Wall Street analysts forecast that CONMED Co. (NASDAQ:CNMD) will announce earnings of $0.43 per share for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for CONMED’s earnings. The highest EPS estimate is $0.43 and the lowest is $0.42. CONMED reported earnings per share of $0.38 during the same quarter last year, which would suggest a positive year over year growth rate of 13.2%. The firm is scheduled to report its next earnings report on Wednesday, April 25th.
According to Zacks, 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 financial year, analysts forecast that the firm will post earnings of $2.40 per share, with EPS estimates ranging from $2.36 to $2.46. Zacks’ EPS averages are an average based on a survey of analysts that cover CONMED.
CONMED (NASDAQ:CNMD) last issued its quarterly earnings data on Wednesday, January 31st. The medical technology company reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.04. CONMED had a net margin of 6.97% and a return on equity of 8.96%. The company had revenue of $222.60 million for the quarter, compared to analysts’ expectations of $212.17 million. During the same quarter in the previous year, the firm posted $0.54 earnings per share. CONMED’s revenue for the quarter was up 9.1% on a year-over-year basis.
Shares of CONMED (NASDAQ:CNMD) opened at $63.48 on Tuesday. The company has a quick ratio of 1.44, a current ratio of 2.38 and a debt-to-equity ratio of 0.75. CONMED has a one year low of $39.89 and a one year high of $64.99. The firm has a market cap of $1,771.12, a price-to-earnings ratio of 32.22, a P/E/G ratio of 2.57 and a beta of 0.67.
The company also recently declared a quarterly dividend, which will be paid on Thursday, April 5th. Shareholders of record on Thursday, March 15th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Wednesday, March 14th. This represents a $0.80 dividend on an annualized basis and a yield of 1.26%. CONMED’s dividend payout ratio (DPR) is currently 40.61%.
In other CONMED news, CFO Luke A. Pomilio sold 18,023 shares of the company’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $63.38, for a total transaction of $1,142,297.74. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Jo Ann Golden sold 3,000 shares of the company’s 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. Insiders have sold 46,473 shares of company stock worth $2,874,693 in the last ninety days. Insiders own 2.62% of the company’s stock.
A number of institutional investors and hedge funds have recently modified their holdings of CNMD. Millennium Management LLC bought a new stake in CONMED during the fourth quarter valued at $5,757,000. Macquarie Group Ltd. boosted its position in CONMED by 13.9% during the third quarter. Macquarie Group Ltd. now owns 731,957 shares of the medical technology company’s stock valued at $38,406,000 after acquiring an additional 89,078 shares during the last quarter. BlackRock Inc. boosted its position in CONMED by 2.7% during the fourth quarter. BlackRock Inc. now owns 3,281,817 shares of the medical technology company’s stock valued at $167,275,000 after acquiring an additional 85,022 shares during the last quarter. Assenagon Asset Management S.A. bought a new stake in CONMED during the fourth quarter valued at $3,169,000. Finally, Goldman Sachs Group Inc. boosted its position in CONMED by 6.1% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,067,319 shares of the medical technology company’s stock valued at $54,401,000 after acquiring an additional 61,617 shares during the last quarter. 99.57% of the stock is currently owned by institutional investors and hedge funds.
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 Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CONMED and related companies with MarketBeat.com's FREE daily email newsletter.