Brokerages Anticipate CONMED Co. (CNMD) Will Announce Earnings of $0.43 Per Share

Equities analysts expect CONMED Co. (NASDAQ:CNMD) to report earnings of $0.43 per share for the current quarter, according to Zacks. Two analysts have made estimates for CONMED’s earnings. The lowest EPS estimate is $0.42 and the highest is $0.43. CONMED reported earnings of $0.38 per share in the same quarter last year, which indicates a positive year-over-year growth rate of 13.2%. The firm is scheduled to announce its next quarterly earnings results on Wednesday, April 25th.

On average, analysts expect that CONMED will report full year earnings of $2.14 per share for the current year, with EPS estimates ranging from $2.14 to $2.15. For the next year, analysts expect that the business will post earnings of $2.38 per share, with EPS estimates ranging from $2.36 to $2.40. Zacks’ EPS averages are an average based on a survey of sell-side analysts that that provide coverage for CONMED.

CONMED (NASDAQ:CNMD) last announced its quarterly earnings results on Wednesday, January 31st. The medical technology company reported $0.69 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.65 by $0.04. CONMED had a net margin of 6.97% and a return on equity of 9.15%. The company had revenue of $222.60 million for the quarter, compared to analyst estimates of $212.17 million. During the same quarter in the prior year, the business posted $0.54 EPS. CONMED’s quarterly revenue was up 9.1% on a year-over-year basis.

CNMD has been the subject of several recent analyst reports. Zacks Investment Research downgraded shares of CONMED from a “hold” rating to a “sell” rating in a report on Monday, November 6th. Needham & Company LLC reaffirmed a “buy” rating and set a $58.00 price objective on shares of CONMED in a report on Friday, November 17th. BidaskClub downgraded shares of CONMED from a “sell” rating to a “strong sell” rating in a report on Wednesday, December 27th. KeyCorp reaffirmed a “hold” rating on shares of CONMED in a report on Friday, November 3rd. Finally, Piper Jaffray Companies reaffirmed a “hold” rating and set a $46.00 price objective on shares of CONMED in a report on Friday, November 3rd. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $59.00.

In other CONMED news, EVP Luke A. Pomilio sold 29,363 shares of the stock in a transaction on Thursday, November 9th. The shares were sold at an average price of $50.70, for a total value of $1,488,704.10. Following the completion of the sale, the executive vice president now directly owns 45,486 shares of the company’s stock, valued at approximately $2,306,140.20. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Jo Ann Golden sold 3,000 shares of the stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $63.90, for a total transaction of $191,700.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 50,386 shares of company stock valued at $2,822,702. 2.62% of the stock is owned by insiders.

Institutional investors have recently modified their holdings of the business. Public Employees Retirement System of Ohio boosted 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 purchasing an additional 64 shares during the period. Quantbot Technologies LP bought a new stake in CONMED in the 3rd quarter valued at $133,000. Piedmont Investment Advisors LLC bought a new stake in CONMED in the 2nd quarter valued at $273,000. Crossmark Global Holdings Inc. bought a new stake in CONMED in the 3rd quarter valued at $281,000. Finally, OxFORD Asset Management LLP bought a new stake in CONMED in the 3rd quarter valued at $294,000. 99.21% of the stock is owned by hedge funds and other institutional investors.

Shares of CONMED (NASDAQ:CNMD) opened at $60.78 on Wednesday. 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 stock has a market cap of $1,721.01, a price-to-earnings ratio of 32.43, a P/E/G ratio of 2.50 and a beta of 0.74. CONMED has a 1-year low of $39.74 and a 1-year high of $64.99.

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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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