$0.53 Earnings Per Share Expected for CONMED Co. (NASDAQ:CNMD) This Quarter

Equities research analysts predict that CONMED Co. (NASDAQ:CNMD) will post earnings of $0.53 per share for the current fiscal quarter, according to Zacks. Four analysts have provided 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 per share of $0.46 in the same quarter last year, which would suggest a positive year over year growth rate of 15.2%. The company is scheduled to announce its next earnings results on Wednesday, August 7th.

On average, analysts expect that CONMED will report full year earnings of $2.50 per share for the current financial year, with EPS estimates ranging from $2.49 to $2.50. For the next year, analysts expect that the company will post earnings of $2.94 per share, with EPS estimates ranging from $2.88 to $3.04. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side research firms that cover CONMED.

CONMED (NASDAQ:CNMD) last announced its quarterly earnings results on Wednesday, April 24th. The medical technology company reported $0.57 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.54 by $0.03. The business had revenue of $218.38 million for the quarter, compared to analyst estimates of $213.95 million. CONMED had a return on equity of 9.67% and a net margin of 3.56%. CONMED’s quarterly revenue was up 8.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.53 EPS.

Several analysts recently commented on the company. BidaskClub raised CONMED from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, May 7th. Barclays boosted their price target on CONMED from $85.00 to $92.00 and gave the company an “overweight” rating in a research note on Monday, April 15th. Needham & Company LLC reaffirmed a “buy” rating and issued a $94.00 price target (up previously from $87.00) on shares of CONMED in a research note on Tuesday, April 16th. Zacks Investment Research raised CONMED from a “hold” rating to a “buy” rating and set a $93.00 price target on the stock in a research note on Monday, April 15th. Finally, Stifel Nicolaus assumed coverage on CONMED in a research note on Wednesday, April 17th. They issued a “buy” rating and a $95.00 price target on the stock. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. CONMED currently has an average rating of “Buy” and an average price target of $91.00.

Shares of CNMD stock opened at $82.42 on Tuesday. The company has a current ratio of 2.58, a quick ratio of 1.45 and a debt-to-equity ratio of 1.16. The firm has a market capitalization of $2.33 billion, a P/E ratio of 37.81, a P/E/G ratio of 2.48 and a beta of 0.61. CONMED has a one year low of $56.90 and a one year high of $85.91.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 5th. Shareholders of record on Friday, June 14th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.97%. The ex-dividend date is Thursday, June 13th. CONMED’s dividend payout ratio is currently 36.70%.

In other CONMED news, VP Stanley W. Peters III sold 1,511 shares of the business’s stock in a transaction on Friday, April 26th. The stock was sold at an average price of $82.00, for a total value of $123,902.00. Following the transaction, the vice president now owns 618 shares of the company’s stock, valued at $50,676. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Dirk Kuyper sold 2,000 shares of the business’s stock in a transaction on Monday, April 8th. The stock was sold at an average price of $83.39, for a total value of $166,780.00. Following the completion of the transaction, the director now directly owns 13,906 shares in the company, valued at approximately $1,159,621.34. The disclosure for this sale can be found here. In the last three months, insiders sold 14,937 shares of company stock worth $1,229,478. Insiders own 4.38% of the company’s stock.

A number of institutional investors have recently bought and sold shares of the business. Marshall Wace North America L.P. raised its position in shares of CONMED by 269.6% during the first quarter. Marshall Wace North America L.P. now owns 34,521 shares of the medical technology company’s stock worth $2,871,000 after acquiring an additional 25,182 shares during the last quarter. FMR LLC raised its position in shares of CONMED by 0.8% during the first quarter. FMR LLC now owns 293,909 shares of the medical technology company’s stock worth $24,447,000 after acquiring an additional 2,373 shares during the last quarter. HighTower Advisors LLC bought a new stake in shares of CONMED during the first quarter worth $1,146,000. Zebra Capital Management LLC raised its position in shares of CONMED by 10.4% during the first quarter. Zebra Capital Management LLC now owns 10,534 shares of the medical technology company’s stock worth $876,000 after acquiring an additional 992 shares during the last quarter. Finally, One Wealth Advisors LLC bought a new stake in shares of CONMED during the first quarter worth $627,000. 96.75% of the stock is currently owned by institutional investors.

About CONMED

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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