Wall Street brokerages forecast that CONMED Co. (NASDAQ:CNMD) will announce earnings per share (EPS) of $0.45 for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for CONMED’s earnings, with the lowest EPS estimate coming in at $0.39 and the highest estimate coming in at $0.48. CONMED reported earnings of $0.42 per share during the same quarter last year, which would suggest a positive year-over-year growth rate of 7.1%. The business is scheduled to report its next quarterly earnings results on Thursday, November 1st.

On average, analysts expect that CONMED will report full-year earnings of $2.17 per share for the current fiscal year, with EPS estimates ranging from $2.15 to $2.18. For the next fiscal year, analysts anticipate that the business will post earnings of $2.41 per share, with EPS estimates ranging from $2.39 to $2.43. Zacks Investment Research’s earnings per share averages are an average based on a survey of analysts that that provide coverage for CONMED.

CONMED (NASDAQ:CNMD) last issued its quarterly earnings results on Wednesday, August 1st. The medical technology company reported $0.46 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.45 by $0.01. The company had revenue of $212.80 million during the quarter, compared to the consensus estimate of $207.12 million. CONMED had a net margin of 8.85% and a return on equity of 9.51%. CONMED’s revenue was up 7.9% on a year-over-year basis. During the same period in the prior year, the company earned $0.41 EPS.

A number of equities analysts have recently weighed in on CNMD shares. BidaskClub downgraded CONMED from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 11th. Needham & Company LLC upped their target price on CONMED from $73.00 to $83.00 and gave the stock a “buy” rating in a research report on Thursday, August 2nd. Finally, Zacks Investment Research raised CONMED from a “hold” rating to a “buy” rating and set a $84.00 price objective for the company in a research report on Monday, June 25th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $71.00.

In other CONMED news, EVP Daniel Jonas sold 4,000 shares of the firm’s stock in a transaction dated Thursday, August 2nd. The stock was sold at an average price of $79.73, for a total transaction of $318,920.00. Following the transaction, the executive vice president now owns 20,347 shares in the company, valued at $1,622,266.31. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, VP Terence M. Berge sold 673 shares of the firm’s stock in a transaction dated Wednesday, June 13th. The stock was sold at an average price of $73.00, for a total value of $49,129.00. Following the transaction, the vice president now owns 19,908 shares in the company, valued at approximately $1,453,284. The disclosure for this sale can be found here. 3.13% of the stock is owned by company insiders.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Profund Advisors LLC boosted its holdings in CONMED by 20.0% during the first quarter. Profund Advisors LLC now owns 4,713 shares of the medical technology company’s stock worth $298,000 after buying an additional 786 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in CONMED by 72.1% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,926 shares of the medical technology company’s stock worth $122,000 after buying an additional 807 shares during the last quarter. Schwab Charles Investment Management Inc. boosted its holdings in CONMED by 0.5% during the first quarter. Schwab Charles Investment Management Inc. now owns 184,850 shares of the medical technology company’s stock worth $11,707,000 after buying an additional 854 shares during the last quarter. Legal & General Group Plc boosted its holdings in CONMED by 1.7% during the first quarter. Legal & General Group Plc now owns 52,894 shares of the medical technology company’s stock worth $3,348,000 after buying an additional 889 shares during the last quarter. Finally, Pendal Group Ltd boosted its holdings in CONMED by 4.3% during the second quarter. Pendal Group Ltd now owns 27,108 shares of the medical technology company’s stock worth $1,984,000 after buying an additional 1,108 shares during the last quarter. Hedge funds and other institutional investors own 94.68% of the company’s stock.

NASDAQ CNMD opened at $77.71 on Wednesday. The stock has a market cap of $2.15 billion, a price-to-earnings ratio of 40.88, a P/E/G ratio of 3.07 and a beta of 0.55. CONMED has a 1 year low of $48.03 and a 1 year high of $83.49. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.15 and a current ratio of 1.97.

The company also recently declared a quarterly dividend, which will be paid on Monday, October 8th. Investors of record on Friday, September 14th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.03%. The ex-dividend date of this dividend is Thursday, September 13th. CONMED’s dividend payout ratio is 42.33%.

CONMED Company Profile

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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Earnings History and Estimates for CONMED (NASDAQ:CNMD)

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