Q4 2022 EPS Estimates for CONMED Co. Decreased by Analyst (NYSE:CNMD)

CONMED Co. (NYSE:CNMDGet Rating) – Equities researchers at KeyCorp decreased their Q4 2022 earnings per share (EPS) estimates for shares of CONMED in a note issued to investors on Tuesday, August 2nd. KeyCorp analyst M. Mishan now anticipates that the company will earn $1.10 per share for the quarter, down from their previous estimate of $1.18. The consensus estimate for CONMED’s current full-year earnings is $3.70 per share.

CNMD has been the topic of a number of other reports. Stifel Nicolaus decreased their price target on CONMED from $160.00 to $110.00 and set a “buy” rating on the stock in a research report on Thursday, June 23rd. Piper Sandler decreased their price target on CONMED from $160.00 to $118.00 and set an “overweight” rating on the stock in a research report on Thursday, July 28th. Needham & Company LLC decreased their price target on CONMED from $155.00 to $127.00 and set a “buy” rating on the stock in a research report on Thursday, July 28th. Finally, TheStreet downgraded CONMED from a “b-” rating to a “c+” rating in a report on Tuesday, June 21st. One research analyst has rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, CONMED presently has an average rating of “Moderate Buy” and an average target price of $118.33.

CONMED Stock Up 0.5 %

NYSE CNMD opened at $97.01 on Thursday. The firm has a market cap of $2.96 billion, a PE ratio of 50.01, a price-to-earnings-growth ratio of 3.19 and a beta of 1.53. CONMED has a one year low of $87.24 and a one year high of $159.11. The stock’s 50 day simple moving average is $99.05 and its 200 day simple moving average is $123.13. The company has a debt-to-equity ratio of 0.86, a current ratio of 2.34 and a quick ratio of 1.16.

CONMED (NYSE:CNMDGet Rating) last released its quarterly earnings data on Wednesday, July 27th. The company reported $0.76 earnings per share for the quarter, beating the consensus estimate of $0.75 by $0.01. The company had revenue of $277.20 million for the quarter, compared to analyst estimates of $274.22 million. CONMED had a return on equity of 13.20% and a net margin of 6.19%. The company’s revenue was up 8.6% compared to the same quarter last year. During the same period in the prior year, the company posted $0.71 EPS.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Capital Research Global Investors lifted its stake in shares of CONMED by 10.1% in the 4th quarter. Capital Research Global Investors now owns 1,127,056 shares of the company’s stock valued at $159,771,000 after purchasing an additional 103,061 shares during the period. First Republic Investment Management Inc. increased its holdings in shares of CONMED by 23.1% in the fourth quarter. First Republic Investment Management Inc. now owns 8,896 shares of the company’s stock worth $1,261,000 after acquiring an additional 1,667 shares in the last quarter. Advisor Group Holdings Inc. raised its position in shares of CONMED by 21.5% during the fourth quarter. Advisor Group Holdings Inc. now owns 9,874 shares of the company’s stock worth $1,400,000 after purchasing an additional 1,744 shares during the period. Legacy Wealth Asset Management LLC raised its position in shares of CONMED by 3.8% during the fourth quarter. Legacy Wealth Asset Management LLC now owns 5,514 shares of the company’s stock worth $782,000 after purchasing an additional 201 shares during the period. Finally, Yousif Capital Management LLC bought a new position in shares of CONMED during the 4th quarter valued at about $3,708,000.

Insiders Place Their Bets

In other CONMED news, Director Jerome J. Lande sold 1,521 shares of the company’s stock in a transaction on Tuesday, May 17th. The stock was sold at an average price of $117.00, for a total transaction of $177,957.00. Following the transaction, the director now owns 2,407 shares of the company’s stock, valued at approximately $281,619. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, Director Jerome J. Lande sold 1,521 shares of the stock in a transaction on Tuesday, May 17th. The stock was sold at an average price of $117.00, for a total value of $177,957.00. Following the transaction, the director now owns 2,407 shares of the company’s stock, valued at approximately $281,619. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Jerome J. Lande sold 6,000 shares of the stock in a transaction on Friday, May 13th. The shares were sold at an average price of $115.42, for a total value of $692,520.00. Following the completion of the transaction, the director now directly owns 3,928 shares in the company, valued at approximately $453,369.76. The disclosure for this sale can be found here. In the last quarter, insiders have sold 10,183 shares of company stock valued at $1,136,118. 1.10% of the stock is currently owned by corporate insiders.

CONMED Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 5th. Shareholders of record on Wednesday, June 15th were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.82%. The ex-dividend date of this dividend was Tuesday, June 14th. CONMED’s dividend payout ratio is 41.24%.

CONMED Company Profile

(Get Rating)

CONMED Corporation, a medical technology company, develops, manufactures, and sells surgical devices and related equipment for surgical procedures worldwide. It offers orthopedic surgery products, including TruShot with Y-Knot All-In-One Soft Tissue Fixation System, Y-knot All-Suture Anchors, and PopLok Knotless Suture Anchors, which provide unique clinical solutions to orthopedic surgeons for the repair of soft tissue injuries, as well as supporting products that enable surgeons to perform minimally invasive sports medicine surgeries.

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Earnings History and Estimates for CONMED (NYSE:CNMD)

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