$0.65 EPS Expected for CONMED Co. (CNMD) This Quarter

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

On average, analysts expect that CONMED will report full-year earnings of $1.86 per share for the current financial year, with EPS estimates ranging from $1.85 to $1.87. For the next year, analysts expect that the business will post 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 analysts that follow CONMED.

CONMED (NASDAQ:CNMD) last announced its quarterly earnings data on Thursday, November 2nd. The medical technology company reported $0.42 EPS for the quarter, topping the Zacks’ consensus estimate of $0.41 by $0.01. The firm had revenue of $190.10 million during the quarter, compared to analyst estimates of $187.13 million. CONMED had a return on equity of 8.40% and a net margin of 1.99%. The company’s revenue was up 2.9% on a year-over-year basis. During the same period last year, the company earned $0.41 earnings per share.

A number of brokerages recently commented on CNMD. Zacks Investment Research lowered CONMED from a “buy” rating to a “hold” rating in a research report on Thursday, January 11th. BidaskClub upgraded 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 target price 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 target price on shares of CONMED in a research report on Friday, November 3rd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $53.00.

In other news, EVP Luke A. Pomilio sold 10,020 shares of the business’s stock in a transaction dated Friday, November 3rd. The stock was sold at an average price of $53.57, for a total transaction of $536,771.40. Following the completion of the transaction, the executive vice president now directly owns 44,472 shares in the company, valued at approximately $2,382,365.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Luke A. Pomilio sold 12,429 shares of the business’s stock in a transaction dated Tuesday, November 7th. The stock was sold at an average price of $50.63, for a total value of $629,280.27. Following the transaction, the chief financial officer now owns 45,486 shares of the company’s stock, valued at $2,302,956.18. The disclosure for this sale can be found here. Insiders have sold a total of 51,812 shares of company stock valued at $2,654,756 over the last 90 days. Corporate insiders own 2.62% of the company’s stock.

Several institutional investors have recently bought and sold shares of the company. Public Employees Retirement System of Ohio grew its position in shares of 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. Parametric Portfolio Associates LLC grew its position in shares of CONMED by 1.3% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 69,195 shares of the medical technology company’s stock valued at $3,525,000 after purchasing an additional 868 shares during the period. Voya Investment Management LLC grew its position in shares of CONMED by 7.7% in the 2nd quarter. Voya Investment Management LLC now owns 12,919 shares of the medical technology company’s stock valued at $658,000 after purchasing an additional 928 shares during the period. American International Group Inc. grew its position in shares of CONMED by 6.0% in the 3rd quarter. American International Group Inc. now owns 21,427 shares of the medical technology company’s stock valued at $1,124,000 after purchasing an additional 1,208 shares during the period. Finally, Thrivent Financial For Lutherans grew its position in shares of CONMED by 2.5% in the 2nd quarter. Thrivent Financial For Lutherans now owns 65,470 shares of the medical technology company’s stock valued at $3,335,000 after purchasing an additional 1,600 shares during the period. Institutional investors own 99.02% of the company’s stock.

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

The business also recently announced a quarterly dividend, which was paid on Friday, January 5th. Stockholders of record on Friday, December 15th were given a dividend of $0.20 per share. The ex-dividend date was Thursday, December 14th. This represents a $0.80 annualized dividend and a dividend yield of 1.42%. CONMED’s payout ratio is currently 142.86%.

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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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