$0.56 Earnings Per Share Expected for CONMED Co. (NASDAQ:CNMD) This Quarter

Equities research analysts expect CONMED Co. (NASDAQ:CNMD) to report earnings of $0.56 per share for the current quarter, Zacks reports. Four analysts have made estimates for CONMED’s earnings, with the lowest EPS estimate coming in at $0.54 and the highest estimate coming in at $0.58. CONMED posted earnings per share of $0.46 during the same quarter last year, which suggests a positive year-over-year growth rate of 21.7%. The company is scheduled to announce its next earnings results on Thursday, November 7th.

On average, analysts expect that CONMED will report full year earnings of $2.55 per share for the current year, with EPS estimates ranging from $2.54 to $2.55. For the next year, analysts forecast that the firm will post earnings of $2.98 per share, with EPS estimates ranging from $2.90 to $3.04. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side analysts that that provide coverage for CONMED.

CONMED (NASDAQ:CNMD) last issued its quarterly earnings results on Wednesday, July 31st. The medical technology company reported $0.56 EPS for the quarter, topping analysts’ consensus estimates of $0.53 by $0.03. The business had revenue of $238.26 million during the quarter, compared to analysts’ expectations of $233.06 million. CONMED had a return on equity of 9.95% and a net margin of 3.13%. The business’s quarterly revenue was up 12.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.46 earnings per share.

Several analysts recently issued reports on the company. Barclays increased their target price on CONMED from $96.00 to $105.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. BidaskClub upgraded CONMED from a “buy” rating to a “strong-buy” rating in a research report on Friday. Stifel Nicolaus increased their target price on CONMED from $97.00 to $99.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Piper Jaffray Companies upgraded CONMED from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $88.00 to $110.00 in a research report on Thursday. Finally, Zacks Investment Research upgraded CONMED from a “hold” rating to a “buy” rating and set a $98.00 target price for the company in a research report on Friday, August 2nd. One investment analyst has rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $97.83.

Shares of CNMD opened at $99.29 on Friday. The company has a quick ratio of 1.44, a current ratio of 2.55 and a debt-to-equity ratio of 1.14. The business has a 50-day simple moving average of $90.40 and a two-hundred day simple moving average of $82.70. The stock has a market cap of $2.86 billion, a price-to-earnings ratio of 43.51, a PEG ratio of 2.67 and a beta of 0.59. CONMED has a 52 week low of $56.90 and a 52 week high of $102.56.

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 7th. Investors of record on Friday, September 13th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.81%. The ex-dividend date of this dividend is Thursday, September 12th. CONMED’s dividend payout ratio is currently 36.70%.

In related news, EVP Daniel Jonas sold 2,909 shares of the stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $92.10, for a total transaction of $267,918.90. Following the completion of the sale, the executive vice president now owns 28,319 shares in the company, valued at $2,608,179.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Peter K. Shagory sold 2,000 shares of the stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $95.31, for a total value of $190,620.00. Following the sale, the executive vice president now owns 3,649 shares of the company’s stock, valued at approximately $347,786.19. The disclosure for this sale can be found here. Insiders have sold 33,372 shares of company stock valued at $2,920,843 in the last quarter. 4.38% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CNMD. Principal Financial Group Inc. grew its holdings in CONMED by 142.5% during the 1st quarter. Principal Financial Group Inc. now owns 548,342 shares of the medical technology company’s stock valued at $45,611,000 after buying an additional 322,249 shares in the last quarter. Nuveen Asset Management LLC purchased a new position in CONMED during the 2nd quarter valued at approximately $24,934,000. Marshall Wace LLP grew its holdings in CONMED by 148.9% during the 1st quarter. Marshall Wace LLP now owns 398,722 shares of the medical technology company’s stock valued at $33,166,000 after buying an additional 238,500 shares in the last quarter. Morgan Stanley grew its holdings in CONMED by 346.8% during the 2nd quarter. Morgan Stanley now owns 139,856 shares of the medical technology company’s stock valued at $11,968,000 after buying an additional 108,556 shares in the last quarter. Finally, Vanguard Group Inc. grew its holdings in CONMED by 3.6% during the 2nd quarter. Vanguard Group Inc. now owns 2,869,620 shares of the medical technology company’s stock valued at $245,554,000 after buying an additional 100,779 shares in the last quarter. Institutional investors and hedge funds own 96.75% 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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