Equities analysts forecast that CONMED Co. (NASDAQ:CNMD) will post $0.43 earnings per share (EPS) for the current fiscal quarter, according to Zacks. Two analysts have provided 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 suggests a positive year over year growth rate of 13.2%. The company is expected to issue 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 fiscal year, analysts expect that the business will report earnings of $2.40 per share, with EPS estimates ranging from $2.36 to $2.46. Zacks’ EPS calculations are a mean average based on a survey of research firms that follow CONMED.
CONMED (NASDAQ:CNMD) last issued its quarterly earnings results on Wednesday, January 31st. The medical technology company reported $0.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $212.17 million. During the same quarter in the previous year, the firm earned $0.54 earnings per share. The firm’s quarterly revenue was up 9.1% on a year-over-year basis.
Shares of CONMED (CNMD) traded up $0.46 during trading on Friday, reaching $61.13. 106,900 shares of the company were exchanged, compared to its average volume of 191,312. CONMED has a one year low of $39.74 and a one year high of $64.99. 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 stock has a market capitalization of $1,700.00, a P/E ratio of 73.31, a P/E/G ratio of 2.46 and a beta of 0.74.
In other news, Director Jo Ann Golden sold 3,000 shares of the business’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $63.90, for a total transaction of $191,700.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Luke A. Pomilio sold 1,962 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $60.25, for a total transaction of $118,210.50. The disclosure for this sale can be found here. Insiders have sold a total of 22,985 shares of company stock valued at $1,452,208 in the last 90 days. Insiders own 2.62% of the company’s stock.
Several large investors have recently modified their holdings of the company. BlackRock Inc. lifted its position in shares of CONMED by 2.7% during the 4th quarter. BlackRock Inc. now owns 3,281,817 shares of the medical technology company’s stock worth $167,275,000 after buying an additional 85,022 shares during the last quarter. Victory Capital Management Inc. increased its holdings in shares of CONMED by 2.1% in the 4th quarter. Victory Capital Management Inc. now owns 2,225,574 shares of the medical technology company’s stock valued at $113,438,000 after acquiring an additional 44,988 shares during the period. Goldman Sachs Group Inc. increased its holdings in shares of CONMED by 6.1% in the 4th 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 period. Macquarie Group Ltd. increased its holdings in shares of CONMED by 3.2% in the 4th quarter. Macquarie Group Ltd. now owns 755,724 shares of the medical technology company’s stock valued at $38,519,000 after acquiring an additional 23,767 shares during the period. Finally, State Street Corp increased its holdings in shares of CONMED by 3.4% in the 2nd quarter. State Street Corp now owns 701,058 shares of the medical technology company’s stock valued at $35,715,000 after acquiring an additional 22,919 shares during the period. Institutional investors and hedge funds own 98.57% of the company’s stock.
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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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