Equities analysts expect CONMED Co. (NASDAQ:CNMD) to post earnings per share of $0.45 for the current fiscal quarter, according to Zacks. Four analysts have provided estimates for CONMED’s earnings, with estimates ranging from $0.45 to $0.46. CONMED posted earnings of $0.41 per share during the same quarter last year, which would suggest a positive year over year growth rate of 9.8%. The company is scheduled to report its next quarterly earnings results on Wednesday, July 25th.
On average, analysts expect that CONMED will report full year earnings of $2.17 per share for the current year, with EPS estimates ranging from $2.15 to $2.18. For the next financial year, analysts expect that the company will post earnings of $2.41 per share, with EPS estimates ranging from $2.40 to $2.43. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of analysts that follow CONMED.
CONMED (NASDAQ:CNMD) last issued its earnings results on Wednesday, April 25th. The medical technology company reported $0.53 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.43 by $0.10. CONMED had a return on equity of 9.46% and a net margin of 8.71%. The firm had revenue of $202.10 million for the quarter, compared to analysts’ expectations of $196.51 million. During the same quarter last year, the firm earned $0.38 earnings per share. The firm’s revenue for the quarter was up 8.3% compared to the same quarter last year.
Several research analysts have commented on CNMD shares. BidaskClub raised CONMED from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, March 27th. Zacks Investment Research raised CONMED from a “hold” rating to a “buy” rating and set a $71.00 price objective on the stock in a research report on Friday, February 2nd. Needham & Company LLC raised their price objective on CONMED from $71.00 to $73.00 and gave the company a “buy” rating in a research report on Thursday, April 26th. Finally, ValuEngine raised CONMED from a “hold” rating to a “buy” rating in a research report on Thursday, March 1st. Three analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $62.67.
In other CONMED news, VP Terence M. Berge sold 3,868 shares of the firm’s stock in a transaction dated Friday, March 9th. The stock was sold at an average price of $62.45, for a total value of $241,556.60. Following the transaction, the vice president now directly owns 19,908 shares of the company’s stock, valued at $1,243,254.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Luke A. Pomilio sold 19,620 shares of the firm’s stock in a transaction dated Thursday, March 1st. The shares were sold at an average price of $60.19, for a total value of $1,180,927.80. Following the completion of the transaction, the chief financial officer now directly owns 600 shares in the company, valued at $36,114. The disclosure for this sale can be found here. Insiders sold 41,595 shares of company stock worth $2,617,340 over the last three months. 3.13% of the stock is currently owned by corporate insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in CNMD. Schwab Charles Investment Management Inc. increased its position in shares of CONMED by 5.2% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 183,996 shares of the medical technology company’s stock worth $9,379,000 after acquiring an additional 9,016 shares during the last quarter. Assenagon Asset Management S.A. purchased a new stake in shares of CONMED during the fourth quarter worth about $3,169,000. Victory Capital Management Inc. increased its position in shares of CONMED by 2.1% during the fourth quarter. Victory Capital Management Inc. now owns 2,225,574 shares of the medical technology company’s stock worth $113,438,000 after acquiring an additional 44,988 shares during the last quarter. Teacher Retirement System of Texas purchased a new stake in shares of CONMED during the fourth quarter worth about $442,000. Finally, Wells Fargo & Company MN increased its position in shares of CONMED by 20.6% during the fourth quarter. Wells Fargo & Company MN now owns 48,500 shares of the medical technology company’s stock worth $2,471,000 after acquiring an additional 8,276 shares during the last quarter. 95.19% of the stock is currently owned by institutional investors and hedge funds.
CONMED opened at $68.78 on Friday, MarketBeat Ratings reports. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.23 and a current ratio of 2.15. CONMED has a 12 month low of $47.41 and a 12 month high of $69.55. The stock has a market capitalization of $1.93 billion, a price-to-earnings ratio of 33.65, a P/E/G ratio of 2.76 and a beta of 0.60.
CONMED Corporation, a medical technology company, develops, manufactures, and sells surgical devices and related equipment for minimally invasive procedures in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. 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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