Brokerages predict that CONMED Corporation (NASDAQ:CNMD) will post earnings of $0.41 per share for the current quarter, according to Zacks. Three analysts have made estimates for CONMED Corporation’s earnings, with estimates ranging from $0.39 to $0.43. CONMED Corporation also reported earnings of $0.41 per share in the same quarter last year. The firm is expected to report its next quarterly earnings report on Thursday, October 26th.
On average, analysts expect that CONMED Corporation will report full-year earnings of $1.90 per share for the current year, with EPS estimates ranging from $1.88 to $1.93. For the next fiscal year, analysts expect that the firm will report earnings of $2.10 per share, with EPS estimates ranging from $1.96 to $2.20. Zacks’ EPS averages are a mean average based on a survey of research analysts that cover CONMED Corporation.
CONMED Corporation (NASDAQ:CNMD) last released its earnings results on Wednesday, July 26th. The medical technology company reported $0.41 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.41. CONMED Corporation had a return on equity of 8.38% and a net margin of 2.02%. The company had revenue of $197.20 million for the quarter, compared to analysts’ expectations of $194.50 million. During the same quarter in the previous year, the firm posted $0.47 EPS. The firm’s quarterly revenue was up 2.0% on a year-over-year basis.
Several brokerages have commented on CNMD. BidaskClub lowered shares of CONMED Corporation from a “sell” rating to a “strong sell” rating in a research note on Saturday. TheStreet upgraded shares of CONMED Corporation from a “c+” rating to a “b-” rating in a research note on Thursday, August 3rd. Zacks Investment Research lowered shares of CONMED Corporation from a “hold” rating to a “sell” rating in a research note on Friday, July 28th. Needham & Company LLC raised their price target on shares of CONMED Corporation from $54.00 to $57.00 and gave the company a “buy” rating in a research note on Thursday, July 27th. Finally, Ladenburg Thalmann Financial Services lowered shares of CONMED Corporation from a “buy” rating to a “neutral” rating and dropped their price target for the company from $50.00 to $48.00 in a research note on Thursday, April 27th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the company. CONMED Corporation presently has a consensus rating of “Hold” and a consensus price target of $49.33.
CONMED Corporation (NASDAQ CNMD) traded down 0.730% during trading on Wednesday, reaching $49.635. The company’s stock had a trading volume of 117,797 shares. The stock has a market capitalization of $1.39 billion, a price-to-earnings ratio of 88.792 and a beta of 0.67. The firm has a 50 day moving average of $50.82 and a 200 day moving average of $47.03. CONMED Corporation has a 52 week low of $37.60 and a 52 week high of $52.82.
In related news, Director Dirk Kuyper sold 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 13th. The shares were sold at an average price of $52.24, for a total transaction of $52,240.00. Following the transaction, the director now owns 10,739 shares in the company, valued at $561,005.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Daniel Jonas sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, May 15th. The shares were sold at an average price of $51.22, for a total transaction of $153,660.00. Following the transaction, the executive vice president now owns 14,455 shares in the company, valued at approximately $740,385.10. The disclosure for this sale can be found here. 2.62% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of CNMD. SG Americas Securities LLC bought a new position in CONMED Corporation during the second quarter worth approximately $111,000. Ameritas Investment Partners Inc. bought a new position in CONMED Corporation during the first quarter worth approximately $106,000. State of Alaska Department of Revenue raised its position in CONMED Corporation by 1.9% in the first quarter. State of Alaska Department of Revenue now owns 2,730 shares of the medical technology company’s stock worth $121,000 after buying an additional 50 shares in the last quarter. Pillar Pacific Capital Management LLC bought a new position in CONMED Corporation during the second quarter worth approximately $229,000. Finally, Karp Capital Management Corp bought a new position in CONMED Corporation during the first quarter worth approximately $202,000. Institutional investors and hedge funds own 99.75% of the company’s stock.
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CONMED Corporation 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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