CONMED Co. (CNMD) Expected to Post Earnings of $0.53 Per Share

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Equities analysts expect that CONMED Co. (NASDAQ:CNMD) will report earnings per share of $0.53 for the current fiscal quarter, Zacks reports. Four analysts have made estimates for CONMED’s earnings, with the lowest EPS estimate coming in at $0.52 and the highest estimate coming in at $0.54. CONMED posted earnings of $0.46 per share during the same quarter last year, which would indicate a positive year over year growth rate of 15.2%. The business is expected to announce its next quarterly earnings results on Wednesday, August 7th.

According to Zacks, analysts expect that CONMED will report full year earnings of $2.50 per share for the current fiscal year, with EPS estimates ranging from $2.49 to $2.50. For the next year, analysts forecast that the business will post earnings of $2.94 per share, with EPS estimates ranging from $2.88 to $3.04. Zacks Investment Research’s EPS calculations are a mean average based on a survey of analysts that follow CONMED.

CONMED (NASDAQ:CNMD) last released its quarterly earnings data on Wednesday, April 24th. The medical technology company reported $0.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.54 by $0.03. CONMED had a return on equity of 9.67% and a net margin of 3.56%. The company had revenue of $218.38 million for the quarter, compared to analyst estimates of $213.95 million. During the same period in the previous year, the company posted $0.53 EPS. The firm’s revenue for the quarter was up 8.1% compared to the same quarter last year.

CNMD has been the subject of several recent analyst reports. Zacks Investment Research cut CONMED from a “hold” rating to a “sell” rating in a research report on Monday, January 21st. Needham & Company LLC restated a “buy” rating and set a $79.00 target price (down from $86.00) on shares of CONMED in a research report on Wednesday, January 23rd. Barclays initiated coverage on CONMED in a research report on Tuesday, February 19th. They set an “overweight” rating and a $85.00 target price for the company. BidaskClub upgraded CONMED from a “hold” rating to a “buy” rating in a research report on Wednesday, March 6th. Finally, Stifel Nicolaus initiated coverage on CONMED in a research report on Wednesday, April 17th. They set a “buy” rating and a $95.00 target price for the company. One research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $91.00.

CONMED stock traded down $1.57 during midday trading on Friday, hitting $80.32. 153,787 shares of the company’s stock were exchanged, compared to its average volume of 291,559. CONMED has a 52-week low of $56.90 and a 52-week high of $85.91. The company has a quick ratio of 1.45, a current ratio of 2.58 and a debt-to-equity ratio of 1.16. The stock has a market cap of $2.27 billion, a price-to-earnings ratio of 36.84, a PEG ratio of 2.41 and a beta of 0.64.

In other news, VP Stanley W. Peters III sold 1,511 shares of the company’s stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $82.00, for a total value of $123,902.00. Following the completion of the transaction, the vice president now directly owns 618 shares in the company, valued at approximately $50,676. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Peter K. Shagory sold 3,000 shares of the company’s stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $77.77, for a total value of $233,310.00. Following the completion of the transaction, the executive vice president now owns 4,649 shares of the company’s stock, valued at $361,552.73. The disclosure for this sale can be found here. Insiders sold a total of 10,511 shares of company stock valued at $846,032 over the last quarter. Company insiders own 4.38% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of CNMD. Financial Gravity Companies Inc. purchased a new position in shares of CONMED in the 4th quarter worth about $45,000. Quadrant Capital Group LLC boosted its holdings in CONMED by 2,888.0% during the 1st quarter. Quadrant Capital Group LLC now owns 747 shares of the medical technology company’s stock valued at $61,000 after acquiring an additional 722 shares during the period. First Quadrant L P CA purchased a new stake in CONMED during the 4th quarter valued at about $78,000. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its holdings in CONMED by 35.2% during the 4th quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 1,742 shares of the medical technology company’s stock valued at $106,000 after acquiring an additional 454 shares during the period. Finally, US Bancorp DE boosted its holdings in CONMED by 48.1% during the 1st quarter. US Bancorp DE now owns 1,324 shares of the medical technology company’s stock valued at $110,000 after acquiring an additional 430 shares during the period. Hedge funds and other institutional investors own 96.52% of the company’s stock.

CONMED Company Profile

CONMED Corporation, a medical technology company, develops, manufactures, and sells surgical devices and related equipment for minimally invasive procedures worldwide. The company offers orthopedic surgery products, including sports medicine products comprising powered resection instruments, arthroscopes, reconstructive systems, tissue repair sets, and metal and bioabsorbable implants, as well as related disposable products and fluid management systems; powered surgical instruments for use in bone orthopedic, arthroscopic, oral/maxillofacial, podiatric, plastic, ENT, neurological, spinal, and cardiothoracic surgeries; sports biologics and tissue products; and surgical visualization products.

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Earnings History and Estimates for CONMED (NASDAQ:CNMD)

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