Equities analysts expect CONMED Co. (NASDAQ:CNMD) to post $196.87 million in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have made estimates for CONMED’s earnings, with the lowest sales estimate coming in at $194.50 million and the highest estimate coming in at $199.24 million. CONMED posted sales of $186.57 million during the same quarter last year, which suggests a positive year over year growth rate of 5.5%. The firm is scheduled to announce its next earnings report on Wednesday, April 25th.
On average, analysts expect that CONMED will report full year sales of $196.87 million for the current year, with estimates ranging from $831.80 million to $836.32 million. For the next fiscal year, analysts forecast that the firm will report sales of $873.57 million per share, with estimates ranging from $866.90 million to $882.12 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that follow CONMED.
CONMED (NASDAQ:CNMD) last released its quarterly earnings results on Wednesday, January 31st. The medical technology company reported $0.69 EPS for the quarter, beating the Zacks’ consensus estimate of $0.65 by $0.04. The firm had revenue of $222.60 million for the quarter, compared to analyst estimates of $212.17 million. CONMED had a net margin of 6.97% and a return on equity of 8.96%. The company’s revenue for the quarter was up 9.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.54 earnings per share.
In other CONMED news, VP Terence M. Berge sold 3,868 shares of the business’s stock in a transaction dated Friday, March 9th. The shares were sold at an average price of $62.45, for a total value of $241,556.60. Following the completion of the transaction, the vice president now directly owns 19,908 shares of the company’s stock, valued at $1,243,254.60. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Luke A. Pomilio sold 19,620 shares of the business’s stock in a transaction dated Thursday, March 1st. The stock was sold at an average price of $60.19, for a total transaction of $1,180,927.80. Following the completion of the transaction, the chief financial officer now directly owns 600 shares of the company’s stock, valued at $36,114. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 46,473 shares of company stock valued at $2,874,693. Insiders own 2.62% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of CNMD. Millennium Management LLC bought a new stake in shares of CONMED during the fourth quarter worth approximately $5,757,000. Macquarie Group Ltd. increased its stake in CONMED by 13.9% in the third quarter. Macquarie Group Ltd. now owns 731,957 shares of the medical technology company’s stock valued at $38,406,000 after purchasing an additional 89,078 shares in the last quarter. BlackRock Inc. increased its stake in CONMED by 2.7% in the fourth quarter. BlackRock Inc. now owns 3,281,817 shares of the medical technology company’s stock valued at $167,275,000 after purchasing an additional 85,022 shares in the last quarter. Assenagon Asset Management S.A. bought a new stake in CONMED in the fourth quarter valued at approximately $3,169,000. Finally, Goldman Sachs Group Inc. increased its stake in CONMED by 6.1% in 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 purchasing an additional 61,617 shares in the last quarter. 99.57% of the stock is owned by institutional investors and hedge funds.
CNMD stock traded up $0.70 during trading hours on Thursday, reaching $64.53. 86,807 shares of the company’s stock were exchanged, compared to its average volume of 185,178. The firm has a market capitalization of $1,801.06, a price-to-earnings ratio of 32.86, a PEG ratio of 2.61 and a beta of 0.67. CONMED has a 52-week low of $40.54 and a 52-week high of $64.99. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.44 and a current ratio of 2.38.
The business also recently announced a quarterly dividend, which will be paid on Thursday, April 5th. Shareholders of record on Thursday, March 15th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.24%. The ex-dividend date is Wednesday, March 14th. CONMED’s dividend payout ratio is presently 40.61%.
TRADEMARK VIOLATION NOTICE: This article was posted by Ticker Report and is the property of of Ticker Report. If you are reading this article on another site, it was illegally copied and republished in violation of U.S. and international copyright & trademark laws. The original version of this article can be viewed at https://www.tickerreport.com/banking-finance/3282782/zacks-brokerages-anticipate-conmed-co-cnmd-will-post-quarterly-sales-of-196-87-million.html.
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.