$233.10 Million in Sales Expected for CONMED Co. (CNMD) This Quarter

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Analysts expect that CONMED Co. (NASDAQ:CNMD) will announce $233.10 million in sales for the current fiscal quarter, according to Zacks. Four analysts have made estimates for CONMED’s earnings, with estimates ranging from $231.90 million to $233.90 million. CONMED reported sales of $212.82 million in the same quarter last year, which indicates a positive year-over-year growth rate of 9.5%. The business is expected to report its next quarterly earnings results on Wednesday, August 7th.

On average, analysts expect that CONMED will report full-year sales of $945.15 million for the current financial year, with estimates ranging from $944.19 million to $946.10 million. For the next financial year, analysts expect that the company will post sales of $1.01 billion, with estimates ranging from $1.00 billion to $1.01 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow CONMED.

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

Several brokerages have weighed in on CNMD. BidaskClub raised shares of CONMED from a “buy” rating to a “strong-buy” rating in a report on Tuesday, May 7th. Stifel Nicolaus began coverage on shares of CONMED in a research report on Wednesday, April 17th. They set a “buy” rating and a $95.00 price objective on the stock. Needham & Company LLC reiterated a “buy” rating and set a $94.00 price objective (up previously from $87.00) on shares of CONMED in a research report on Tuesday, April 16th. Barclays lifted their price objective on shares of CONMED from $85.00 to $92.00 and gave the company an “overweight” rating in a research report on Monday, April 15th. Finally, Zacks Investment Research upgraded shares of CONMED from a “hold” rating to a “buy” rating and set a $93.00 price objective on the stock in a research report on Monday, April 15th. One investment analyst has rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. CONMED has a consensus rating of “Buy” and an average price target of $91.00.

In related news, Director Dirk Kuyper sold 2,000 shares of the business’s stock in a transaction on Monday, April 8th. The shares were sold at an average price of $83.39, for a total value of $166,780.00. Following the sale, the director now owns 13,906 shares in the company, valued at $1,159,621.34. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Daniel Jonas sold 4,000 shares of the business’s stock in a transaction on Friday, April 26th. The stock was sold at an average price of $80.51, for a total transaction of $322,040.00. Following the completion of the sale, the executive vice president now owns 27,497 shares in the company, valued at approximately $2,213,783.47. The disclosure for this sale can be found here. In the last quarter, insiders have sold 10,511 shares of company stock worth $846,032. Company insiders own 4.38% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. FMR LLC increased its position in CONMED by 0.8% in the first quarter. FMR LLC now owns 293,909 shares of the medical technology company’s stock worth $24,447,000 after purchasing an additional 2,373 shares during the last quarter. HighTower Advisors LLC bought a new stake in CONMED in the first quarter worth $1,146,000. Zebra Capital Management LLC increased its position in CONMED by 10.4% in the first quarter. Zebra Capital Management LLC now owns 10,534 shares of the medical technology company’s stock worth $876,000 after purchasing an additional 992 shares during the last quarter. One Wealth Advisors LLC bought a new stake in CONMED in the first quarter worth $627,000. Finally, C M Bidwell & Associates Ltd. bought a new stake in CONMED in the first quarter worth $189,000. Institutional investors own 96.75% of the company’s stock.

NASDAQ:CNMD traded up $0.44 during trading hours on Tuesday, hitting $81.43. 125,618 shares of the stock traded hands, compared to its average volume of 300,848. The company has a debt-to-equity ratio of 1.16, a current ratio of 2.58 and a quick ratio of 1.45. CONMED has a 1 year low of $56.90 and a 1 year high of $85.91. The company has a market capitalization of $2.30 billion, a P/E ratio of 37.35, a P/E/G ratio of 2.42 and a beta of 0.64.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 5th. Stockholders of record on Friday, June 14th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.98%. The ex-dividend date of this dividend is Thursday, June 13th. CONMED’s payout ratio is currently 36.70%.

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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