consensus price target of $53.00.

CONMED (NASDAQ CNMD) opened at $56.49 on Friday. CONMED has a 12-month low of $39.74 and a 12-month high of $56.98. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.49 and a current ratio of 2.56. The firm has a market cap of $1,577.99, a PE ratio of 100.88, a PEG ratio of 3.23 and a beta of 0.66.

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 5th. Shareholders of record on Friday, December 15th were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.42%. The ex-dividend date of this dividend was Thursday, December 14th. CONMED’s dividend payout ratio is presently 142.86%.

In other CONMED news, 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 completion of the sale, the executive vice president now directly owns 44,472 shares of the company’s stock, valued at $2,382,365.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Luke A. Pomilio sold 29,363 shares of the company’s stock in a transaction dated Thursday, November 9th. The shares were sold at an average price of $50.70, for a total transaction of $1,488,704.10. Following the sale, the executive vice president now directly owns 45,486 shares of the company’s stock, valued at $2,306,140.20. The disclosure for this sale can be found here. Insiders have sold 51,812 shares of company stock valued at $2,654,756 over the last ninety days. Insiders own 2.62% of the company’s stock.

A number of hedge funds have recently bought and sold shares of the business. Public Employees Retirement System of Ohio lifted its stake in CONMED by 3.3% during the second 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 in the last quarter. Parametric Portfolio Associates LLC lifted its position in shares of CONMED by 1.3% in the second quarter. Parametric Portfolio Associates LLC now owns 69,195 shares of the medical technology company’s stock worth $3,525,000 after purchasing an additional 868 shares in the last quarter. Voya Investment Management LLC lifted its position in shares of CONMED by 7.7% in the second quarter. Voya Investment Management LLC now owns 12,919 shares of the medical technology company’s stock worth $658,000 after purchasing an additional 928 shares in the last quarter. American International Group Inc. lifted its position in shares of CONMED by 6.0% in the third quarter. American International Group Inc. now owns 21,427 shares of the medical technology company’s stock worth $1,124,000 after purchasing an additional 1,208 shares in the last quarter. Finally, Thrivent Financial For Lutherans lifted its position in shares of CONMED by 2.5% in the second quarter. Thrivent Financial For Lutherans now owns 65,470 shares of the medical technology company’s stock worth $3,335,000 after purchasing an additional 1,600 shares in the last quarter. 99.02% of the stock is owned by institutional investors.

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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.

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