Analysts expect that CONMED Co. (NYSE:CNMD) will post $263.12 million in sales for the current quarter, according to Zacks. Five analysts have provided estimates for CONMED’s earnings, with the highest sales estimate coming in at $268.40 million and the lowest estimate coming in at $254.70 million. CONMED posted sales of $264.87 million during the same quarter last year, which would indicate a negative year over year growth rate of 0.7%. The business is scheduled to report its next quarterly earnings report on Wednesday, February 3rd.
According to Zacks, analysts expect that CONMED will report full year sales of $872.76 million for the current year, with estimates ranging from $864.40 million to $878.00 million. For the next financial year, analysts forecast that the business will report sales of $1.02 billion, with estimates ranging from $981.60 million to $1.05 billion. Zacks’ sales calculations are an average based on a survey of research firms that cover CONMED.
CONMED (NYSE:CNMD) last posted its quarterly earnings data on Wednesday, October 28th. The company reported $0.88 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.25 by $0.63. The firm had revenue of $237.84 million during the quarter, compared to analysts’ expectations of $204.91 million. CONMED had a return on equity of 9.48% and a net margin of 0.04%.
CNMD has been the subject of a number of recent analyst reports. BidaskClub raised CONMED from a “buy” rating to a “strong-buy” rating in a research report on Friday, December 25th. ValuEngine lowered CONMED from a “buy” rating to a “hold” rating in a research note on Monday, November 2nd. Four equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $88.33.
Shares of CONMED stock traded up $0.24 during trading on Wednesday, reaching $117.08. The company’s stock had a trading volume of 152,583 shares, compared to its average volume of 346,610. The company has a quick ratio of 1.24, a current ratio of 2.26 and a debt-to-equity ratio of 1.11. The company has a market cap of $3.35 billion, a price-to-earnings ratio of -2,927.00, a P/E/G ratio of 3.42 and a beta of 1.55. CONMED has a 1-year low of $37.66 and a 1-year high of $118.51. The company has a 50-day simple moving average of $111.91 and a two-hundred day simple moving average of $95.99.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 5th. Shareholders of record on Tuesday, December 15th were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, December 14th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.68%. CONMED’s payout ratio is currently 30.30%.
In other CONMED news, VP Stanley W. Peters III sold 554 shares of CONMED stock in a transaction dated Tuesday, November 10th. The stock was sold at an average price of $94.31, for a total transaction of $52,247.74. Following the completion of the transaction, the vice president now owns 617 shares in the company, valued at approximately $58,189.27. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Terence M. Berge sold 14,040 shares of CONMED stock in a transaction dated Friday, November 20th. The shares were sold at an average price of $101.52, for a total value of $1,425,340.80. Following the transaction, the vice president now owns 10,912 shares of the company’s stock, valued at approximately $1,107,786.24. The disclosure for this sale can be found here. Insiders have sold a total of 49,258 shares of company stock valued at $5,012,209 in the last quarter. Company insiders own 5.39% of the company’s stock.
Institutional investors have recently made changes to their positions in the stock. Steward Partners Investment Advisory LLC acquired a new position in shares of CONMED during the 3rd quarter worth approximately $28,000. Dimension Capital Management LLC acquired a new position in shares of CONMED during the 3rd quarter worth approximately $28,000. Harbor Investment Advisory LLC boosted its holdings in shares of CONMED by 104.6% during the 3rd quarter. Harbor Investment Advisory LLC now owns 446 shares of the company’s stock worth $35,000 after purchasing an additional 228 shares during the last quarter. First Bank & Trust acquired a new position in shares of CONMED during the 3rd quarter worth approximately $70,000. Finally, Amundi Pioneer Asset Management Inc. acquired a new position in shares of CONMED during the 1st quarter worth approximately $150,000.
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, spinal, and cardiothoracic surgeries; sports biologics and tissue products; and surgical visualization products.
Featured Story: How much can an individual set aside as a catch-up contribution?
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.