CONMED (NYSE:CNMD – Get Free Report) updated its FY24 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of $4.25-4.35 for the period, compared to the consensus estimate of $4.33. The company issued revenue guidance of $1.330-1.355 billion, compared to the consensus revenue estimate of $1.35 billion. CONMED also updated its FY 2024 guidance to 4.250-4.350 EPS.
Wall Street Analysts Forecast Growth
CNMD has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. lowered their price target on CONMED from $115.00 to $75.00 and set an overweight rating on the stock in a research report on Thursday. Wells Fargo & Company lowered their price target on CONMED from $98.00 to $77.00 and set an equal weight rating on the stock in a research report on Thursday. Piper Sandler lowered their price target on CONMED from $100.00 to $95.00 and set an overweight rating on the stock in a research report on Thursday. Finally, Needham & Company LLC lowered their price target on CONMED from $129.00 to $107.00 and set a buy rating on the stock in a research report on Thursday. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average price target of $107.86.
Check Out Our Latest Research Report on CNMD
CONMED Price Performance
CONMED (NYSE:CNMD – Get Free Report) last released its earnings results on Wednesday, April 24th. The company reported $0.79 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.05. The business had revenue of $312.27 million for the quarter, compared to the consensus estimate of $307.06 million. CONMED had a return on equity of 13.99% and a net margin of 6.53%. On average, sell-side analysts expect that CONMED will post 4.31 EPS for the current fiscal year.
CONMED Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, April 5th. Stockholders of record on Friday, March 15th were given a $0.20 dividend. The ex-dividend date was Thursday, March 14th. This represents a $0.80 annualized dividend and a dividend yield of 1.22%. CONMED’s dividend payout ratio (DPR) is presently 30.65%.
CONMED Company Profile
CONMED Corporation, a medical technology company, develops, manufactures, and sells surgical devices and related equipment for surgical procedures worldwide. The company offers orthopedic surgery products, including BioBrace, TruShot with Y-Knot All-In-One Soft Tissue Fixation System, Y-knot All-Suture Anchors, and Agro Knotless Suture Anchors, which provide clinical solutions to orthopedic surgeons for the augmentation and repair of soft tissue injuries, as well as provides supporting products that enable surgeons to perform minimally invasive sports medicine surgeries.
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